Company registration number 03439299 (England and Wales) Charity registration number 1065006 (England and Wales) THE MICHAEL ROBERTS CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE MICHAEL ROBERTS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Chief Executive Officer Country of incorporation Charity registration Registered office Independent examiner J. Ehlers T.A. Knott G. Pattimore A. Khan Rev. J.G. Poyntz J.D. Briant A. Thornton United Kingdom (England and Wales) England and Wales Unit 8, Housham Hall Farm Matching Tye, Harlow Essex CM17 0PB HB Accountants 28 Plumpton House Plumpton Road Hoddesdon Hertfordshire ENI1 OLB (Appointed 5 November 2024) 03439299 1065006
THE MICHAEL ROBERTS CHARITABLE TRUST CONTENTS Trustees' report Page 1-5 Independent examiner's report Statement of financial activities 7-8 Balance sheet 9 Notes to the financial statements 10 - 19
THE MICHAEL ROBERTS CHARITABLE TRUST TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. he financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financia tatements and comply with the Trust's governing document, the Companies Act 2006, FRS 102 "The Financial Reportin Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The principal activity of the charity during the year was the provision of support services to individuals and families experiencing hardship across Harlow. This included emergency food provision, affordable food access, essential household and children's items, advice and guidance services, and community-based support The charity continued to operate as a Christian organisation working inclusively with people experiencing poverty, vulnerability, isolation, homelessness, learning or physical disability, and crisis. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should Achievements and performance Significant activities and achievements against objectives During the year, the charity underwent a significant period of operational transition relating to its premises. Services initially operated from a temporary town centre unit, returned briefly to church-based premises, and subsequently relocated to a larger more permanent unit within Harlow's main shopping centre. This move enabled the charity to consolidate all poverty-related services into a single, accessible location and contributed to increased service usage across the year. On average, approximately 250 individuals per day accessed support through the charity's services. The principal projects delivered during the year were: • Harlow Foodbank • The Bounty Club (community supermarket) • Bump to Five (baby-items bank plus pre-loved school uniform shop) • Maybury Open Door (supportive drop-in centre for adults) • Trussell Trust-funded projects: financial caseworker and Harlow Hive The relocation supported a significant increase in activity within the Bounty Club, which accounts for a substantial proportion of the increase in total income shown in the Statement of Financial Activities. Membership exceeded 2,500 individuals, with regular users achieving estimated monthly household savings of £50- £60. The charity also continued to host advice and guidance partners within its premises, including Citizens Advice Harlow; Community Hub, and Integration Services. In addition, the charity delivered its own Harlow Hive project, supporting individuals with lived experience of poverty to engage with services and address issues affecting them. - 1-
THE MICHAEL ROBERTS CHARITABLE TRUST TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Premises and Partnerships MRCT's registered office is just outside the town on a farm that stores and sorts the Foodbank's food: "The Store House". Costs for this have been supported by Harlow Council's Partnership Fund and the Mulberry Trust. urther support was received from Essex County Council towards the development of the Bounty Club communit upermarket, including funding for an outreach vehicle, which is recorded within the charity's fixed assets and depreciatio policy. Community Engagement and Volunteering Community involvement remains central to the charity's work. We have around 100 regular volunteers including volunteers with learning difficulties or physical disabilities. A significant proportion of volunteers supporting the Bounty Club were recruited from within the membership, contributing lived experience and supporting cost-effective delivery of that project The charity also undertook consultation and engagement activity through focus groups and through the Harlow Hive project, which informed service development and partnership working across the organisation. Service Activity Summary • Harlow Foodbank supported households experiencing crisis, distributing over 4,200 food parcels of food items and other essential items donated by the general public. In this reporting period 84,751Kg of food was donated to the Foodbank, and 78,422 given out. • The Bounty Club expanded significantly, contributing to increased turnover, purchasing £164,066 of stock and holding closing stock valued at £34,318. • Bump to Five distributed over 1,000 parcels of items donated by the general public, supporting approximately 1,500 children, with donated items valued at approximately £110,000. Maybury Open Door continued to provide regular social and developmental activities for adults. with consiste eekly attendance of around 150 per week. Regular users and volunteers include persons with mental health issu sensory deficits, physical disability and Senior Citizens as well as persons with learning difficulties. • Trussell Trust-funded projects supported community engagement and poverty-related work, with activity reported within restricted funds and further amplified here, as follows: Trussell Trust Projects - 2024/25 MRCT founded its food bank 16 years ago, operating as an independent self-governing service in affiliation with the Trussell Trust. During 2024/25 the Trussell Trust funded two supporting roles. These operated from the Community Support Centre, extending our support beyond emergency food provision to address the underlying causes of poverty. Financial Caseworker Support Funding enabled the placement of a Citizens Advice Harlow financial caseworker, providing residents with independent FCA- accredited debt advice. This support helps people stabilise their finances and improve budgeting, and is increasingly enabling foodbank users to reduce repeat reliance on emergency food support as underlying debt and income issues are addressed. During the year: • 226 individuals accessed the service • 70 people received support to consolidate and manage f212,106 of debt • £44.933 of debt was written off • 82 individuals achieved increased income through previously unclaimed benefits, averaging €5,340 per person (total £437,914) • An estimated 109 individuals no longer required Foodbank support following intervention - 2-
THE MICHAEL ROBERTS CHARITABLE TRUST TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Campaigns and Organising (Harlow Hive) engagement with decision-makers. During 2024/25, activity focused on building community power and stakeholder engagement, resulting in: • A user-led council housing repairs campaign, generating over 50 resident responses and contributing to changes in council practice • Strengthened collaboration with local organisations through the "Communitree" information initiative, improving awareness of support services across Harlow • Successful advocacy outcomes, including: • Retention of housing for evicted Redstone House residents • Improvements to local council housing repair processes • Adjustments to local bus routes to better connect residents to employment opportunities • Expansion of a school uniform affordability campaign across multiple local schools Financial review Total income for the year was £753,708 (2024: f416,538). The increase reflects growth in charitable trading activity, particularly within the Bounty Club. Total expenditure for the year was £742,463 (2024: £531,640). The net movement in funds resulted in a deficit of £11,245, which reflects planned investment in service expansion, increased staffing, stock holding, and premises-related costs. Reserves policy The charity's reserves position remains under regular review by the Trustees, with unrestricted funds of £120,476 held at the year end. Our reserves policy aims at retaining operational cost for 6 months which we are just short of. Restricted funds are maintained in accordance with funder requirements leaving the Foodbank well-funded on a restricted basis in unforeseen Plans for future periods The Trustees will continue to focus on: • Consolidating the town centre hub • Managing costs responsibly while maintaining service levels • Developing outreach capacity • Strengthening partnership working • Ensuring financial sustainability in a challenging economic environment Structure, governance and management The Trust is a company limited by guarantee and is governed by the Memorandum and Articles of Association. - 3-
THE MICHAEL ROBERTS CHARITABLE TRUST TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 G. Pattimore M. Parsons A. Khan Rev. J.G. Poyntz. J.D. Briant (Resigned 3 July 2024) (Appointed 5 November 2024) Recruitment and appointment of trustees The Trustees have adopted a formal process for the nomination, selection and appointment of new Trustees to ensure appropriate governance, transparency and compliance with Charity Commission requirements, while maintaining the Trust's founding ethos. In accordance with the charitable objects and faith-based ethos of MRCT, Trustees must be practising Christians. The proposer of any nominee is responsible for confirming, to the best of their knowledge, that this requirement is met. All Trustees must also meet the eligibility requirements set out by the Charity Commission and confirm that they are not disqualified from acting as a charity trustee. Potential candidates may be proposed by existing or former Trustees, members of staff, volunteers, or by invitation to partner organisations. The Board may also choose to advertise Trustee vacancies where appropriate. Once a vacancy has been identified, the Chair coordinates the recruitment process on behalf of the Board. Initial approaches to prospective candidates are conducted informally and on an exploratory basis. With the individual's consent, a formal nomination is submitted to the Board. The Board considers nominations either at a duly convened meeting or via formal email circulation. A unanimous decision of the Trustees is required to proceed with inviting a nominee to confirm their interest. The Chair writes formally to the nominee outlining the selection process; the ethos and work of MRCT; the statutory duties and responsibilities of charity trustees; confirmation that appointment is subject to Board approval. Nominees are required to respond within two weeks, providing a CV and a written statement outlining their motivation and the skills and experience they would bring to the Board. All applications are circulated to Trustees in advance of the next Board meeting for consideration. Appointment requires unanimous agreement of the Board. Where there are more suitable candidates than vacancies, the Board may conduct informal interviews prior to making a final decision. Successful candidates are informed in writing and assume office from the date confirmed by the Board. All appointments are recorded in the minutes. The Company Secretary (or the Chair, where applicable) ensures that the appointment is registered with the Charity Commission within one month. Trustees are expected to engage actively in Board meetings and governance matters. Where a Trustee has not attended meetings or engaged in Board business for six months, the Chair will seek clarification, and the Board will determine appropriate action. Trustees may resign by providing a minimum of 30 days' notice (verbal or written), except in circumstances of serious illness, family crisis, death or criminal conviction. All resignations are formally recorded in Board minutes. - 4-
THE MICHAEL ROBERTS CHARITABLE TRUST TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Organisational structure Tour hority is seats don idea ail race, awared yo a lew per once, ties, and there prices me formally at ie Board appoints the Chief Executive Officer, who during the year had responsibility for the management of a staff team proximately 20. The CEO is accountable to the Trustees for operational delivery, financial performance, and strates implementation. The Honorary Treasurer provides monthly financial reporting to the Board. In addition, Trustees receive regular operational reports from all projects throughout the year, enabling ongoing oversight of activity, performance, and risk. Day-to-day service delivery is managed through project structures led by full-time project managers, who are responsible for staff supervision and volunteer management within their respective teams. The Operations Manager oversees organisational policies and compliance, including human resources, health and safety, local authority licensing, and food safety standards, ensuring that services are delivered in line with regulatory and good-practice requirements. The trustees' report was approved by the Board of Trustees. Ashler Ehler Trustee Date: 12: 3:26 - 5-
THE MICHAEL ROBERTS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MICHAEL ROBERTS CHARITABLE TRUST I report to the trustees on my examination of the financial statements of The Michael Roberts Charitable Trust (the Trust) for the year ended 31 March 2025. Responsibilities and basis of report As the trusts or the is and also is liters for the sose Companies a 2), you are responsible for the preparation of Having satisfied myself that the financial statements of the Trust are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Trust's financial statement: carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given b he Charity Commission under section 145(5)(b) of the Charities Act 2011 Independent examiner's statement Since the Trust's gross income exceeded f250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of I.C.A.E.W., which is one of the listed bodies. 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: accounting records were not kept in respect of the Trust as required by section 386 of the Companies Act 2006. the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or the financial statements 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 financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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 financial statements to be reached. HB Acountante HB Accountants 28 Plumpton House Plumpton Road Hoddesdon Hertfordshire EN: 12/3/26 late: .... - 6-
THE MICHAEL ROBERTS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Current financial year Notes Unrestricted funds 2025 Income from: Donations and legacies Charitable activities Investments 129,869 242,784 4,398 Total income 377,051 Expenditure on: Raising funds Charitable activities 4,720 202,068 Total expenditure 206,788 Net income/(expenditure) 170,263 Transfers between funds Net movement in funds (121,400) 48,863 Reconciliation of funds: Fund balances at 1 April 2024 Fund balances at 31 March 2025 59,079 107,942 Designated funds 2025 : - : - 26,554 26,554 Restricted funds 2025 € 289,970 86,687 - 376,657 535,675 535,675 (159,018) 121,400 (37,618) 37,618 Total 2025 Total (As restated) 2024 419,839 329,471 4,398 381,309 109,255 1,657 753,708 492,221 4,720 737,743 742,463 11,245 531,640 531,640 (39,419) 11,245 (39,419) 123,251 134,496 162,670 123,251 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 7-
THE MICHAEL ROBERTS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Prior financial year (As restated) Notes Income from: Donations and legacies Charitable activities Investments Total income Expenditure on: Charitable activities Total expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Fund balances at 1 April 2023 Fund balances at 31 March 2024 5 7 Unrestricted Unrestricted funds funds general Redundancy fund 2024 € 68,419 33,788 1,657 103,864 79,525 79,525 24,339 (54,540) (30,201) 89,280 59,079 26,554 26,554 - 8- Restricted funds 2024 312,890 75,467 - 388,357 452,115 452,115 (63,758) 54,540 (9,218) 46,836 37,618 Total 2024 f 381,309 109,255 1,657 492,221 531,640 531,640 (39,419) - (39,419) 162,670 123,251
THE MICHAEL ROBERTS CHARITABLE TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 as restated Fixed assets Tangible assets Current assets Stocks Debtors Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Total assets less current liabilities The funds of the Trust Restricted income funds Unrestricted funds - general Unrestricted funds - Redundancy fund Notes 13 7,470 7,971 16 34,318 11,524 207,099 252,941 (125,915) 14,198 6,321 255,364 275,883 (160,603) 127,026 134,496 115,280 123,251 20 19 107,912 26,554 134,496 37,618 59,079 26,554 123,251 The year ended March to the exemption from the audit requirement contained in section 477 of the Companies Al 2006, for le directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with resp accounting records and the preparation of financial statemen The members have not required the company to obtain an audit of'its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 10•3: 26 Fhle Trustee Trustee - 9-
THE MICHAEL ROBERTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1.1 1.2 1.4 Accounting policies Charity information The Michael Roberts Charitable Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 8, Housham Hall Farm, Matching Tye, Harlow, Essex, CM17 OPB. Basis of preparation The financial statements have been prepared in accordance with the Trust's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The Trust is a Public Benefit Entity as defined by FRS 102. The Trust has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows. The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest f. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. Going concern t the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequat sources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the goin concern basis of accounting in preparing the financial statements. Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. estricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes an ses of the restricted funds are set out in the notes to the financial statement Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Trust. Income Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 10 -
THE MICHAEL ROBERTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1.5 Accounting policies (continued) 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. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings Motor vehicles 25% reducing balance 25% reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. Impairment of fixed assets it each reporting end date, the Trust reviews the carrying amounts of its tangible assets to determine whether there is ar ndication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of tt asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. - 11 -
THE MICHAEL ROBERTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 1.10 Financial instruments The Trust has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financia instruments Issues' of FRS 102 to all of its financial instruments Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument. •inancial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise th asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of' interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Trust's contractual obligations expire or are discharged or cancelled 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminato the employment of an employee or to provide termination benefits. Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the Trust's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 12 -
THE MICHAEL ROBERTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 3 4 Income from donations and legacies Unrestricted Restricted funds 2025 Donations and grants 129,869 289,970 Income from charitable activities Unrestricted funds 2025 Restricted funds 2025 Sale of goods Services provided under contract 235,905 6,879 - 86,687 242,784 86,687 Total Unrestricted funds 2025 2024 419,839 68,419 Total Unrestricted 2025 funds 2024 235,905 93,566 33,788 329,47l 33,788 Restricted funds 2024 312,890 Total 2024 381,309 Restricted funds 2024 - 75,467 75,467 Total 2024 33,788 75,467 109,255 5 Income from investments Unrestricted Unrestricted funds funds 2025 2024 4,398 1,657 6 Interest receivable Expenditure on raising funds Fundraising and publicity Advertising Unrestricted funds 2025 € 4,720 Unrestricted funds 2024 - 13 -
THE MICHAEL ROBERTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable activities Printing, postage and stationery Training Bank charges CAB project worker Other operating costs Grant funding of activities (see note 8) Share of support and governance costs (see note 9) Governance 2025 387,323 501 179,800 41,397 14,775 13,953 17,825 4,895 4,156 1,839 1,067 46,448 13,872 727,851 6,052 3,840 93743 Analysis by fund Unrestricted funds - general Restricted funds 137.743 8 Grants payable Grants to institutions: Heart 4 Harlow Ciaster Middle East Christian Aid St Paul's Harlow Restoration Fund MacMillan - 14 - 2024 322,595 3,984 36,712 28,242 17,019 12,534 16,809 4,167 1,274 671 691 58,469 26,663 529,830 1,000 810 531,640 79,525 452,115 531,640 2024
THE MICHAEL ROBERTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to activities Governance 2025 3,840 Governance costs comprise: Accountancy 3,840 3,840 2024 810 2024 810 810 10 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year. Employees The average monthly number of employees during the year was: Employment costs Wages and salaries Social security costs Other pension costs 2025 Number 18 2025 f 357,863 18,735 10,725 387,323 2024 Number 16 2024 296,251 18,687 7,657 322,595 There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows: Aggregate compensation 2025 47,196 2024 46,022 12 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 15-
THE MICHAEL ROBERTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Tangible fixed assets Cost At 1 April 2024 At 31 March 2025 Depreciation and impairment At 1 April 2024 Depreciation charged in the year At 31 March 2025 Carrying amount A1 31 March 2025 At 31 March 2024 14 Stocks Fixtures and Motor vehicles fittings € 6,242 6,242 6,231 6,242 38,87l 38,871 30,911 490 31,401 7,470 7,960 2025 34,318 Finished goods and goods for resale 15 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income 2025 7,618 3,906 11,524 16 Creditors: amounts falling due within one year Other creditors Accruals and deferred income 2025 4,770 121,145 125,915 - 16 - Total 45,113 45,113 37,142 501 37,643 7,470 7,971 2024 14,198 2024 6,321 - 6,32l 2024 9,101 151,499 160,603
THE MICHAEL ROBERTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Retirement benefit schemes 2025 2024 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 10,725 7,657 he Trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are he eparately from those of the Trust in an independently administered fun 18 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject 1o specific conditions by donors as to how they may be used. At 1 April 2024 Incoming resources Resources expended Transfers At 31 March 2025 Maybury Open Door Harlow Foodbank Bump to 5 Bounty Club 37,618 32,557 267,925 12,883 63,292 376,657 (82,163) (283.029) (34,611) (135,872) (535,675) 49,606 15,104 21,728 34,962 121,400 1.... - Previous year: At 1 April 2023 ncomin resource Resources expended Transfers At 31 March 2024 Maybury Open Door Harlow Foodbank Bump to 5 Bounty Club 16,536 : 34,177 227,930 22,466 103,784 (53,313) (302,610) (30,026) (66,166) 19,136 27,844 7,560 : 37,618 46,836 388,357 (452,115) 54,540 37,618 - 17 -
THE MICHAEL ROBERTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Designated funds These are unrestricted funds which are material to the Trust's activities. Redundancy reserve Previous year: At 1 April 2024 26,554 At 1 April 2023 26,554 26,554 At 31 March 2024 26,554 20 21 Redundancy reserve Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have beer set aside out of unrestricted funds by the trustees for specific purposes At 1 April 2024 Incoming resources Resources expended € Transfers At 31 March 2025 f General funds 59,079 377,051 (206,788) (121,400) 107,942 Previous year: At 1 April 2023 General funds 89,280 Incoming resources 103,864 Resources expended (79,525) Transfers f (54,540) At 31 March 2024 f 59,079 Analysis of net assets between funds At 31 March 2025: Tangible assets Current assets/(liabilities) Unrestricted Unrestricted funds funds general Rehandancy 2025 7,470 100,472 26,554 107,942 26.554 Restricted funds 2025 : Total 2025 7,470 127,026 134,496 - 18 -
THE MICHAEL ROBERTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Analysis of net assets between funds (continued) At 31 March 2024: Tangible assets Current assets/(liabilities) Unrestricted Unrestricted funds funds general Redundanny 2024 7,971 51,108 59,079 26,554 26,554 Restricted funds 2024 Total 37,618 37,618 2024 7,971 115,280 123,251 22 23 Related party transactions There were no disclosable related party transactions during the year (2024 - none). Prior year adjustment In the year ended 3! March 2024, income received in advance was not accounted for. This totalled £150,689 of which €42,959 was unrestricted funds and £107,730 was restricted funds. In addition stock of £14,198 was not accounted for: I he year ended 31 March 2023, income received in advance was not accounted for. This totalled £75,683 all of which wa restricted funds. The prior year accounts have therefore been restated accordingly - 19-