2022-03-31-accounts - Mustard Seed Trust (Marlborough)

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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 2022

`FOR`

`MUSTARD SEED TRUST (MARLBOROUGH)`

MUSTARD SEED TRUST (MARLBOROUGH)

`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022`

	`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 2022`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31March2022.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 2022`

`ACHIEVEMENT AND PERFORMANCE`

`Charitable activities`

InadditiontomakingChristianbooks,cardsandliteratureavailabletothepublicforpurchase and
providing information, in the year ended 31 March 2022, the Trust also:

Provided Bibles and advice to Ogbourne St George Primary, Chilton Foliat, Ramsbury, Preshute, Lydiard
Millicent schools
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 via a monthly newsletter 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
Adults with special needs rejoined the Team
Our special needs volunteers colour bible verse bookmarks which are attached to all our paper bags - this is a ministry/service that is greatly appreciated
Restarted the quarterly book group
Provided bookstalls at two author events in Pewsey and one in Burbage
Our general volunteers provide added personal service and they feel Mustard Seed provides a setting for their expression of Christian ministry

-2-

MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068)

`REPORT OF THE TRUSTEES`

`FOR THE YEAR ENDED 31 MARCH 2022`

`FINANCIAL REVIEW`

`Financial results 2022`

TheTrustachievedanetincomeof£9,994fortheyearended31stMarch2022(2021:£18,673).This is
after the inclusionof the donationunder Gift Aid of £3,524(2021:£1,189)from the connected Coffeeshop,
MustardSeed(Marlborough)Ltd,thereceiptofGovernmentCovidSupportGrantsof£2.667 (2021:
£19,431)andin2021areductioninoperatingcostsof£8,371madepossiblebytheflexibilityand help
from staff and volunteers and by the understanding and support from the landlord.

Theresultsforthelasttwoyearshavebeenmuchbetterthanwasexpectedatthestartofthe Covid19
pandemic.TheTrusteesareverythankfulforallthesupportreceivedinthepastandgoing forward.
Without that support the future was very uncertain.

Bookshopsales by the Trust in the year morethan doubledcomparedwith 2021,and were not far off  from
thepre-Covidlevelofsalesin2019.HoweverthesalesoftheconnectedCoffeeshop,although double
comparedwith 2021,were only 58% of the level in 2019.It is hoped that in the year to 31 March2023 the
sales of both companiescan be maintainedduring the costof livingcrisiscausedby the Russianinvasion of
Ukraine.

ThecombinedresultoftheBookshopandtheCoffeeshopfortheyearwasa netincomeof£8,752 (2021:
£17,880).Theexpectationfor2023is breakevenas we rebuildfromtheeffectsof Covid19and cope with
the cost increases caused by Russia.

TheTrustcontinuestoreceivevitalsupportfromthelandlord.Thelandlordhasconfirmedthatuntil 31
March 2024 the rent will remain at £9,000 pa which is 25% below the last rent review.

The Trusteesand Managementwill continueto seek ways to maintainour Christianpresencenear the  High
Street.

`Investment policy`

TheTrusteesbelievethatthepolicyofplacingsurplusfundsondepositwithabankandCCLAis 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.

At 31 March2022the freereservesof £64,279(approx17 months)areabovethe targetrangeof £11,000
to£22,000.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 another pandemic, cease to trade.

-3-

MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068)

`REPORT OF THE TRUSTEES`

`FOR THE YEAR ENDED 31 MARCH 2022`

`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 - providing a listening ear and developing a relationship
with many customers who come in for company.
Continue to work with all our volunteers to further their service in Mustard Seed

`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.

`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".

-4-

MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068)

`REPORT OF THE TRUSTEES`

`FOR THE YEAR ENDED 31 MARCH 2022`

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Related parties`

The CoffeeShop is a separatetradingcompanycalledMustardSeed (Marlborough)Ltd.It is ownedby the
Trustees and is therefore a connected trading company.

MustardSeedTrustoperatesinTheBoathouse,apropertywhichisownedbyMrsRMauricewhois the
landlord.Mrs R Mauricewas one of the foundersof the Charityand continuesto be a key volunteerand is
theManageroftheCharity.ThelandlordhascommittedtoprovidethepremisestotheTrustona stable
basisat a levelof rentthatis belowthemarketrate;thisis determinedon a threeyearlycommercial rent
review.Underthetermsofthelease,thelandlordis responsibleforstructuralandexternal maintenance
andanycapitalworksthatenhancethevalueofthebuilding.PleasealsorefertoNote16ofthe 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`

`Registered office`

1 Farrar Drive
Marlborough
Wiltshire
SN8 1TP

`Trustees`

Mr R Wheeler
Mr N Larkey (resigned 20.5.22)
Mr R Mann
Mrs C Piercy-Buehrer (resigned 2.11.22)
Ms S M Wylie
Dr P Tulloch
Mr G K Pells (appointed 20.5.22)

`Company Secretary`

Dr P Tulloch

`Independent Examiner`

Mrs L Blunden
8 Southview Place
Marlborough
SN8 1DD

-5-

MusfARD SEE MAR REGISTERED N ER: 2763068 REPOR F THE TRUSTE R THE YEAR ENDE I MARCH 20 REFERENCE AND ADMINisfRATIVE DETAILS TaSurer Mrs R Maurice Manager Mrs R Maurice Bankers HSBC Bank Ltd Unit 6 The Lock Canal Walk Swindon SNI ILD Thls report has been prepared in accordance with the special provisTrons of Part 15 of the Companles Act 2CQ6 relating to small wmpanies. Approved by order of the board of trustees on.... ... . . and signed on its behalf by: MrRW r-Tr

EDTr MAR ROUG Independent examlnerfs rewttothe trustsof Mustwd Seed Trust (Marlborou8h) rtl Cthyany I report to the charlty trustees on my examination of the accounts of the Company for the ye3r ended 31 Marrh 2021 ResponslblllllesaMTbasls of report As the chartty's trustees of the Company (and a150 its &irertOF5 for the purwse5 of company law) you are respon%ble for the preparation of the accounts in actordance with the requirements of the Companies Act 21XJ6 Ilhe 2006 Act?. Hw41ng satlsfied myself that the accounts of the Crynpany are not required to be audited under Part 16 of the 2(MJ6 Art and are eli8ible for Independent examinatio I report in respett of my examination.of your tharity'5 accounts a5 carried out under settion 145 of the Charities Act 2011 2011 Arf}. In carrying out my examination I have followed the Lrections y4en by the tharity Commission under SÈction 145151 Ibl of the 2011 ACL I have"compl&ed my examinatiorL l thatul I<m to ention in tonnection with the examinatron givin8 me caw to believe: accounting records were kept in respett ofthe Ciynpany as required ty section 386 of the 2006 ' the aLtounts do not comply with the accountyw fequiferrents of section 396 ofthe 26 kt other than any requirement that the accounts e 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 accordan wth the methods and principtes of the Statement of Recommended Practice for ctsunting and rewting by tharttle5 lapplicable to tharitles prepanng their accounts in [Ord with the FNnCiaI Reporting Standard applicable. in the tIK and Republic of Ireland IFRS 102}). I have no concerns and have come across no other mattels kn conneckn w5th the examination to whith attention should be drawn in thFS repfAt In order to enabte a proper understanding of the accounts to be reached. Mrs L Blunden 8 Southview Pkce MarltK)rough SN8 IDD iohL1202

`MUSTARD SEED TRUST (MARLBOROUGH)`

`STATEMENT OF FINANCIAL ACTIVITIES`

`FOR THE YEAR ENDED 31 MARCH 2022`

		`31.3.22`	`31.3.21`
		`Unrestricted`	`Total`
		`funds`	`funds`
	`Notes`	`£`	`£`
`INCOME AND ENDOWMENTS FROM`
`Donations and legacies`	`2`	`3,585`	`1,366`
`Charitable activities`
`Bookshop sales`		`27,701`	`13,029`
`Other trading activities`	`3`	`1,384`	`-`
`Investment income`	`4`	`6`	`16`
`Other income`	`5`	`2,667`	`19,431`
`Total`		`35,343`	`33,842`
`EXPENDITURE ON`
`Charitable activities`	`6`
`Cost bookshop sales items sold`		`16,826`	`8,385`
`Bookshop operating expenses`		`8,523`	`6,784`
`Total`		`25,349`	`15,169`
`NET INCOME`		`9,994`	`18,673`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`		`62,062`	`43,389`
`TOTAL FUNDS CARRIED FORWARD`		`72,056`	`62,062`

The notes form part of these financial statements

-8-

`MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068)`

`BALANCE SHEET`

`31 MARCH 2022`

31.3.22
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
10
1,964
CURRENT ASSETS
Stocks
11
9,388
Debtors
12
6,395
Cash at bank
55,493
71,276
CREDITORS
Amounts falling due within one year
13
(1,184)
NET CURRENT ASSETS
70,092
TOTAL ASSETS LESS CURRENT LIABILITIES
72,056
NET ASSETS
72,056
FUNDS
14
Unrestricted funds
72,056
TOTAL FUNDS
72,056 31.3.21
Total
funds
£
2,736
10,002
8,166
44,146
62,314
(2,988)
59,326
62,062
62,062
62,062
62,062

The charitablecompanyis entitledto exemptionfromauditunderSection477of the CompaniesAct 2006
for the year ended 31 March 2022.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31 March 2022 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 SEED TRU MARLBOR GH RED NUMBER: 027 3068 BALANCE SH IMAR ntlnued H20 These financial statements have been prepared in accordance wth the provlslons applicable to chartsble companies subject to the small companies rewme. The finan ial st tements were approved by the Board of Trustees and authori5ed for issue on ..L. andweresigned on its behalfby: MrRW ler ee The notes fom part of these financial statements -1

MUSTARD SEED TRUST (MARLBOROUGH)

`NOTES TO THE FINANCIAL STATEMENTS`

`FOR THE YEAR ENDED 31 MARCH 2022`

`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 2022`

`1. ACCOUNTING POLICIES - continued`

`Fund accounting`

Furtherexplanationofthenatureandpurposeofeachfundis includedin thenotestothe financial
statements.

`2. DONATIONS AND LEGACIES`

`2.`	`DONATIONS AND LEGACIES`
		`31.3.22`	`31.3.21`
		`£`	`£`
	`Donations`	`61`	`177`
	`Donation from connected Coffeeshop`	`3,524`	`1,189`
		`3,585`	`1,366`
`3.`	`OTHER TRADING ACTIVITIES`
		`31.3.22`	`31.3.21`
		`£`	`£`
	`Book commission income`	`1,384`	`-`
`4.`	`INVESTMENT INCOME`
		`31.3.22`	`31.3.21`
		`£`	`£`
	`Interest income`	`6`	`16`
`5.`	`OTHER INCOME`
		`31.3.22`	`31.3.21`
		`£`	`£`
	`Government Grants re Covid19`	`2,667`	`19,431`

continued...

-12-

`MUSTARD SEED TRUST (MARLBOROUGH)`

`NOTES TO THE FINANCIAL STATEMENTS - continued`

`FOR THE YEAR ENDED 31 MARCH 2022`

`6. CHARITABLE ACTIVITIES COSTS`

`CHARITABLE ACTIVITIES COSTS`
	`Direct`
	`Costs (see`
	`note 7)`
	`£`
`Cost bookshop sales items sold`	`16,826`
`Bookshop operating expenses`	`8,523`
	`25,349`

`7. 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` `Consumables` `Repairs & maintenance` `Capital expenditure < £100` `Bank & credit card charges` `Staff training & welfare` `Depreciation`	`31.3.22` `£` `732` `16,826` `1,500` `2,158` `509` `179` `109` `327` `644` `(173)` `623` `152` `505` `-` `279` `207` `772` `25,349`	`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`

`8. NET INCOME/(EXPENDITURE)`

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets

`31.3.22`	`31.3.21`
`£`	`£`
`772`	`891`

continued...

-13-

`MUSTARD SEED TRUST (MARLBOROUGH)`

`NOTES TO THE FINANCIAL STATEMENTS - continued`

`FOR THE YEAR ENDED 31 MARCH 2022`

`9. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2022nor for
the year ended 31 March 2021.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31March2022norfortheyear ended
31 March 2021.

`10. TANGIBLE FIXED ASSETS`

`10.`	`TANGIBLE FIXED ASSETS`
			`Fixtures,`
			`fittings,`
			`equipment`
			`£`
	`COST`
	`At 1 April 2021 and 31 March 2022`		`24,564`
	`DEPRECIATION`
	`At 1 April 2021`		`21,828`
	`Charge for year`		`772`
	`At 31 March 2022`		`22,600`
	`NET BOOK VALUE`
	`At 31 March 2022`		`1,964`
	`At 31 March 2021`		`2,736`
`11.`	`STOCKS`
		`31.3.22`	`31.3.21`
		`£`	`£`
	`Finished goods`	`9,388`	`10,002`

continued...

-14-

`MUSTARD SEED TRUST (MARLBOROUGH)`

`NOTES TO THE FINANCIAL STATEMENTS - continued`

`FOR THE YEAR ENDED 31 MARCH 2022`

`12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`
	`31.3.22`	`31.3.21`
	`£`	`£`
`Trade debtors`	`807`	`284`
`Amounts owed by participating interests`	`5,588`	`7,255`
`Other debtors`	`-`	`434`
`VAT`	`-`	`193`
	`6,395`	`8,166`

TheparticipatinginterestsistheconnectedtradingcompanyMustardSeedMarlboroughLtd, also
known as the Coffee Shop.

`13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`CREDITORS: AMOUNTS FALLING DUE WITHIN`	`ONE YEAR`
	`31.3.22`	`31.3.21`
	`£`	`£`
`Trade creditors`	`1,146`	`2,988`
`VAT`	`38`	`-`
	`1,184`	`2,988`

`14. MOVEMENT IN FUNDS`

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`Net` `movement` `At 1.4.21` `in funds` `£` `£` `62,062` `9,994` `62,062` `9,994`	`At` `31.3.22` `£` `72,056`
		`72,056`

Net movement in funds, included in the above are as follows:

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`Incoming` `Resources` `Movement` `resources` `expended` `in funds` `£` `£` `£` `35,343` `(25,349)` `9,994` `35,343` `(25,349)` `9,994`

continued...

-15-

`MUSTARD SEED TRUST (MARLBOROUGH)`

`NOTES TO THE FINANCIAL STATEMENTS - continued`

`FOR THE YEAR ENDED 31 MARCH 2022`

`14. MOVEMENT IN FUNDS - continued`

`Comparatives for movement in funds`

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`Net` `movement` `At 1.4.20` `in funds` `£` `£` `43,389` `18,673` `43,389` `18,673`	`At` `31.3.21` `£` `62,062`
		`62,062`

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` `£` `£` `£` `33,842` `(15,169)` `18,673` `33,842` `(15,169)` `18,673`

A current year 12 months and prior year 12 months combined position is as follows:

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`Net` `movement` `At 1.4.20` `in funds` `£` `£` `43,389` `28,667` `43,389` `28,667`	`At` `31.3.22` `£` `72,056`
		`72,056`

continued...

-16-

`MUSTARD SEED TRUST (MARLBOROUGH)`

`NOTES TO THE FINANCIAL STATEMENTS - continued`

`FOR THE YEAR ENDED 31 MARCH 2022`

`14. MOVEMENT IN FUNDS - continued`

Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`Incoming` `Resources` `Movement` `resources` `expended` `in funds` `£` `£` `£` `69,185` `(40,518)` `28,667` `69,185` `(40,518)` `28,667`

`15. OTHER FINANCIAL COMMITMENTS`

At31March2022theCharity(togetherwithitsconnectedtradingcompany)hadasix month
commitment under a non-cancellable operating lease as follows:

	`2022`	`2021`
	`Land &`	`Land &`
	`buildings`	`buildings`
	`£`	`£`
`Expiry date:`
`Within one year`	`4,500`	`4,500`

`16. RELATED PARTY DISCLOSURES`

ThepremisesinwhichMustardSeedoperatesareownedbyMrsRMaurice,thelandlord.Mrs R
MauricewasoneofthefoundersoftheCharityandcontinuestobeakeyvolunteerintherole of
the Managerof the Charity.The landlordsupportsthe charityby reducingthe financialand  property
riskontheCharitybyenablingtheCharitytorentpremisesnearMarlboroughHighStreet without
theCharityneedingtobuyitsownpropertyorenterintoaleasewitha3or5year financial
commitmentwithathirdpartylandlord.Athirdpartyleasewouldhavethefinancialriskof high
rentincreases,as wellas theoperationalriskthatat theend of thetermthelandlordcouldask the
Charitytoleavethepremises,whichwouldbeverydisruptivetotheaimsoftheCharityand could
eventhreatenitslongtermviability.Thelandlordhasconfirmedthatthereisnointentionto ask
theCharitytoleavethepremisesandiscontenttorentthepremisestotheCharityonayear by
yearbasis,withsixmonthnoticeofterminationoneitherside.Thelandlordhascommitted to
providethepremisestotheTrustonastablebasisatalevelofrentthatisbelowthemarket rate.
Thereisarentreviewevery3yearswhichisundertakentoensurethattherentchargedis below
market value.

DuringtheCovid19pandemicin2020and2021,thelandlordgranteda6monthrentfree period
followedby6monthsathalfrent,paymentofwhichcouldbedeferred.Fortheyearending 31
March2022the landlordreducedthe contractualrent by 25% for the wholeyear and has  confirmed
thatthisrentreductionwillcontinueforthenext2financialyears,withthepossibilityofa further
extension.

continued...

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MUSTARD SEED TRUST (MARLBOROUGH)

`NOTES TO THE FINANCIAL STATEMENTS - continued`

`FOR THE YEAR ENDED 31 MARCH 2022`

`16. RELATED PARTY DISCLOSURES - continued`

DuringtheyeartheCharity,togetherwithitsconnectedtradingcompanytheCoffeeShop,paid a
combinedrenttotheLandlordsof£9,000(2021:£3,000).Therewasnooutstandingbalances at
the end of the year  (2021: £2,500).

`17. ULTIMATE CONTROLLING PARTY`

MustardSeedTrust(Marlborough)isconnectedtoMustardSeed(Marlborough)Ltd,the Coffee
Shop,a tradingcompany.Bothcompaniesareunderthe commoncontrolof the Trusteesshown in
the Report of the Trustees.

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