``` 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 2023 ``` ## **`FOR`** ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ``` MUSTARD SEED TRUST (MARLBOROUGH) ``` ## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023`** ||**`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 19`| ``` MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068) ``` ## **`REPORT OF THE TRUSTEES`** ## **`FOR THE YEAR ENDED 31 MARCH 2023`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present theirreportwiththefinancialstatementsofthecharityfortheyearended31March2023.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 educational and outreach events with Christian authors` - `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 2023`** ## **`ACHIEVEMENT AND PERFORMANCE`** ## **`Charitable activities`** ``` InadditiontomakingChristianbooks,cardsandliteratureavailabletothepublicforpurchase and providing information, in the year ended 31 March 2023, the Trust also: ``` - `Provided Bibles and advice to Ogbourne St George Primary, Chilton Foliat, Preshute, Lydiard Millicent,` - `Pewsey, and Chirton 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 Coffeeshop as it provides a conducive environment for the exploration and fostering of the Christian faith` - `Supported adults with learning difficulties who are part of the Team` - `Our special needs volunteers coloured bible verse bookmarks which are attached to all our paper bags:` - `this is a ministry/service that is greatly appreciated and we get written notes expressing their significance to the recipient` - `Facilitated a quarterly book group` - `Provided bookstalls at author event in Pewsey` - `Our volunteers provided added personal service and they feel Mustard Seed provides a setting for their` - `expression of Christian ministry` - `Hosted a weekly Speak Spanish group` ``` -2- ``` ``` MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068) ``` ## **`REPORT OF THE TRUSTEES`** ## **`FOR THE YEAR ENDED 31 MARCH 2023`** ## **`FINANCIAL REVIEW`** ## **`Financial results 2023`** ``` Intheyearended31stMarch2023theTrustincurredanetexpenditureof£936(2022:Net income £9,994).2022includeda donationunder Gift Aid of £3,524fromthe connectedCoffeeshop,Mustard Seed (Marlborough)Ltd,butin2023therewasnodonationastheCoffeeshopdidnotmakeataxable profit. 2022alsoincludedaGovernmentCovidSupportGrantof£2.667buttherewasnograntin2023. The bookshopsalesin2023werelowerthan2022andthecostsofstaffreturnedtoanormallevel. The nationaleconomywas still comingout of the Covid19disruptionsand also having to adjust to the increased costoflivingduetotheRussianinvasionofUkraine.WiththiseconomicbackcloththeTrustees consider the results for 2023 as good. ``` ``` TheTrusteesareverythankfulforallthesupportreceivedinthisandtheprevioustwoyearsfrom the Government,thestaffofboththeBookshopandtheCoffeeshopandfromthelandlord.Without that support the future was very uncertain. ``` ``` ThecombinedresultoftheBookshopandtheCoffeeshopfortheyearwasanetexpenditureof £2,816 (2022:Net income£8,752).The expectationfor 2024is breakevenas we continueto rebuild and adjust to the new market conditions. ``` ``` 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 March2023the freereservesof £63,303(approx19 months)areabovethe targetrangeof £10,000 to£20,000.TheTrusteesarecomfortablewiththislevelofreservesasthisenablestheTrusttoadjust its cost structureshould this prove necessaryand allow the Trust to continueits activitiesin the event that the Coffeeshop 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 2023`** ## **`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 Coffeeshop - 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 2023`** ## **`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`** ``` 1015804 ``` ## **`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, Member of ICAEW 8 South View Place Marlborough SN8 1DD ``` ``` -5- ``` MUSTARD SEEDTRusr RE(aSTERED NUMBER: 02763068 REPORT OFTHE TRusfEES R THE YEAR ENDED 202a REFERENCE AND ADMINisfRATIVE ￿AlL$ Treasurer Mrs R M3urice Manager Mrs R Maurice Bankers HSBC Bank Ltd Unlt 6 The Lock Canal Walk Swindon .SNI ILD STATEMENTOF TrUSTEES' RESPONSIBILMES The trustees Iwho are also the dirertors of Mustard Seed Trust {Marlborou£hl for the purposes of company lawl are iesponsible for preparing the Report of the Tw5tees and the financial statements in accordance with applicable law and United knngdorn Accounting Standar(k Iunited Kingdom Generally Accepted Accounting Practtcel. Company law requires the trLStees to prepare fiTrancial statements for each financial year whKh give 3 true and fair view of the stste of affairs of the tharitable company and of the incoming resources and application of resour￿, including the income and expenditure. of the tharitable company for that perlod. In prepaiin8 those finanaal statements. the trust￿ are requi￿1 to select suitable accounting policies and then app￿thern con5iStentiy,- observe the method5 and principle5 in the Charity SORP; make jud8ements and estimates that are reasonable prudent prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable tompafry will continue in b￿"ne$S The trustees ere responsible for keeping proper accounting rec¢)rds whKh disclose with reasonable accuracy at any time the flnarKial posttson of the charitable company and to enable them to ensure that the finanaal ststements comply with the Companies Act 21)J6. They are a150 responsible for safegisarding the assets of the charitsble company and herKe for tskirE reasonable steps for prevention and etettion of fraud and other irregularitses. This report has been prepared ITr accordan￿ wth the speLyal provisions of Part 15 of the Companies Art 2006 relatingto small companies. Approved by orderof the board of trustees on 30 November 2023 aNJ signed ￿ its behalf by: Mr R Wheeler I report to the d￿rity trustees on eXaMN￿ll0n of the accounts of the Company for the year ended 31 March 2023. As the charW5 trustses of the Cornp￿ry (and also its directors for the pUr￿Se5 of c(Nnpany law) you are re5pofLSible for ts weparntl￿ of the ac£`Unrestricted`
`funds`
`Notes`
`£`
**`FIXED ASSETS`**
`Tangible assets`
`11`
`1,329`
**`CURRENT ASSETS`**
`Stocks`
`12`
`8,587`
`Debtors`
`13`
`4,708`
`Cash at bank`
`57,795`
`71,090`
**`CREDITORS`**
`Amounts falling due within one year`
`14`
`(1,299)`
**`NET CURRENT ASSETS`**
`69,791`
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
`71,120`
**`NET ASSETS`**
`71,120`
**`FUNDS`**
`15`
`Unrestricted funds`
`71,120`
**`TOTAL FUNDS`**
`71,120`|`31.3.22`
`Total`
`funds`
`£`
`1,964`
`9,388`
`6,395`
`55,493`
`71,276`
`(1,184)`
`70,092`
`72,056`
`72,056`
`72,056`
`72,056`| |---|---| ``` The charitablecompanyis entitledto exemptionfromauditunderSection477of the CompaniesAct 2006 for the year ended 31 March 2023. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year ended 31 March 2023 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 SEEDTRusr NUMBEK" 0276￿168 31 MARCH 2023 These financial 5tatemeryts ha￿ prepared in accordance with the provisk)ns applicable to charf(able Companies subjert to the small companies rewme. The financial statements were approved by the Board of TTU5tees and authorised for issue on 30 November 2023 and were signed on IES behalf by: Mr R Wheeler The notes fom part ofthese financial statements -1 ``` MUSTARD SEED TRUST (MARLBOROUGH) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS`** ## **`FOR THE YEAR ENDED 31 MARCH 2023`** ## **`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 2023`** ## **`1. ACCOUNTING POLICIES - continued`** ## **`Fund accounting`** ``` Furtherexplanationofthenatureandpurposeofeachfundis includedin thenotestothe financial statements. ``` ## **`2. DONATIONS AND LEGACIES`** |**`2.`**|**`DONATIONS AND LEGACIES`**||| |---|---|---|---| |||`31.3.23`|`31.3.22`| |||`£`|`£`| ||`Donations`|`61`|`61`| ||`Donation from connected Coffeeshop`|`-`|`3,524`| |||`61`|`3,585`| |**`3.`**|**`OTHER TRADING ACTIVITIES`**||| |||`31.3.23`|`31.3.22`| |||`£`|`£`| ||`Book commission income`|`752`|`1,384`| |**`4.`**|**`INVESTMENT INCOME`**||| |||`31.3.23`|`31.3.22`| |||`£`|`£`| ||`Interest income`|`250`|`6`| |**`5.`**|**`OTHER INCOME`**||| |||`31.3.23`|`31.3.22`| |||`£`|`£`| ||`Government Grant re Covid19`|`-`|`2,667`| ``` continued... ``` ``` -12- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2023`** ## **`6. CHARITABLE ACTIVITIES COSTS`** |`Cost bookshop sales items sold`
`Bookshop operating expenses`
**`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`
`Bank & credit card charges`
`Staff training & welfare`
`Depreciation`
**`NET INCOME/(EXPENDITURE)`**
`Net income/(expenditure) is stated after charging/(crediting):`
`Depreciation - owned assets`|`Direct`
`Costs (see`
`note 7)`
`£`
`14,893`
`11,479`
`26,372`
`31.3.23`
`31.3.22`
`£`
`£`
`2,162`
`732`
`14,893`
`16,826`
`1,500`
`1,500`
`3,095`
`2,158`
`477`
`509`
`96`
`179`
`52`
`109`
`602`
`327`
`522`
`644`
`-`
`(173)`
`544`
`623`
`135`
`152`
`676`
`505`
`391`
`279`
`592`
`207`
`635`
`772`
`26,372`
`25,349`
`31.3.23`
`31.3.22`
`£`
`£`
`635`
`772`| |---|---| ## **`7. DIRECT COSTS OF CHARITABLE ACTIVITIES`** ## **`8. NET INCOME/(EXPENDITURE)`** ``` continued... ``` ``` -13- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2023`** ## **`9. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2023nor for the year ended 31 March 2022. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31March2023norfortheyear ended 31 March 2022. ``` ## **`10. STAFF COSTS`** ``` The average monthly number of employees during the year was as follows: ``` |`Part time staff`
`No employees received emoluments in excess of £60,000.`|`31.3.23`
`1`|`31.3.22`
`1`| |---|---|---| ||`2023`|`2022`| ||`£`|`£`| |`Salaries & wages`|`2,162`|`732`| |`Social security costs`|`-`|`-`| |||| ||`2,162`|`732`| |||| |||| ``` Thetotalnumberofpart-timeemployeesduringtheyearwas1.Therewerenofull time employees. ``` ``` Theaveragenumberofemployeesduringtheyear,calculatedonthebasisoffull-time equivalents, was: ``` ||`2023`|`2022`
`£`
`0.1`
`-`
`0.1`| |---|---|---| ||`£`|| |`Bookshop`|`0.6`|| |`Management`|`-`|| |||| ||`0.6`|| |||| |||| ``` Managementreceivedno remunerationand were volunteersfor the year ended 31 March 2023 and for the year ended 31 March 2022. ``` ``` continued... ``` ``` -14- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2023`** ## **`11. TANGIBLE FIXED ASSETS`** |**`11.`**|**`TANGIBLE FIXED ASSETS`**||| |---|---|---|---| ||||`Fixtures,`| ||||`fittings,`| ||||`equipment`| ||||`£`| ||**`COST`**||| ||`At 1 April 2022 and 31 March 2023`||`24,564`| ||**`DEPRECIATION`**||| ||`At 1 April 2022`||`22,600`| ||`Charge for year`||`635`| ||`At 31 March 2023`||`23,235`| ||**`NET BOOK VALUE`**||| ||`At 31 March 2023`||`1,329`| ||`At 31 March 2022`||`1,964`| |**`12.`**|**`STOCKS`**||| |||`31.3.23`|`31.3.22`| |||`£`|`£`| ||`Finished goods`|`8,587`|`9,388`| |**`13.`**|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**||| |||`31.3.23`|`31.3.22`| |||`£`|`£`| ||`Trade debtors`|`311`|`807`| ||`Amounts owed by participating interests`|`4,397`|`5,588`| |||`4,708`|`6,395`| ``` TheparticipatinginterestsistheconnectedtradingcompanyMustardSeedMarlboroughLtd, also known as the Coffeeshop. ``` ``` continued... ``` ``` -15- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2023`** ## **`14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** ||`31.3.23`|`31.3.22`| |---|---|---| ||`£`|`£`| |`Trade creditors`|`1,031`|`1,146`| |`Social security and other taxes`|`261`|`-`| |`VAT`|`7`|`38`| ||`1,299`|`1,184`| ## **`15. 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`**|`Net`
`movement`
`At`
`At 1.4.22`
`in funds`
`31.3.23`
`£`
`£`
`£`
`72,056`
`(936)`
`71,120`
`72,056`
`(936)`
`71,120`
`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`25,436`
`(26,372)`
`(936)`
`25,436`
`(26,372)`
`(936)`
`Net`
`movement`
`At`
`At 1.4.21`
`in funds`
`31.3.22`
`£`
`£`
`£`
`62,062`
`9,994`
`72,056`
`62,062`
`9,994`
`72,056`| |---|---| ``` continued... ``` ``` -16- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2023`** ## **`15. 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`
`£`
`£`
`£`
`35,343`
`(25,349)`
`9,994`
`35,343`
`(25,349)`
`9,994`| |---|---| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Net`
`movement`
`At 1.4.21`
`in funds`
`£`
`£`
`62,062`
`9,058`
`62,062`
`9,058`|`At`
`31.3.23`
`£`
`71,120`| |---|---|---| |||`71,120`| ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`60,779`
`(51,721)`
`9,058`
`60,779`
`(51,721)`
`9,058`| |---|---| ``` continued... ``` ``` -17- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2023`** ## **`16. OTHER FINANCIAL COMMITMENTS`** ``` At31March2023theCharity(togetherwithitsconnectedtradingcompany)hadasix month commitment under a non-cancellable operating lease as follows: ``` |`commitment under a non-cancellable operating lease as follows:`||| |---|---|---| ||`2023`|`2022`| ||`Land &`|`Land &`| ||`buildings`|`buildings`| ||`£`|`£`| |`Expiry date:`||| |`Within one year`|`4,500`|`4,500`| |||| ## **`17. 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 that this rent reduction will continue until 31 March 2024, with the possibility of a further extension. ``` ``` DuringtheyeartheCharity,togetherwithitsconnectedtradingcompanytheCoffeeShop,paid a combinedrent to the Landlordof £9,000(2022:£9,000).Therewas no outstandingbalancesat the end of the year (2022: £nil). ``` ``` continued... ``` ``` -18- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2023`** ## **`18. ULTIMATE CONTROLLING PARTY`** ``` MustardSeedTrust(Marlborough)isconnectedtoMustardSeed(Marlborough)Ltd,the Coffee Shop,a tradingcompany.Bothcompaniesareunderthe commoncontrolof the Trusteesshown in the Report of the Trustees. ``` ``` -19- ```