``` 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- ```