Docusign Envelope ID: 8712C293-D87D-452C-A2E6-6300C1149C7D
Charity number: 1038446
THE MONSOON ACCESSORIZE TRUST
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Docusign Envelope ID: 8712C293-D87D-452C-A2E6-6300C1149C7D
THE MONSOON ACCESSORIZE TRUST
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Trust, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 20 |
Docusign Envelope ID: 8712C293-D87D-452C-A2E6-6300C1149C7D
THE MONSOON ACCESSORIZE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE TRUST, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025
| Trustees | D Pine |
|---|---|
| M Holloway | |
| S Preisig (appointed 27 March 2026) | |
| Charity registered number 1038446 Principal office 1 Nicholas Road London W11 4AN Independent examiner Richard Smith on behalf of Brebners 130 Shaftesbury Avenue London W1D 5AR Bankers Barclays Bank Plc 1 Churchill Place E14 5HP Solicitors RWK Goodman 69 Carter Lane London EC4V 5EQ |
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Docusign Envelope ID: 8712C293-D87D-452C-A2E6-6300C1149C7D
THE MONSOON ACCESSORIZE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2025
The Trustees present their annual report together with the financial statements of the Charity for the year 1 September 2024 to 31 August 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts, the Charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published in October 2019.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The Monsoon Accessorize Trust was founded on 25 May 1994. It is constituted by a Deed of Trust and is a registered Charity No. 1038446. The address of The Monsoon Accessorize Trust is: 1 Nicholas Road, London W11 4AN. The Deed of Trust places no significant restrictions on the way in which the Charity can operate. The Monsoon Accessorize Trust is not incorporated.
Method of appointment or election of trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Monsoon uses a transparent and fair method when recruiting new trustees and will select Trustees based on both their general competencies and any specialist skill set deemed required. Any new Trustees are provided with a suitable induction to allow them to discharge their responsibilities in the effective governance of the Trust.
Organisational structure and decision making
The Trust had two Trustees during the financial year, and an additional Trustee has been appointed post year end.
The serving Trustees have diverse backgrounds that bring different skills to the Board. Trustees serve until they resign. The Board of Trustees meet quarterly to review the progress of existing projects, evaluate finances, consider new proposals, and monitor the risk environment of the Trust’s activities. The Trust primarily works with Non-Governmental Organisations (NGOs) and grassroot organisations based in countries with which the operational businesses of the Monsoon and Accessorize brands have, or have had, trading links.
Funds are raised through various means, which include but are not limited to, external product sample sales; third party donations; payroll giving; donations from related operational companies of the Monsoon and Accessorize brands; and targeted periodic fundraising activities.
Risk management
The Trustees regularly assess the major risks to which the Charity is exposed, including those related to the operations and finances of the Charity and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. The Trust exercises a strong due diligence process ensuring that all current and new partners are screened before any contractual agreement is signed and before any such grant is awarded to the partner.
OBJECTIVES AND ACTIVITIES
Policies and objectives
The principal objectives of the Charity are the relief of poverty through education, healthcare, and income generation projects for disadvantaged women and children, principally with communities in Asia, but not exclusively so.
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THE MONSOON ACCESSORIZE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
Activities undertaken to achieve objectives
Some of the key projects that received on-going funding and support were:
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Water Wisdom Foundation. The Trust supports Water Wisdom Foundation, which is non-profit organization dedicated to expanding access to safe and secure water supplies across India. The initial primary focus is on the dryland communities of Rajasthan. The Trust’s grant was in relation to specific marginalized villages near Jaipur Rajasthan, India. The Trust will undertake a one-year trial with Water Wisdom. We shall be constructing and installing thirty-five rooftop rainwater harvesting systems, together with providing training on water safety testing and treatment. Additionally, we shall complete the renovation of a community pond and renovation of open wells near to the community pond and installation of a mini-decentralized water supply scheme. These initiatives should provide clean, year-round drinking water, to regenerate land and to enable livelihoods in remote rural communities.
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Turquoise Mountain. The Trust is supporting two community centres in Afghanistan’s Bamiyan valley which serve hundreds of talented Afghan carpet weavers and their families. With a shared focus on craft, heritage, and community, this collaboration and partnership between Turquoise Mountain and Monsoon has had a huge impact for hundreds of talented young people and families across Afghanistan. We have sustained our community support in the Bamiyan Valley, maintaining two weaving centres supporting about 250 carpet weavers (85 male, 164 female) and their families, over 230 children (107 male, 126 female) every year.
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Shalom Global Foundation. The Trust supports the Aashiana Shelter project based in Delhi, India, helping women and children affected by HIV/AIDS. The Trust provides funding to ensure there is appropriate counselling, nutrition, educational support, and practical awareness of HIV/AIDS in one of Delhi's slum areas. The foundation focuses on holistic care to help families live with dignity and break the cycle of poverty and stigma. The care includes providing immunity-boosting supplements, balanced food provisions, and coverage for critical healthcare expenses and check-ups. It also offers vocational training in jewellery making, tailoring, and handicrafts.
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WEST Youth Zone. The Trust is a founder patron to West Youth Zone, which is part of the OnSide Youth Zone network. Based in Hammersmith & Fulham, WEST Youth Zone is a purpose-built space for West London’s young people aged 8 – 19, and up to 25 for those with additional needs. Young people from across the borough and beyond have access to fantastic facilities and it is staffed by skilled and dedicated youth workers who truly believe in young people – helping them see what they can achieve, and giving them the skills, confidence and ambition to go for it. They offer twenty plus activities each session ranging from sports, climbing and media to skating, drama and music production. They also work with local partners to provide young people with outstanding additional programs.
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Prakratik Society. The Trust supported the Prakratik Society providing resources for the Environment Education Program at Fateh Public School at Ranthambore in India.
Grant making policies
The Charity has continued to make grants during the year in furtherance of its stated objectives. Grants are awarded following discussions between the Trustees. This includes a process of screening and due diligence of the proposed partner, with a view taken on the partner’s experience of development and the sustainability and impact of the proposed development concept.
Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting grant making policy for the year. The Trustees are satisfied that all current grant programmes and special projects meet the requirement of providing a public benefit as defined by the Charity Commission.
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THE MONSOON ACCESSORIZE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
ACHIEVEMENTS AND PERFORMANCE
Going Concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Review of activities
In the year ended 31 August 2025 the Monsoon Accessorize Trust advanced grants to five main projects and other ad hoc projects. The key on-going projects were in the UK, India and Afghanistan. All on-going projects are required to provide regular progress reports, at least annually. The Trustees are satisfied with the progress and achievements of the projects to date.
One of the ad hoc activities supported was a one-off donation in response to Hurricane Beryl in the Caribbean for the purposes of disaster recovery and associated aid to those in disadvantaged communities in Mayreau, Union Island and Cariacou.
The WEST Youth Zone project is UK based and the Trustees are keen to support appropriate UK projects where this in in line with the Trust’s objective of supporting children in disadvantaged communities. We have committed to a four-year grant and shall receive regular progress reports.
Investment policy and performance
The Deed of Trust gives the Trustees power to invest the Charity’s surplus funds as they think fit. The Charity manages cash flow as part of its day-to-day procedures. Surplus funds are currently invested in bank deposit accounts and the Trustees consider the risk to these funds to be low.
The Trust aims to make significant differences to the direct beneficiaries from the grants it makes through measures which range from protection of life, educational achievement, and transformation of livelihoods. These are more specifically covered in the section on activities undertaken in the year.
FINANCIAL REVIEW
Result for the year
In the year ended 31 August 2025 the Monsoon Accessorize Trust had total income of £238,421 (2024: £348,295) and expenditure of £316,892 (2024: £253,082). The reason for the increase in expenditure were the the new grants committed to Water Wisdom and WEST Youth Zone. The total funds of the Charity as of 31 August 2025 were £579,480 (2024: £657,951), comprising unrestricted funds.
Reserves policy
The unrestricted reserves of the Charity are £579,480 (2024: £657,951). Surplus reserves are granted as soon as practicable in line with the stated objectives of the Charity. The Trustees consider that the level of reserves available is adequate to fulfil the obligations of all its funds and has assessed this against potential risks.
PLANS FOR THE FUTURE
Future developments
The Trust will continue to develop organically, reviewing new funding opportunities as they arise.
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THE MONSOON ACCESSORIZE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
TRUSTEES AND THEIR RESPONSIBILITIES
The Trustees who served during the year and after the year end were:
M Holloway D Pine S Preisig (appointed 27 March 2026)
TRUSTEES RESPONSIBILITIES STATEMENT
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the situation of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
22-Apr-26
This report was approved by the Trustees on ..................................... and signed on their behalf by:
................................................
M Holloway Trustee
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THE MONSOON ACCESSORIZE TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2025
Independent Examiner's Report to the Trustees of The Monsoon Accessorize Trust ('the Trust')
I report to the charity Trustees on my examination of the accounts of the Trust for the year ended 31 August 2025.
Responsibilities and Basis of Report
As the Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Trust's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Trust's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Trust and the Trust's Trustees as a body, for my work or for this report.
23-Apr-26 Signed: ................................................ Dated: ...............................
RICHARD SMITH FCA ON BEHALF OF BREBNERS
130 Shaftesbury Avenue London W1D 5AR
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THE MONSOON ACCESSORIZE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025
| Note Income from: Donations 2 Activities generating funds 3 Investments 6 Total income Expenditure on: Fundraising Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2025 £ 76,880 - - 76,880 - 76,880 76,880 - - - - |
Unrestricted funds 2025 £ 53,358 80,897 27,286 161,541 20 239,992 240,012 (78,471) 657,951 (78,471) 579,480 |
Total funds 2025 £ 130,238 80,897 27,286 238,421 20 316,872 316,892 (78,471) 657,951 (78,471) 579,480 |
Total funds 2024 £ 246,305 88,097 13,893 |
|---|---|---|---|---|
| 348,295 | ||||
| 20 253,062 |
||||
| 253,082 | ||||
| 95,213 | ||||
| 562,738 95,213 |
||||
| 657,951 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 20 form part of these financial statements.
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THE MONSOON ACCESSORIZE TRUST
BALANCE SHEET AS AT 31 AUGUST 2025
| Note Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 11 Net assets Total net assets Charity funds Restricted funds 13 Unrestricted funds 13 Total funds |
684,318 34,916 719,234 (89,754) |
2025 £ 629,480 629,480 (50,000) 579,480 579,480 - 579,480 579,480 |
656,584 119,169 775,753 (82,802) |
2024 £ 692,951 692,951 (35,000) 657,951 657,951 - 657,951 657,951 |
|---|---|---|---|---|
22-Apr-26
The financial statements were approved and authorised for issue by the Trustees on ........................................... and signed on their behalf by:
................................................
M Holloway
The notes on pages 9 to 20 form part of these financial statements.
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THE MONSOON ACCESSORIZE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Monsoon Accessorize Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Monsoon Accessorize Trust is constituted by a Deed of Trust and is a registered Charity No. 1038446. The address of The Monsoon Accessorize Trust is: 1 Nicholas Road, London W11 4AN. The Deed of Trust places no significant restrictions on the way in which the Charity can operate. The Monsoon Accessorize Trust is not incorporated.
The accounts are presented in sterling, which is the functional currency of the Trust.
1.2 Income
All income is recognised once the Trust has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Trust which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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THE MONSOON ACCESSORIZE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. Accounting policies (continued)
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the Charity's educational operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled.
All expenditure is inclusive of irrecoverable VAT.
1.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Trust; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
1.5 Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities.
1.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. Accounting policies (continued)
1.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
1.9 Financial instruments
The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Trust and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Trust for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
1.11 Going Concern
The Charity has substantial cash reserves and an ongoing commitment from the operational companies of the Monsoon and Accessorize Brands. The Trustees believe the Charity will continue to receive support and, consequently, that it is appropriate to prepare the financial statements on the going concern basis.
The Charity has sufficient funds to meet all current funding obligations. In the event of income being cut, the Trustees believe that costs could be reduced accordingly and the Trust could continue in operation for the foreseeable future.
In preparing the financial statements, the Trustees have therefore adopted the going concern basis.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
2. Income from donations
| Donations Donated services and facilities Total 2025 Donations Donated services and facilities Total 2024 |
Restricted funds 2025 Unrestricted funds 2025 £ £ 76,880 49,327 - 4,031 76,880 53,358 Restricted funds 2024 Unrestricted funds 2024 £ £ 43,147 199,146 - 4,012 43,147 203,158 |
Total funds 2025 £ 126,207 4,031 |
|---|---|---|
| 130,238 | ||
| Total funds 2024 £ 242,293 4,012 |
||
| 246,305 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
2. Income from donations (continued)
The following donations were received or receivable during the year: Cash donation from operational companies of the Monsoon and Accessorize brands Public donations Supplier donations Total donations |
2025 £ 123,712 503 1,992 126,207 |
2024 £ 213,084 338 28,871 |
|---|---|---|
| 242,293 |
Voluntary income, in respect of continuing operations, includes sums donated through the generosity of customers and suppliers of operational companies of the Monsoon and Accessorize brands.
Donated services and facilities
Many of the Charity's fundraising activities have been organised by employees of operational companies of the Monsoon and Accessorize Brands. There were no employees who received total employee benefits of more than £60,000.
A donation from the operational companies of the Monsoon and Accessorize Brands amounting to £3,250 (2024: £3,250) has been recognised in respect of the administrative and managerial services performed by employees of those companies.
Part of the company's office space and some of its support services, such as financial control and management are made available to The Monsoon Accessorize Trust and an estimate of the value of these services and facilities amounting to £781 (2024: £762) has been recognised as a donation on behalf of the operational companies of the Monsoon and Accessorize Brands.
3. Activities generating funds
| Unrestricted funds 2025 £ Charity events, samples sales and other fundraising 80,897 Unrestricted funds 2024 £ Charity events, samples sales and other fundraising 88,097 |
Total funds 2025 £ 80,897 |
|---|---|
| Total funds 2024 £ 88,097 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
4. Expenditure
Expenditure on fundraising
Fundraising costs include £20 (2024: £20) for subscription fees.
Expenditure on charitable activities
The following grants were made during the year as part of the Charity's objective to relieve poverty through education, healthcare and income-generation projects for disadvantaged women and children.
| Water Wisdom Turquoise Mountain Shalom Global Foundation (Aashiana) Prakratik Society WEST Youth Zone Breast Cancer Ad Hoc Donations Total grants* Support costs Governance Costs |
Cash outflow 2025 £ 24,254 100,000 30,000 17,634 53,132 17,220 44,357 286,597 - - 286,597 |
Expenditure unrestricted funds 2025 £ 49,749 33,472 30,000 9,156 100,000 - 9,357 231,734 4,030 4,228 239,992 |
Expenditure restricted funds 2025 £ 31,528 - - - 28,132 17,220 - 76,880 - - 76,880 |
Total funds 2025 £ 49,749 65,000 30,000 9,156 128,132 17,220 9,357 308,614 4,030 ,4,228 316,872 |
|---|---|---|---|---|
| 286,597 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
| Water Harvest Turquoise Mountain Shalom Global Foundation (Aashiana) Digantar Shiksha Evam Prakratik Society Breast Cancer Jeevika Trust *Ad Hoc Donations Support costs Governance costs |
Cash outflow 2024 £ 71,799 75,000 16,540 10,674 40,000 22,516 4,000 21,864 262,393 - - |
Expenditure unrestricted funds 2024 £ - 145,000 - - 30,075 - 4,000 21,864 200,939 4,012 4,964 209,915 |
Expenditure restricted funds 2024 £ 20,631 - - - 22,516 - - 43,147 - - 43,147 |
Total funds 2024 £ 20,631 145,000 - - 30,075 22,516 4,000 21,864 244,086 4,012 4,964 253,062 |
|---|---|---|---|---|
Expenditure in the year includes movements in commitments of funds to current and future projects. Cash outflow represents actual funds released during the year.
Support Costs
Support costs comprise £780 (2024: £762) relating to facilities support provided by operational companies of the Monsoon and Accessorize Brands; £3,250 (2024: £3,250) relating to administration and managerial services performed by employees of operational companies of the Monsoon and Accessorize Brands (see note 2).
Governance Costs
Governance costs comprise independent examiners fees of £4,260 (2024: £4,098), bank fees £194 (2024: £68) and exchange rate differences of £226 gain (2024: £798 loss).
5. Employees
There were no staff employed during the year or during the previous year.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
6. Investment income
| Unrestricted funds 2025 £ Bank interest receivable 27,286 Unrestricted funds 2024 £ Bank interest receivable 13,893 |
Total funds 2025 £ 27,286 |
|---|---|
| Total funds 2024 £ 13,893 |
7. Net income/expenditure
This is stated after charging:
| Independent examiner's remuneration | 2025 £ 4,260 4,260 |
2024 £ 4,098 |
|---|---|---|
| 4,098 |
During the year, no Trustees received any remuneration, benefits in kind or reimbursement of expenses (2024: £Nil).
8. Independent examiner's remuneration
The independent examiner's remuneration comprises an independent examiner fee of £4,260 ( 2024 - £4,098 ).
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THE MONSOON ACCESSORIZE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
9. Debtors
| Due within one year Other debtors |
2025 £ 684,318 684,318 |
2024 £ 656,584 |
|---|---|---|
| 656,584 |
10. Creditors: Amounts falling due within one year
| Accruals and deferred income Grant commitments |
2025 £ 4,260 85,494 89,754 |
2024 £ 4,098 78,704 |
|---|---|---|
| 82,802 |
11. Creditors: Amounts falling due after more than one year
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Grant commitments | 50,000 | 35,000 |
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Docusign Envelope ID: 8712C293-D87D-452C-A2E6-6300C1149C7D
THE MONSOON ACCESSORIZE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
12. Movements in grant commitments
| Opening balance at 1 September 2024 Additional commitments made during the year Movement from non-current to current Amounts paid during the year Other adjustments to commitments Closing balance at 31 August 2025 |
Current liabilities £ 78,704 108,904 35,000 (102,114) (35,000) 85,494 |
Non-current liabilities £ 35,000 50,000 (35,000) - - 50,000 |
Total funds £ 113,704 158,904 - (102,114) (35,000) |
|---|---|---|---|
| 135,494 |
As described in note 4, the Charity awards a number of grants in a given year. Many grants are awarded and paid out in the same financial year. However, certain multi-year grants exist which are paid over a longer period. These are recognised as grant commitments where there is a legal or constructive obligation at the balance sheet date.
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Docusign Envelope ID: 8712C293-D87D-452C-A2E6-6300C1149C7D
THE MONSOON ACCESSORIZE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
13. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Restricted funds Turquoise Mountain Future Dreams WEST Youth Zone Total restricted funds Statement of funds - prior year Unrestricted funds General Funds - all funds Restricted funds Turquoise Mountain Future Dreams Total restricted funds |
Balance at 1 September 2024 £ 657,951 Balance at 1 September 2024 £ - - - - Balance at 1 September 2023 £ 562,738 Balance at 1 September 2023 £ - - - |
Income £ 161,541 Income £ 31,528 17,220 28,132 76,880 Income £ 305,148 Income £ 20,631 22,516 43,147 |
Expenditure £ (240,012) Expenditure £ (31,528) (17,220) (28,132) (76,880) Expenditure £ (209,935) Expenditure £ (20,631) (22,516) (43,147) |
Balance at 31 August 2025 £ 579,480 |
|---|---|---|---|---|
| Balance at 31 August 2025 £ - - - |
||||
| - | ||||
| Balance at 31 August 2024 £ 657,951 |
||||
| Balance at 31 August 2024 £ - - |
||||
| - |
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Docusign Envelope ID: 8712C293-D87D-452C-A2E6-6300C1149C7D
THE MONSOON ACCESSORIZE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
14. Summary of funds
Summary of funds - current year
| General funds Restricted funds Summary of funds - prior year General funds Restricted funds |
Balance at 1 September 2024 £ 657,951 - 657,951 Balance at 1 September 2023 £ 562,738 - 562,738 |
Income £ 161,541 76,880 238,421 Income £ 305,148 43,147 348,295 |
Expenditure £ (240,012) (76,880) (316,892) Expenditure £ (209,935) (43,147) (253,082) |
Balance at 31 August 2025 £ 579,480 - |
|---|---|---|---|---|
| 579,480 | ||||
| Balance at 31 August 2024 £ 657,951 - |
||||
| 657,951 |
15. Related party transactions
During the period, donations of £123,712 (2024: £213,084) were received from the operational companies of the Monsoon and Accessorize Brands Group including, Accessorize Stores Ltd, Accessorize Brands Ltd, Monsoon Stores Ltd, and Monsoon Brands Ltd. The debtor balance outstanding at period end is £4,169 (2024: £3,707). A Trustee of the Trust is also a non-executive director of each of these entities.
During the prior year, the Trust loaned £643,018 to Adena Services Limited, a non-executive director of which is also a Trustee of the Trust. The net interest rate on the loan is variable per the interest on the Borrower's business deposit account, less 0.25% Borrower's fee on the loan principal. During the year, the Trust earned net interest of £27,272 (2024: £9,859), which comprises gross interest of £28,880 (2024: £10,410) less Borrower's fee of £1,608 (2024: £551). At the year end, the total amount due to the Trust was £680,149 (2024: £652,877).
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