## **The Manali Charitable Trust**
**Trustees’ Report and Financial Statement**
**Year ended 30[th] June 2022**
## **The Manali Charitable Trust Table of contents**
||Page|
|---|---|
|Reference and administrative details|1|
|Report of the trustees|2|
|Independent examiner’s report to the Trustees|4|
|Statement of financial activities|5|
|Balance sheets|6|
|Cash flows|7|
|Notes to the financial statements|8-9|
## **The Manali Charitable Trust Reference and administrative details**
Name The Manali Charitable Trust Number 1062838 Address Willowside, Elmstead Road, West Byfleet, Surrey KT14 6JB Trustees Shelagh M Allen, Thomas W Allen, David P Allen, Patricia M Allen Bankers Coutts & Co, 440 Strand, London WC2R 0QS Solicitors Charles Russell Speechlys, 5 Fleet Place, London EC4M 7RD Independent Examiner Cara Turtington FCA DChA, Saffery Champness LLP, 71 Queen Victoria Street, London, EC4V 4BE
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## **The Manali Charitable Trust**
## **Report of the trustees for the year ended 30 June 2022**
The trustees of The Manali Charitable Trust (‘the Charity’) present their Report and Financial Statements for the year ended 30 June 2022.
## **Objectives and Activities**
The objects of the Charity are to apply or lend the income and (if and when the trustees think fit) the whole or any part of the capital of the Charity to or for such charitable institutions or other charitable objects in any part of the world as the trustees shall think fit to support or establish.
## **Public benefit**
The trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity. The trustees consider that they provide a public benefit by making grants to charities that themselves provide a public benefit.
## **Achievements and Performance**
The Charity made grants during the year to ten charities, a set out in the Financial Statements (Note 4).
## **Financial Review**
During the year, the Charity received donations and Gift Aid tax recovered totalling £251,195 and made grants totalling £82,500. At the year-end there were assets of £175,434, all comprising cash at bank.
## **Reserves policy**
The trustees intend to build up the reserves so that, in the fullness of time, income from the invested funds can be the prime source from which grants can be made. The Trustees do not see the need to carry significant free reserves at the current time.
## **Plans for future periods**
It is the policy to build up reserves in order to be able to respond to requests for grants and to provide income for further grants. The Charity will continue to make grants, primarily to charities operating in the fields of care for the disabled and elderly, and medical research.
## **Structure, Governance and Management**
The Charity was established by a Declaration of Trust dated 22 May 1997, amended by a Resolution of the trustees dated 22 May 2021. The trustees have the power to appoint new or additional trustees.
The Charity is administered by one of the trustees (TW Allen). All decisions are made unanimously by the trustees. The trustees are empowered to invest the funds of the Charity as they think fit.
The trustees have reviewed the major risks to which the Charity is exposed, and systems have been established to mitigate those risks.
## **Statement of trustees’ responsibilities**
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 state of affairs of the charity
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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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that 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, applicable accounting regulations 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.
**Approved by the Trustees** , 10 October 2022
(signed) Shelagh M Allen
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## **The Manali Charitable Trust**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES**
I report to the trustees on my examination of the accounts of The Manali Charitable Trust (the Trust) for the year ended 30 June 2022.
## **Respective Responsibilities of trustees and examiner**
As the charity 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 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
Cara Turtington FCA DChA Saffery Champness LLP, Chartered Accountants 71 Queen Victoria Street, London, EC4V 4BE
Date: 10 October 2022
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## **The Manali Charitable Trust Statement of financial activities for year ended 30th June 2022**
|**Notes**
**2022**
**£**
Income from donations
2
251,195
Expenditure on charitable activities
3 and 4
84,000
Net income/ (-) expenditure
and net increase/ (-) decrease in funds
167,195
Total funds brought forward
7
6,739
Total funds carried forward
7
173,934|**2021**
**£**
25,000
30,000|
|---|---|
||-5,000
11,739|
||6,739|
All activities are continuing at the year end.
The accompanying notes form part of these financial statements.
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## **The Manali Charitable Trust Balance sheets at 30th June 2022**
|**Notes**
Current and total assets - cash at bank
Less: Creditors, falling due within one year
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Funds (all unrestricted)
1/7|**2022**
**£**
175,434
(1,500)
173,934|**2021**
**£**
6,739
-|
|---|---|---|
|||6,739|
These financial statements were approved by the Trustees on
(signed) [ Shelagh M Allen] 10 October 2022
The accompanying notes form part of these financial statements
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## **The Manali Charitable Trust Cash flows for year ended 30 June 2022**
|**Cash flow**
Cash flows from operating activities
Change in cash in the reporting period
Cash at the beginning of the reporting period
Cash at the end of the reporting period
**Net cash flow from operating activities**
Net income (as per the Statement of
Financial Activities)
Increase in creditors
Net cash provided by operating activities|**2022**
**£**
168,695
168,695
6,739
175,434
167,195
1,500
168,695|**2021**
**£**
-5,000|
|---|---|---|
|||-5,000
11,739|
|||6,739|
|||-5,000
-|
|||-5,000|
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## **The Manali Charitable Trust Notes to the financial statements for year ended 30th June 2022**
## 1 **Accounting policies**
## 1.1 **Basis of accounting**
The financial statements have been prepared in accordance with the Charities Act 2011 Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2019).
The Charity meets the definition of a public benefit entity under FRS 102.
## 1.2 **Going concern**
The financial statements have been prepared on a going concern basis as the reserves exceed any likely required expenditure and grants are paid only from available income and/or reserves.
## 1.3 **Income from donations**
Donations or gifts together with the associated income tax recoverable where appropriate are recognised as income when the amounts are receivable.
## 1.4 **Expenditure on charitable activities**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.
## 1.5 **Grants**
Grants payable are payments made to third parties in the furtherance of the charitable objects of the Charity.
## 1.6 **Governance costs**
Governance costs are included as part of charitable activities.
## 2 **Donations**
|Amounts received from donor
Gift Aid tax recovered
Transfer from donor's CAF account|**2022**
**£**
200,000
50,000
1,195
251,195|**2021**
**£**
20,000
5,000
-|
|---|---|---|
|||25,000|
All amounts donated are received from the settlor without restriction.
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## 3 **Charitable activities**
|Grants (see note 4)
Governance costs
-
Independent Examiner's fee|**2022**
**£**
82,500
1,500
84,000|**2021**
**£**
30,000
--|
|---|---|---|
|||30,000|
The charity has no employees and all administration services are provided pro bono by the Trustees.
## 4 **Grants**
|**Grants**|||||
|---|---|---|---|---|
||**Number**|**2022**|**Number**|**2021**|
|||**£**||**£**|
|Disability services|5|35,000|4|30,000|
|Medical research|3|30,000||-|
|Hospice|1|5,000||-|
|Overseas (elderly and disabled)|1|12,500||-|
|||82,500||30,000|
All grants are made to institutions.
|5|**Creditors**|||
|---|---|---|---|
|||**2022**|**2021**|
|||**£**|**£**|
||Independent Examiner's fee|1,500|-|
## 6 **Taxation**
The Charity is not subject to any taxes on funds applied on its wholly charitable activities.
## 7 **Status of funds**
All funds are held on an unrestricted basis.
## 8 **Related parties**
There are no transactions with related parties other than the donations referred to in note 2.
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