2024-03-31-accounts

Regf5tered No 1067378 ILIB CHARITABLE TRUST Annual Report and Financial Statements 31 March 2024

TRUSTEES MJdeHBell CMBell EJdeHBell R L de H Buller {Appointed on 30 September 2024) PRINCIPAL ADDRESS Birch House 37 Waterford Lane Lymington S041 3PT AUDITORS SKS Audit LLP 3 Sheen Road Richmond TW9 1AD BANKERS Cater Allen Private Bank 9 Nelson Street Bradford BD15AN

TRUSTEES, REPORT The Trustee5 present their report along with the financial statements of the Charity for the year ended 31 +llarch 2024. The firbancial 5tateTnents have been prepared in accordance with the accounting policies set out in thi5 report and comply with the applicable law. CONSTITUTION AND OBJECTS The MJB Charitable Trust was established on 10 December 1997 and registered as a charity on 12 January 1998. It is governed by a Trust Deed. The objects of the CharTty are to SUPFK)rt any charitable objects and purposes, in any part of the world, which the Tru5tee5 at their absolute discretion think fit through the wovlsion of grants and assistance, primarily to vulnerable persons. ORGANISATION The Trustees who have served during the year and since the year end are set out on the previous page. The Trustees meet as required to discuss and approve the actiwties undertaken by the Trust. FINANCIAL REVIEW AND INv￿ME1￿ POUCY Durlng the year the Trustees have made donationslgrants totalling £581,467. The Charity operates a single unrestricted fund which amounted to £5,524,395 at 31 March 2024. There are no restrictions on the Trustees, powers to invest. The Charity's funds which are not required to meet operational costs were invested at 31 March 2024. The investments consist of a holding in indexed-llnked Treasury Stock, cash at bank or bank deposlts an units in COIF Investment Fund5. There are no direct holdings of shares. COIF take5 account of social, environmental and ethical consideration5 in its investment policy. LE¥lEL OF RESERVES The Trustees have considered the minimum reserves to be held by the Charity. It Is the policy of the Charity to hold an amount equal to a minimum of the committed grants and donations at any time plu5 £20,(KX). At the year end the assets held were very significantly in excess of this amount. Free reserves totalled £5,524,395 12023: £5,237,286). PUBLIC BENEFIT & GRANT MAKING POUCY The Truslees confirm that they have referred and considered the Charity Commi55ion'5 guTdance on public benefit, including the guidance 'public benefit: running a charity IPB21', when reviewing the Charity's aims and objective5 and in plarining future activities and projects. The objectives of the Charity are very wide and the organi5ationslindividuals that the Charity supports are those which it thinks are worthy of its support, The Charity has, in practice, mostly supported other charitie5 which provide help to those with mental health issues, homelessnes5 and work in Central Africa.

RISK MANAGENIENT The Trustees have reviewed and identified the major risks to which the Charity is exposed and are satlsfied that appropriate steps are in place to mitigate them. GOVERNANCE The wwer of appointing new trustees of the Charity is vested in the Settlor. The total number of Trustees shall at no time exceed five. All decisions in respect of the Trust's operations are made and carried out by the Trustees. TRUSTEES, RESPONSIBILrriES IN RELATION TO THE FINANCIAL STATEMENTS The Charity trustees are responsible for preparing a trLJStee5' annual repN)rt and financial statements In accordance wfth appllcable law ar)d United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applTcable to charitie5 Tn England and Wales requires the Charity trustees to prepare flnancial statements for each year which give a true and fair view of the state of affairs of the charlty and of the Incoming resources and application of resources, of the charity for that period. In preparfng the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the method5 and principles in the applicable Charities SORP; make judgements and estimates that are reasonable and prudent" state whether applicable accounting standards have b*n followed, subject to any material departures that must be dlsclosed and explained In the financlal statements. prepare the financial statements on the going concern basis unless it is inapproprfate to presume that the Charity will continue in business. The Tru5tee5 are responsible for keeping accwnting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the finanaal statements comply wth the Charities Act 2011, the applicable Charfties (Accounts and Reports) Regulations, and the prowsions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable 5tep5 for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance ￿th the Statement of Recommended Practice: Accounting and Reporting by Charitles. Approved by the Trustees and slgned on their behalf by: MJdeHBell Trustee Dated: 2024

INDEPENDENT AUD￿OR,$ REPORT TO THE TRU￿Es OF MJB CHARITABLE TRUST Opfnlon We have audlted the financial statements of ILIB Charitable Trust Ithe'charity'l for the year ended 31 March 2024 which comprise the Statement of FinancTal Activities, the Balance sheet, the Cash Flow Statement and note5 to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our oplnlon, the financial 5tatementS: give a true and fair view of the state of the Charity'5 affair5 a5 at 31 IAarch 2024 and of its incoming resources and appllcatlon of re￿urCeS for the year then ended. have been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practice. have been prepared in accordance with the requirements of the Charfties Act 2011. Basls for oplnlon We conducted our audit in accordance w7th International Standards on Auditing IUKI {ISAs IUKII and applicable law. Our responsibilities under those standards are further deKribed in the Auditors, responsibilities for the audit of the financial statements 5ectlon of our report. We are Independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC% Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to going concern In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not Identified any material uncertainties relating to events or conditions that, individually or collectTvely, may cast significant doubt on the Charity s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the tru5tee5 with respect to going concern are described In the relevant sections of this report. Other 1nformatlon The trustee5 are responsible for the other infoThation. The other information comprises the information included in the Annual Report, other than the financial statement5 and our Report of the Independent Audltors thereon. Our opinlon on the flnanc7al Statements does not cover the other information and, except to the extent otherwise explicitly stated in our report. we do not expres5 any form of assurance conclumon thereon. In connection wth our audTt of the financial statements, our responsibility TS to read the other information and, in doing so, consider whether the other infomiation is materially inconsistet)t with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether thi5 gives rlse to a material misstatement in the financial statements themselves. If, based on the work

we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in thi5 regard. Matters on which we are requlred to report by exceptlon We have nothing to rewrt in respect of the following matters in relation to whlch the Charities IAccDurbts and Report51 Regulations 2(KJ8 requires us to report to you If, in our opinion: the infonnation given in the Trustees. report is inconsistent in any Material respect with the financial statements; or sufficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records. or we have not recelved all the information and explanations we require for our audit. Responsibilities of the trustees As explained more fully in the Statement of Trustee5' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from materlal misstatement, whether due to fraud or error. In preparlng the flnanaal statements, the t￿￿tee5 are responsible for assessing the charity's ability to c{￿tInue as a going concern, disclosing, as applicable, matter5 related to going concern and using the going concern basis of accountlng unless the trustees either intend to liquidate the Charlty or to cease operations, or have no realistic alternative but to do so. Our responslbllitles for the audit of the financial statement5 We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtaln reawnable assuran￿ about whether the financial statements as a whole are free from material misstatement, whether due Lo fraud or error, and to issue Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of a55urance, but is not a guarantee that an audit conducted in accordance wth ISAS IUK) will always detect a material mi55tatement when it exists. Misstatement5 can arise from fraud or error and are considered material if. individually or in the aggreyate, they could reasonably be eX￿ted to influence the economic decisions of users taken on the basis of these financTal statements. The extent to which our pr￿edureS are capable of detecting irregularlties, including fraud is detailed below: We obtalned an understanding of the legal and regulatory frameworks applicable to the Charity and the sector in which it operates. We obtalned an understanding of how the Charity Ts complying with t￿se legal and regulatory frameworks by making enquires of management. We assessed the susceptibility of the Charitys financial statements to material misstatement, including how fraud might (Kcur. Audit procedures perfomied by the engagement team included: 1. Identifying and assessing the design effectiveness of controls management ha5 1 place to prevent and detect fraud. 2. Understanding how those charged with govemance considered and addressed the potential for override of controts or other inappropriate influence over the financial reporting process.

1. Challenging assumptions and judgments made by management in its accounting estirnate5.
2. Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and
3. Assessing the extent of compliance with the relevant Liw and regulatlons. A further description of our responsibilities for the audit of the financial statements is located on the Financial Rewrting Council's website at www.frc.org. uklauditorsresponsibilities. This description fomis part of our Report of the Independent Aui*tors. Use of our report This report is made solely to the charlty's trustees, as a body, In accordance with Part 4 of the Charities (Accounts and Reportsl Regulations 2008. Our audit work has been undertaken so that we might Stale to the charity'5 trustees those Matter5 we are required to state to them in an auditors. report and for no other purw5e. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the chadty's trustees as a body, for our audit work, for this rewrt, or for the opinions we have formed. Mrmo narden Plllay Chelvanaigum Senlor Statutory Auditor For and on behalf of SKS Audit LLP Chartered Accountant & Business Advisors 3 Sheen Road Rlchmond Upon Thames TW9 IAD

MJB CHARrrABLE TRUST STATEMENT OF FINANCIAL AcnvmES for the year ended 31 March 2024 Total. 2023 Totall Z024 Note I INCOME Donations 165,0 275,000 i Investment income: osit interest 1,875 Govemment Stocks 834 940 Un7t trusts 144,546 '. TOTAL INCOME 312 255 422 570 EXPENDITURE Expendlture on charltable actmties Charitable activities: Donations Grants EJable Other costs 381,057 166,449 TOTAL EXPENDrruRE 507 723 586 292 NEf INCOiIEIjEXPÈNDITURE) 163:722)_ l Unrealised gainsl(lossesl on revaluatTon of Investment assets 195 325 450 831 Net movement in funds 390 793 287 109 Reconciliation of funds Fund balances at 1 Apnl 2023 BALANCE AT 31 MARCH 2024 5 628 079 5 237 286 5 237 286 524 The statement of financial activitTe5 incl￿eS all gains and 105ses in the year. All incoming resources and resources expended derive from continulng actI￿tIes. 'Ail funds are unrestricted

MJB CHARITABLE TRUST BALANCE SHEET at 31 March 2024 Total. Total. 2023 2024 INVESTMENTS Government stocks Unlt Trust 37,532 4 971 175 5 008 707 38,382 5421 156 5 459 538 CURRENT ASSErs Debtors Cash at bank and on deposit 240,677 99,457 Credltors: Amounts falllng due within one year NET CURRENT ASSErs TOTAL ASSETS LESS CURREKf LIABILITIES 5 237 286 5 524 395 FUNDS 5 237 286 24 All f￿dS are unrestrtcted The financial statements were approved by the Trustees on Iq 0tr4Jts 2024 and signed on their behalf by: MJdeHBell Trustee

JB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2024 PRINCIPAL ACCOUNTING POLICIES The principal accountir)g policies are summarised below. The accountlng pjlicles have been applied ci)nsistently throughout the year and in the preceding year, except where stated. a) Basis of accountlng The flnanclal statements have been prepared in accordance with 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 1021 (effective 1 January 20191- (Charities SORP IFRS 102}I, the Finandal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}. IIUB Charilable Trust meets the definition of a public beneflt entlty under FRS 102. A55ets and liabilities are initially recogni5ed at historical cost or transaction unless otherwise stated in the relevant accounting policy note. b) Income Income is recognised when the charity has entitlement to the funds and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Investment income is ?￿luded when receivable Voluntary income is received by way of grants, donations and gifts and is inclLKJed in full in the Statement of FinancTal Actiwties when receivable. c) Expefiditure Expenditure is included on an accruals basis as a liability Is fncurred. Expenditure Includes any VAT which cannot be fully recovered, and 15 reported as part of the expenditure to which it relates: Charitable expenditure comprises those cost5 incurred by the Charity In the delivery of its activities and seryices lor its beneficiarles. It include5 both costs that can be allocated directly to such activitie5 and those costs of an indirect nature necessary to support them. Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognlsed as expenditure when the C¢)nditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the yearend are noted as a commitment, but not accrued a5 expenditure. Governance costs include those costs associated with meeting the constitutlonal and statutory requirements of the Charity. 10

MJB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2024 d) Investment5 Investments, consisting of Govemment st(Kks and unit trust5, are forms of basic financial instrument and are inltlally reC￿nised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing market value. The statement of financial activities includes the net gains and losses arfsin4 on revaluation and disposals throughout the year. Other investments are held at cost. e) Fund accountins Other charitable fund5 are donations and other incoming resources or generated for the objects of the charity ￿th￿t further specified purpose and are available as general funds. f) Going Concern The Trustees consider that there are no material uncertainties about the charity's ability to continue as a goir)g concern. gl Cash at bank and in hand Cash at bank and cash In hand i￿LudeS cash and short term highly liquid investments with a Short maturity of three months or less from the date of acqulsltlon or openlng of the deposit or similar account. hj Trade ond Other Recelvables Trade and other receivables are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discount5 due. h) Trade and Other Payables Payables are reC￿nised where the charlty has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount dLJe to settle the obligation can be measured and estimated reliably. 11

MJB CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2024 INVESTMENTS The investments heid consist of: 111 A holding of Index-llnked Treasury Stock maturing in July 2024 with a market value of £38,382 at 31 March 2024 (2022: £37,532). Units held with COIF Investment Funds with a market value of £5,421,156 at 31 March 2024. Original cost £4,050,(￿o. Movement in the year: Valuation as at 1 April 2023 Unrealised gains Valuation as at 31 hlarch 2024 4,971,175 449,981 5,421,156 GRANTS AND DONATIONS During the year grant5 Of: £78,000 were made to Solent Mind to fund their Heads-up Young People Semce and for the Weekend Support Seryice at the two resource centres that they run in the New Forest. £62,410 were made to Minstead Trust to enable them to purchase and develop the Real Jam and Chutney Company Limited. £60,000 were made to Dorset Mind for the provision of seThices to children and young people In Dorset. In addltion, further donatlons of £381,057 in aggregate were made in the year all of which were made to institutions. The highest value to one individual institution was £30,000 for this financial year. CRED￿OR5 Represented by: 2023 2024 Donations Audit fees 7,298 25,000 £12 098 £34 600 TRUSTEES REMUNERATION None of the Trustees lor any persons connected with them) received any remuneration or reimbursement of expenses during the year. 12

MJB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2024 RELATED PARTIES Durlng the year ending 31 March 2024 the Charity received donations of £220,IJ)O 12023: £165,000) from its Trustee5 - Mr M J de H Bell and Mrs C M Bell which have been grossed up for the attributable gift aid. AUDITOR'S REMUNERATION 2024 2023 Auditor'5 fee 13