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 2025
FOR
MUSTARD SEED TRUST (MARLBOROUGH)
MUSTARD SEED TRUST (MARLBOROUGH)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
|
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 2025
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31March2025.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 2025
ACHIEVEMENT AND PERFORMANCE
Charitable activities
InadditiontomakingChristianbooks,cardsandliteratureavailabletothepublicforpurchase and
providing information, in the year ended 31 March 2025, the Trust also:
-
Provided Bibles and advice to Ogbourne St George Primary, Chilton Foliat, Preshute, Lydiard Millicent,
-
Pewsey, and Chirton, Ramsbury and Upper Kennet schools
-
Provided a wide range of resources and church requisites to local churches
-
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
-
Arranged and hosted author event with George Lings
-
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
-
-Hosted a weekly 'Happy Café' for those with mental health issues
-2-
MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
Financial results 2025
Intheyearended31stMarch2025theTrustincurredanetexpenditureordeficitof£2,793(2024: Net
expenditure£694).In 2025the connectedCoffeeshop,MustardSeed(Marlborough)Ltd,madea profit of
£1,212(2024:Loss of £2,091).Althoughthe Coffeeshopmade an accountingprofitit was not able to make
a donation under Gift Aid to the Bookshop because the tax losses brought forward reduced this to nil.
After4 yearsof lossesby theCoffeeshopit becameclearin 2025thatunlesstheCoffeeshopcould reduce
itsoperatingcoststhenitwasnolongergoingtobeviable.TheTrustwantstokeepthe Coffeeshop
operatingastheatmosphereitgeneratesissupportiveofandfostersthepurposesofthe Bookshop
operatedby the Trust.To enablethe Coffeeshopto continueto tradein 2025and goingforwardthe Trust
reducedtheannualrentpayablebytheCoffeeshop.ThisrentreductionhasallowedtheCoffeeshop to
make a profit in 2025 which the Trustees hope can be maintained in the future.
AlthoughBookshopsalesin the yearincreasedby 3% to £27,053the amountof the grossmarginwas only
slightlymorethanin 2024.TherentreductiontotheCoffeeshopin 2025meantthattherentpayable by
theTrustincreasedaccordingly.Operatingexpensesincreasedfrom£13,146to£19,715,mostof the
increasewascausedbytheincreasedrentnowpayablebytheBookshop.TheBookshop net
expenditure/deficitin the year increasedfrom £694to £2,793.This is after receivinga one-offdonation of
£3,125 including gift aid.
TheTrusteesareverythankfulforallthesupportreceivedfromthestaffofboththeBookshopand the
Coffeeshop and from the landlord who continues to be very supportive.
ThecombinedresultoftheBookshopandtheCoffeeshopforthe2025wasanetexpenditure/deficit of
£1,581(2024:Netexpenditure£2,785).Theexpectationfor2026is combinednetexpenditure/deficit of
around £5,000. This expected deficit is well supported by the Trust's realisable reserves of £58,881.
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.
At31March2025therealisablereservesof£58,881(approx13months)areabovethetargetrange of
£13,500to£27,000.TheTrusteesarecomfortablewiththislevelofreservesasthisenablestheTrust to
adjust its cost structure should this prove necessary and allow the Trust to continue its activities
-3-
MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
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 2025
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 R Mann
Ms S M Wylie
Dr P Tulloch
Mr G K Pells
Company Secretary
Dr P Tulloch
Independent Examiner
Mrs L Blunden, Member of ICAEW
8 South View Place
Marlborough
SN8 1DD
-5-
MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Treasurer
Mrs R Maurice
Manager
Mrs R Maurice
Bankers
HSBC Bank Ltd
Unit 6 The Lock
Canal Walk
Swindon
SN1 1LD
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees(who are also the directorsof MustardSeed Trust (Marlborough)for the purposesof company
law)areresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatementsin accordance
withapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerally Accepted
Accounting Practice).
Companylaw requiresthe trusteesto preparefinancialstatementsfor each financialyear which give a true
andfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresources and
applicationof resources,includingthe incomeand expenditure,of the charitablecompanyforthat period.
In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewith reasonable
accuracyatanytimethefinancialpositionofthecharitablecompanyandtoenablethemtoensure that
thefinancialstatementscomplywiththeCompaniesAct2006.Theyarealsoresponsiblefor safeguarding
theassetsofthecharitablecompanyandhencefortakingreasonablestepsfortheprevention and
detection of fraud and other irregularities.
ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompanies Act
2006 relating to small companies.
Approved by order of the board of trustees on 19 November 2025 and signed on its behalf by:
Mr R Wheeler - Trustee
-6-
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MUSTARD SEED TRUST (MARLBOROUGH)
Independent examiner's report to the trustees of Mustard Seed Trust (Marlborough) ('the Company')
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 March 2025.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsiblefor the preparationof the accountsin accordancewith the requirementsof the Companies Act
2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobe auditedunderPart16 of
the2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutundersection145oftheCharitiesAct2011('the2011Act').In carrying
outmyexaminationI havefollowedtheDirectionsgivenbytheCharityCommissionundersection 145(5)
(b) of the 2011 Act.
Independent examiner's statement
I have completedmy examination.I confirmthat no mattershave come to my attentionin connection with
the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
Mrs L Blunden, Member of ICAEW
8 South View Place
Marlborough
SN8 1DD
22 November 2025
-7-
MUSTARD SEED TRUST (MARLBOROUGH)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
|
|
31.3.25 |
31.3.24 |
|
|
Unrestricted |
Total |
|
|
funds |
funds |
|
Notes |
£ |
£ |
INCOME AND ENDOWMENTS FROM |
|
|
|
Donations and legacies |
2 |
3,221 |
107 |
Charitable activities |
|
|
|
Bookshop sales |
|
27,053 |
26,244 |
Other trading activities |
3 |
689 |
631 |
Investment income |
4 |
2,061 |
909 |
Total |
|
33,024 |
27,891 |
EXPENDITURE ON |
|
|
|
Charitable activities |
5 |
|
|
Cost bookshop sales items sold |
|
16,102 |
15,439 |
Bookshop operating expenses |
|
19,715 |
13,146 |
Total |
|
35,817 |
28,585 |
NET INCOME/(EXPENDITURE) |
|
(2,793) |
(694) |
RECONCILIATION OF FUNDS |
|
|
|
Total funds brought forward |
|
70,426 |
71,120 |
TOTAL FUNDS CARRIED FORWARD |
|
67,633 |
70,426 |
The notes form part of these financial statements
-8-
MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068)
BALANCE SHEET
31 MARCH 2025
31.3.25
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
10
995
CURRENT ASSETS
Stocks
11
7,757
Debtors
12
3,323
Cash at bank
58,597
69,677
CREDITORS
Amounts falling due within one year
13
(3,039)
NET CURRENT ASSETS
66,638
TOTAL ASSETS LESS CURRENT LIABILITIES
67,633
NET ASSETS
67,633
FUNDS
14
Unrestricted funds
67,633
TOTAL FUNDS
67,633 |
31.3.24
Total
funds
£
966
8,011
5,358
58,155
71,524
(2,064)
69,460
70,426
70,426
70,426
70,426 |
|
|
The charitablecompanyis entitledto exemptionfromauditunderSection477of the CompaniesAct 2006
for the year ended 31 March 2025.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31 March 2025 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 TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068)
BALANCE SHEET - continued
31 MARCH 2025
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
19 November 2025 and were signed on its behalf by:
Mr R Wheeler - Trustee
The notes form part of these financial statements
-10-
MUSTARD SEED TRUST (MARLBOROUGH)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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 2025
1. ACCOUNTING POLICIES - continued
Fund accounting
Furtherexplanationofthenatureandpurposeofeachfundis includedin thenotestothe financial
statements.
2. DONATIONS AND LEGACIES
2. |
DONATIONS AND LEGACIES |
|
|
|
|
31.3.25 |
31.3.24 |
|
|
£ |
£ |
|
Donations |
3,221 |
107 |
3. |
OTHER TRADING ACTIVITIES |
|
|
|
|
31.3.25 |
31.3.24 |
|
|
£ |
£ |
|
Book commission income |
689 |
631 |
4. |
INVESTMENT INCOME |
|
|
|
|
31.3.25 |
31.3.24 |
|
|
£ |
£ |
|
Interest income |
2,061 |
909 |
5. |
CHARITABLE ACTIVITIES COSTS |
|
|
|
|
|
Direct |
|
|
|
Costs (see |
|
|
|
note 6) |
|
|
|
£ |
|
Cost bookshop sales items sold |
|
16,102 |
|
Bookshop operating expenses |
|
19,715 |
|
|
|
35,817 |
continued...
-12-
MUSTARD SEED TRUST (MARLBOROUGH)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
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
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 |
31.3.25
£
5,024
16,102
6,750
4,021
594
155
218
371
494
636
231
218
551
231
221
35,817
31.3.25
£
221 |
31.3.24
£
4,314
15,439
1,500
3,678
506
173
48
287
408
672
93
320
540
244
363 |
|
|
28,585 |
|
|
31.3.24
£
363 |
7. NET INCOME/(EXPENDITURE)
8. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2025nor for
the year ended 31 March 2024.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31March2025norfortheyear ended
31 March 2024.
continued...
-13-
MUSTARD SEED TRUST (MARLBOROUGH)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
9. 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. |
31.3.25
1 |
31.3.24
1 |
|
2025 |
2024 |
|
£ |
£ |
Salaries & wages |
5,024 |
4,314 |
Social security costs |
- |
- |
|
|
|
|
5,024 |
4,314 |
|
|
|
|
|
|
Thetotalnumberofpart-timeemployeesduringtheyearwas1.Therewerenofull time
employees.
Theaveragenumberofemployeesduringtheyear,calculatedonthebasisoffull-time equivalents,
was:
|
2025 |
2024
£
0.6
-
0.6 |
|
£ |
|
Bookshop |
0.5 |
|
Management |
- |
|
|
|
|
|
0.6 |
|
|
|
|
|
|
|
Managementreceivedno remunerationand were volunteersfor the year ended 31 March 2025 and
for the year ended 31 March 2024.
continued...
-14-
MUSTARD SEED TRUST (MARLBOROUGH)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
10. TANGIBLE FIXED ASSETS
10. |
TANGIBLE FIXED ASSETS |
|
|
|
|
|
Fixtures, |
|
|
|
fittings, |
|
|
|
equipment |
|
|
|
£ |
|
COST |
|
|
|
At 1 April 2024 |
|
24,564 |
|
Additions |
|
250 |
|
Disposals |
|
(275) |
|
At 31 March 2025 |
|
24,539 |
|
DEPRECIATION |
|
|
|
At 1 April 2024 |
|
23,598 |
|
Charge for year |
|
221 |
|
Eliminated on disposal |
|
(275) |
|
At 31 March 2025 |
|
23,544 |
|
NET BOOK VALUE |
|
|
|
At 31 March 2025 |
|
995 |
|
At 31 March 2024 |
|
966 |
11. |
STOCKS |
|
|
|
|
31.3.25 |
31.3.24 |
|
|
£ |
£ |
|
Finished goods |
7,757 |
8,011 |
12. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
31.3.25 |
31.3.24 |
|
|
£ |
£ |
|
Trade debtors |
983 |
937 |
|
Amounts owed by participating interests |
1,767 |
3,931 |
|
Other debtors |
499 |
439 |
|
VAT |
74 |
51 |
|
|
3,323 |
5,358 |
TheparticipatinginterestsistheconnectedtradingcompanyMustardSeedMarlboroughLtd, also
known as the Coffeeshop.
continued...
-15-
MUSTARD SEED TRUST (MARLBOROUGH)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
14.
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 |
31.3.25
31.3.24
£
£
2,800
2,010
239
54
3,039
2,064
Net
movement
At
At 1.4.24
in funds
31.3.25
£
£
£
70,426
(2,793)
67,633
70,426
(2,793)
67,633
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
33,024
(35,817)
(2,793)
33,024
(35,817)
(2,793)
Net
movement
At
At 1.4.23
in funds
31.3.24
£
£
£
71,120
(694)
70,426
71,120
(694)
70,426 |
|
|
continued...
-16-
MUSTARD SEED TRUST (MARLBOROUGH)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
14. 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
£
£
£
27,891
(28,585)
(694)
27,891
(28,585)
(694) |
|
|
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
At 1.4.23
in funds
£
£
71,120
(3,487)
71,120
(3,487) |
At
31.3.25
£
67,633 |
|
|
67,633 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
60,915
(64,402)
(3,487)
60,915
(64,402)
(3,487) |
|
|
continued...
-17-
MUSTARD SEED TRUST (MARLBOROUGH)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
15. OTHER FINANCIAL COMMITMENTS
At31March2025theCharity(togetherwithitsconnectedtradingcompany)hadasix month
commitment under a non-cancellable operating lease as follows:
commitment under a non-cancellable operating lease as follows: |
|
|
|
2025 |
2024 |
|
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.
DuringtheyeartheCharity,togetherwithitsconnectedtradingcompanytheCoffeeShop,paid a
combinedrenttotheLandlordof£9,000(2024:£9,000).Theoutstandingbalancesattheend of
the year was £1,500 (2024: £750).
17. ULTIMATE CONTROLLING PARTY
MustardSeedTrust(Marlborough)isconnectedtoMustardSeed(Marlborough)Ltd,the Coffee
Shop,a tradingcompany.Bothcompaniesareunderthe commoncontrolof the Trusteesshown in
the Report of the Trustees.
-18-