CHARITY REGISTRATION NUMBER.. 1059070 The M and M Charitable Foundation Unaudited Financial Statements 5 April 2023 DOWNHAM MAYER CLARKE LIMITED Chartered accountants 41 Greek Street Stockport Cheshiie SK3 8AX The M and M Charitsble Foundation Financial Statements Year ended 5 April 2023 Page Trustees, annual report Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The M and M Charitable Foundation Trustees, Annual Report Year ended S April 2023 The trustees present their feport arKI the unaudited finarTrcial statements of the charity for the year ended 5 April 2023. Reference and administrative details Registered charity name The M and M Charitable Foundation Charity registration number 1059070 Principal office CIO Benmar Textiles Limited Cheetwood Road Off Broughlon Street Manchestei M8 8AQ The trustees Mr M.P. Seiuer Mrs J.S. Seiller Independent examiner Andrew Bland FCA Structure. governance and management Governing document The charity is regisleied wlh the Charity Commission in England and Wales under number 1059070 and is consliluled under a Trust deed dated 16 October 1996. Organisational structure The management of the charity is the responsibilty of the ttuslees who are elected and co-opted under the terms of the Trust deed. All Iruslees give of their lime freely and are unpaid The Iruslees are empowered to pay any part of Ihe capital and income for the benefit ol such charitable purposes or inslilulions within or outside of the United Kingdom in such manner and in such proportion as the Iruslees in Iheii discrelion determine. Related parties Benmar Textiles Limited is consKlered lo be a related party as the trustees of the charity are also a directors of that cotnpany. The company has supported the funds for the charity by making donations during the year. The M and M Charitable Foundation Trustees. Annual Report (conltnuedj Year ended 5 April 2023 Objectives and activities Objectives and aims The objective of the charity is lo support other charitable bodies an(F associations. This is achieved by making donations and grants to other charitable bodies and associations al the Iruslees, discretion. The grant making FX)licy is such that the charity re￿iVeS requests for funding from a wide range of organisalions and these are evaluated individuauy by the Iruslees. In making their assessment of requests the Irusles have regard lo how best the re￿Iving charity will employ the funds in providing supp)rt to their beneficiaries. No preference is made lo institutions involved in any particular charitable activity. Public benefit In selling the objectives the trustees have referred lo the guidance in the Charity Commission's general guicjance and given Careful consideration lo the Charity Commission's public benefit guidance. Achievements and performance Charitable activities There have been no changes in the objectives of the charity since the last annual report. The charity has met these aims by making donations and grants to a numbef ol Inskn"lulK)ns. During the year the charity made donations and grants lolalling £52,660 12022 £37,500} 10 12 eharilable bodies and associations. Financial review Financial position The closing fund represents the unreslricled funds arising froffl donations received and also the free reserves of the charity. The balance al the year end of £2,984 12022 £1,016) is in line with the trustees, expectations and the reserves policy of the charity. Reserves policy 11 is the Policy of the charity lo maintain a low level of reseNes. rnak￿g (k)nations lo inslilulions as and when funds are available lo it. Risk Management The Iruslees have assessed the major risks lo which the charity is exposed and are satisfied that they have taken all necessary steps lo mitigate those risks. Future plans Thè Iru51ees intend to continue making grants available lo other charitable bodies and associations as funds become available_ The M and.M Charitable Foundation Trustees. Annual Report (¢onrfntse4 Year ended S April 2023 The tru$lEps' annual report wa5 approved on . Iruslees by.. . 8nd sgned on behalf of the boafd of Mr M.P. SeitlÈr rrustee The M and M Charitable Foundation Independent Examiner's Report to the Trustees of The M and M Charitable Foundation Year ended 5 April 2023 report lo the trustees on my examination of the financial statements of The M and M Charitable Foundation I'the charilll for the year erided 5 April 2023_ Responsibilities and basis of report As the Iruslees of the charity you are responsible foi the preparatson of the financial statements in accordance with the requirements of the Charities Act 2011 {'Ihe Acl'l. I report in respect of my examination of the chartty's financial statements carried out under section 145 ol the 2011 Act and In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515)Ib) of the Act. Independent examiner's staternent I have compleled my examination. I confirm that no material matters have come lo my allenlion in connection with the examination giving me cause lo believe that in any material respect." accounting records were not kept in respect of the charity as required by sectDn 130 of the Act". or the financial statements do not accord with those records", or the financial slalemenls do not comply with the applicable requirements concerning the form and conlenl of accounts set out in the Charilies (Accounts and Reportsl Regulations 2008 other than any requirement that the accounts give a 'true and fair. view which is not a maller consideied as part of an independenl examinalion. I have no COn￿rnS and have come across no other matters in connection with Ihe examination lo which attention should be drawn in Ihis report in order lo enab￿ a proper understanding of the accounts to be reached. Andrew Bland FCA Independent Examiner Downham Mayer Clarke & Co 41 Greek Street Stockport Cheshire SK3 8AX 16 December 2024 The M and M Charitable Foundation ststement of Financial Activities Year ended 5 April 2023 2023 Unrestricted fur]ds Total funds Total funds 2022 Note Income and endowments Donations and legacies Total income 55.000 55,000 35,000 55,(K)O 55,000 35,000 Expenditure Expenditure on charitable activities Total expenditure 53.032 53.032 37,515 53,032 53,032 37,515 Net Ineomellexpenditurel and net movement in funds 1.968 12,515) Reconciliation of funds Total funds broughl forward Total funds carried forward 1.016 1.016 3,531 2.984 2.984 1,016 The slalemenl of financial aotivilies includes all gains and losses recognised in the year. All income and expenditure delive from continuing activities. The notes on pages 7 to 9 form part of these financial statements. The M and M Charitable Foundation Statement of Financlal Position S April 2023 2023 2022 urrent assets Cash at bank and hand M4te 1,016 Creditots.. amounts falling due wlthin one year Net curTent assets Total assets less currenl liabiltties Net assÈt5 2,984 2,984 2,984 1,016 1.018 1,016 ;r1Fj.:"￿, Funds of the charity UnrÈstrieted funds Total charity funds 1984 2.984 1.016 1.Q16 e Inanclal statements were approved by the board of tru51ees ond aut￿15￿4 ILY iS$U8 en Th Mr M.P. Se1t￿r Trustee The noles on page$ 7 to 9 form part 01thfr59 financia15tsterneht& -.trfT I fi1¥1Zilp The M and M Charitable Foundation Notes to the Financial Ststements Year ended 5 April 2023 General information The charity is a public benefit entity and a re9lStered charity in England and Wales and is unincorporated. The addiess of the principal office is CIO Benmar lexliles Limited, Cheethod Road. Off Broughlon Street. Manchester, M8 8AQ. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the RepuL4ic of Ireland,, the Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharilies SORP IFRS 10211 and the Charities Act 2011. Aecounling policies Basis of preparation The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilit￿5 and inve51menl properties measured al fair value through income or expenditure. The financial slalemenls are prepared in sterling, which is the functional CU[￿ncY of the entity. Going concern There are no maleiial uncertainties about the charity's ability to continue. Disclosure exemptions The financial statements do not include a cash flow slalement bècause the charity as a small reporting entity is exempl from the requirement to prepare such a statement. Judgements and key sources of estimation uncertainty The preparation of the financial slalements requires management lo make judgements, eslimales and assumptions that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors. including expectations of lulure events that are believed lo be reasonable under the cirojmstances. Fund accounting Unrestricted funds are available for use al the discretion of the Iruslees lo further any of the charity's purposes. Designated funds are unrestricted funds eaimarked by the trustees for particular fvlure project or commitment. Reslricled funds are subjected lo reslriclions on their expenditure declared by the donor or through the terms of an appeal. and fall Into one of two sub-dasses." reslricled income funds or Èndowment funds. The M and M Charitable Foundation Notes to the Financial Statements (eolllinuedj Year ended 5 April 2023 Aecounting policies (continued) Incoming resources All income is included in the slalemenl of financial aclrvilies when il is received. Resources expended Expenditure is recognised on a payment basis and is classifi'ed under headings of the statement of financial activities lo which il relates". Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of ils beneficiaries. including those support costs and costs relating lo the governance ol the charity apportioned lo chantable activities. Other expenditure includes 811 expenditure Ihal is lleither related to raising funds for the charity nor part of ils expenditure on charitable aclivilies. Donations and legacies Unreslricled Total Funds Unreslricled Total Funds Funds 2023 Funds 2022 Donations Donations received 55.0(Kl 55,000 35,OC() 35.000 Expenditure on charitable activities by fund type Unrestricted Total Funds Unreslricled Total Funds Funds 2023 Funds 2022 Grants making Support costs 52,660 372 52,660 372 37.500 15 37,500 15 53.032 53,032 37,515 37,515 Expenditure on charitable activities by activity type Aclivilies underlaken directly Support costs Total funds 2023 Total fund 2022 Grants making Governance costs 52,660 52,660 372 37.500 15 372 52,660 372 53,032 37,515 Staff costs The average head count of employees dullng the year was Nil12022.' Nil)- The M and M Charitable Foundation Notes to the Financial Statements (conliRuedJ Year ended 5 April 2023 Staff costs rcontinuedl No employee received employee benefits of more than £60.0(10 during the year12022. Nil}. Trustee remuneration and expenses No trustees. remuneration or other benefits were paid during the year {2022.' Nil) No trustees. expenses have been incurred12022_' Nil). Creditors: amounts falling due within one year 2023 2022 Accruals and deferred income 360 10. Analysis of charitable funds Unrestricted funds At 6 April 2022 At Income Expenditure 5 April 2023 General funds 1.016 55.OCKJ 153,0321 2.984 At 6 April 2021 Al Income Ex￿ndIt￿re 5 April 2022 General funds 3,531 35.OCK) {37.5151 1,016 11. Analysis of net assets between funds Unreslricled Total Funds Funds 2023 Current assets 3.344 3,344 Unrestricted Total Funds Funds 2022 Current assets 1,016 1,016 12. Related parties Benmar Textiles Limited is considered lo be a related party as the Iiuslees ol the charity are also directors of the company. During the year the foundation re￿Ived donations of £55.00012022 £35,000) from Benmar Textiles Limited.