2025-03-31-accounts

ReBlrtered No 1C67378 hUB CHARrrABLE TRUST Annual Rep)rt and Finanaal Statements 31 March 2025

TRUSTEES MJdeHBell CMBell EJdeHBell R L de H Buller PRINCIPAL ADDRESS Birch House 37 Waterford Lane Lymington S041 3PT AUDrroRS 5KS Audit LLP 3 Sheen Road Richmond TW9 1AD BANKERS CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4JQ

TRUSTEES. REPORT The Trustees present their report along wlth the financlal statements of the Charity for the year ended 31 March 2025. The flnanclal statements have been prepared In ￿cOrdance wlth the accountln8 pollcles set out In this rep(rt and coM￿Y wlth the appllcabLe law. CONSTITUTION AND OBJECTS The MJB Charitable Trust was establis￿d on 10 December 1997 and reglstered as a charfty on 12 January 1998. It is governed by a Trust Deed, The d)jects of the Charlty are to SUFPOrt any charitable objects and purposes, in any part of the world, whlch the T￿Slee5 at thelr absolute discret1(￿ think flt through the PrO￿$10n of grants and a5ST5tance) prlmarTly to vulnerable persons. ORGANISATION The Trustees who have served durlng the year and slrKe the year end are ￿t out on the prevlous page. The Trustees meet as requlred to discuss aid apprcNe the attlvltles undertaken by the Trust. FINANCIAL REVIEW AND INIESTMEKf POLICY t￿rIng thÈ year the Charlty ha5 made donatlonslsrants totalllng £1,011,461. The Charity operate5 a slngie unrestritted fund which amounted to £4,988,316 at 31 March 2025. There are no restrictions on the Trustees, piwers to invest. The Charity's funds whlch are not requlred to meet opèratlDnal costs were inyested at 31 March 2025. The Investments consist af units In COIF Investrnent Funds and cash at bank or bank deposit5. There are no dlrect holdlngs of shares. COIF takes account of Sc￿lai, erwironw*ntal and ethical conslderatlDlls in its Trivestment policy. LEVEL DF RESERVES The Trustees have considered the mlnlmum reserves to be held by the Charity. It is the pollcy of the Charlty to tr￿d an arn(￿nE ewal to a rr.inlmum of the c(Mnmltted grants and donatTons at any tlme plus £20,000. At the year end the assets held were very slsnlflcahtly In excess of thls amount. Free reserve5 totalled IX,988,31612024: £5,524,395>. PUBLIC BENEFrr & GRAKf IIAKING POLICY The T￿tst￿$ conflrni that they have referred and considered the Charlty Comm15slon's guidance on public beneflt, Including the guldance 'publlc benefit: running a charity (PB2}', when revfewln¥ the Charity's alms and objectlve5 and In plamfng future actlrftles and ojects. The objectlves of the Chartty are very wide aid the orsanlsatlon51individuals that the CharTty supports are those whlch It thlnks are worthy of its suptx>rt. The Charity has, In practice, mostly supported other charities vthkh provTde help to those vhth mental health Issues, homelessness and work in Central Afr,ca.

RISK MANAGEMEkir The Trustees have re￿eWed and IdentSfled the major rfsks to whlch the Charfty Is expi)sed and are sat15fled that approprlate steps are In place to mitlgate them. GOVERNANCE The wwer of appoInti￿ new tnjstees of the Charfty Is vested In the Settlor. The total number of Trustees shall at no tlme exceed flve. A(1 declslons In respect of the Trust's operatlons are made and carrled out by the Trustees. Tru¥rEE5' RESPONSIBILITIES IN RELA￿ON TO THE FINANCIAL STATEMEKrs The Charlty tnjstees are respjislble for preparlng a trustees, annual report and flnandal statements In accordance with appllcable law ar.d United Klngdom Accountlng Standards (United Kingdom Generally Accepted Accountlng Practlcel. The law appllcable to charftles In England and Wales requires the Charfjty trustees to prepare flnanclal staternents for each year whlch give a true and fair view of the state of affalrs of the charlty arKI of the Incoming resources and applicatlon of resources, of the charfty for that perlod. In preparing the flnancial sLitements, the tTrstee5 are requlred to., select sultabie accountlng policles and then apply them consfstently observe the methcds and priKipies In opp11cable Charltles SORP. make Judgements and estÉmate5 that are reasonable and prudent; stste whether applicable accoJnting standards have been followed, subject to any materlal departures that must ￿ diKiosed and explained In the flnanclal statements; prepare the fTnanclal staternents on the golng concem basls unless Tt is Inapproprlate to presume that the Charity ￿11 contlv4Je In buslneyj. The Trustees are responslble for keeplng accountlng records whlch dTsclose with reasonable accuracy at any time the financial rnsltlon of the Charlty arKI enable them to ensure that the flnancial statements comply ￿th the Charitie5 Act 2011, the appllcable Chadtles (Accounts and Reports) Regulatlons, and the provi5i¢)ns of the Trnst Deed. They are also responsible for safeguarthng the assets of the Charfty and hence for taklng reasonable steps for the prevention and detectlon of fra￿1 and other Irreguiarftles.

Thls report has be￿ prepared In accordance with the Statement of Recommended Practlce: Accountlng and ReFxJrtlng by Charities. Approved by the Tru5tee5 and signed on thelr behalf by. MJdeHBell Trustee Dated: Zi f4 z025

INDEPENDEKf AUDITOR'S REPORT TO THE TRU￿Es OF MJB CHAR￿ABLE TRUST Oplnfon We have audited the flnanaal statements of WJB Charftable Trust (the'Charity} for the year ended 31 March 2025 whlch comprtse the Statement of Finandal Actlvitles, the Balance Sheet, the Cash Flow Staternent and notes to the flnancial statements, includlng a summary of slgnlflcant accouitlng policies. The financlal reportlng framework that has been applled In their preparation is applicable law and Unlted Kingdom Accountlng standards Iunlted Kingdom fjenerally Accepted Accountlng Practlce). In our apinlon, the flnanc1al statements: glve a true and fair view of the state of the Charlty's affalrs as at 31 March 2025 and of Its Incomlng resources ar#J applicatlon of resources for the year then ended; have been properly prepared in accordance wlth Unlted Klngdcmn Generally Accepted l£counting Practke; have been prepared In accordartt wlth the requlreffEnts of the Charitle5 Act 2011. Basls for oplnlon We conducted our audTt in accordance w5th Internatlonal Standards on Audftlng {UKI115As (UK)) ar)d appllcable law. Our re5wn51bllltles under those standards are further described In the Audltors, responsfbllltles for the audit of the financial statements section of our report. We are independent of the Charlty In accordance with the ethical requlrÈrnents that are relevant to our audit of the flnancial statements in the UK, includlng the FRC'S Ethlcal Standard, and we have fulfllled our other ethical responsibilitie5 in accordance with th￿ requlrements. We believe that t￿￿ audit evldence we have ctitalned Is sufficlent and approprfate to Pra￿de a basis for ￿r opfnlon. Conciuslons relatlng to gofng corKern In atKtitlng the flnanclal statements, we have concluded that the trustee5' use of the golnq concern basls of accounting in the preparatlon of the flnandal staternents is approprlate. Based on the work we have performed, y￿ have not Identifled any materlal uncerta1ntles relatlng to events or conditions that, Indlwdually or collectlvely, may cast slgnlflcant doubt on the Charfty's ablllty to continue as a g07ng cor.cern for a period of at least twelve mtjnths from when tne financlal statements are authorlsed for issue. Qur responsibllities and the responslbili-ies of the tnJsiees with respect to golng concem are described In the relevant sectlons of this rewjrt. Other Informatlon The twstee5 are responslble for the other 1nforrnat1￿. The other Information comprises the information Included fn the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our oplnlon on the flnancial statements does ￿t cover the other Infomiatfon and, except to the extent otherTrvlse explidtly stated In our report, we do not express any form of assurance conclusion thereoi. In Con[￿ctIon with our audlt of the flnancial statements, our responsibility ts to read the other Informatlon arml, in dolng so, conslder whether the other Informatlon Is materially Inconsistent with the financial statements or our kr.owledge obtained In the audit or otherwlse appears to be materially mls5tated. If we identlfy such materlal Inconslstencles or apparent ma:erial misstatements, we are required to detertnlne whether thfs gtves rfse to a materfal mlsstatement In the finandal statements themselves. If, based on the work

we have performed, we conclude that there Is a matertal mlsstatement of thls other InfOn￿atIon, we are requlred to report that fact. We have nothlnq to rep)rt in thls regard. Matters on whlch we are requlred to report by exceptlon We have nothing to report In respect of the fo'.lowing matters In reLatlon to whlch the Charities (Accounts and Reports} Reguiatlon5 21XJ8 requires u5 to report to you1f, In our oplnlon: the Informatlon glven In the Tru5tees' report Is Inconsfstent In any materlal respect wlth the tinandal statements" or suffldent accounting records have not been kept. c the flnancial statements are not in agreement with tkne accounting records. or we have not received all the Infomiatlon and explanattons we requi.'e for our audlt. Responslbllltles of the trustees A5 explalned more fully in the Statemert of Trustees Responslbilities, the trustees are responslble for the preparatlon of the flnancial statements which give a tr￿ and falr vlew, and for such Internal Contr(￿ as the trustees determine is necessary to enable the p￿paratIon of financlal statements that are free from maberial m15Statement, whether due to fraud or error. In preparlns the flnandal statewMts, the trustee5 are responsible for a55esslng the charitvs èbllity to continue as a golng concem, discloslngi as appllcabie, mattets related to golng concern and using the going concem basis of accountlng unless the trustees elther Intend to Ilquldate the Charlty or to cease operat1￿, or have no reallstlc alternative but tod0￿. Our responslbilitie5 for the audlt of the flnandal statements We have been appolnted as auditars under Section 144 of the Charltles Act 2011 and reporl In accordance vlth the Act and relevant regulatlons made or havlng effect thereunder. Our objectives are to obtaln rea50nabie assurance about whether Lhe fIna￿la1 Statements as a wI￿le are free from materfal mlsstatement, whether due to fraud or error, and to issue a Report of the Independent Audltots that includes our oplnTon. Reasonable assurance Is a hlgh level of assurance, but Is not a guarantee that an audit conducted In accordance WIth15￿ (UK) will always detect a materfal misstatement when it exist5. Mlsstatements can arise from frdud or error and are considered material if, indfvidually or In the aggregate, they could reasonably be eX[￿tted to influence economlc dectsions of users taken on the basls of these flnandal Statements. The extent to whlch our procedures are capable of detectlng Irregularlties, Includlng fraud Is detailed below: We obtalned an understanding of the legal and regulatory frameworks applicable to the Charity and the sector In whlch It operates. We obtalned an understandlng of how the Charity Is complylng WTth those legal and regulatory frameworks by maklng ewulres of management. We assessed the susceptibility of the Charitys financial statements to material mlsstatement, including how fraud ￿ight c￿Ar. Audit procedures performed by the engagement team Included.. 1. Identifying and assesslng the deslgn effectivene&s of controls management has In place to prevent and detect fraud.

1. Understanding those charged with governance consldered and addressed the potentlal for override of controls cff other InapproprEate Influence over the fIna￿la1 reporting prctess.
2. Challenging assumptions and jLxlgments made by management In Its accountlng estimates.
3. Ident1fyTng and testlng Joumal entrie5,1n partlcular any Joumal entrie5 Posted with unusual account comblnatlons. and
4. Assesslng the extent of compllance with the relevant law and regulatlons. A further descrlptlon of our respDnslbilities for the audlt of the flnanclal statements Is located on the Financlal Reportlng Councils website at www.frc.org.uklaudito￿re￿S1bllftle5. Th15 de5CriPtlon fcyms part of our Report of the Independent Audltors. Use of our report Thls rewrt ts ￿.ade solely to the charitys tn￿frees, a5 a boty, In accordance wfth Part 4 of the Charities (Accounts and RerM)rts) Regulations 2008. Our audlt work has been undertaken so that we mlght state to the tharftys tNstees those matters we are requlred to state to them In an audltors. report and for no other purpose. To the fullest extent permltted by law. we do not accept or assume resrthsibility to anyone other than the charfty and the chariws trustees as a bodyj for wr audit wo￿. for thls report, or for the opinions we have formed. osanarden C elvanalsum FCCA Senior Ststutory Audltor For and on behalf of SKS Audlt LLP Ch14rtered Accountsnt & Business'Advlsors 3 Sheen Road Rlchmond Upon Thames TW9 1AD Date: 2qID 2025

MJB CHARITABLE TRUST STATEMENT OF FINANCtAL AcfiviTIES for the yoar ended 31 March 2025 Total, 2024 Totalfi 2025 Note INCOME Donations 275,000 581,426 Investment Income: Dep¢)sit Interest 2,084 451 Government stocks 940 483 Unlt trust5 145 352 TOTAL INCOME 57 727 712 EXPENDrruRE Expèndlture on charltsble act1￿1 CharftabLe attlvltles: E¥)natlpns Grants payable Other costs 381,057 200,410 373,461 638,000 TOTAL EXPENDrruRE 586 292 1022 458 NEf EXPENDrruRE {163,7221 (294746) RealisedlUnreali5ed galnsl{lowl on revaluation of investment Dssets 241 333 Net nwvement In funds 536 79 Réconcllfatlon of funds Fund balance5 at 1 April 2024 BAIANCE AT 31 htARCH 2025 The statement of flnancial aciivTties Includes all galns aTrl 1055es In the year. All Incomlng resources and resources expended dorfye from contirnulng actl7Atles. 'Ail funds are unrestdcted

MJB CHARITABLE TRUST BALANCE SHEET at 31 March 2025 Total. Total* 2024 2025 INVESTMEtrirs Government stctks Unlt Trust 38,381 5 421 156 5 459 538 4 879 543 4 879 543 CURRENT ASSErs Debt¢ws Cash at bank and on doposlt 55.218 99.457 124.065 Credltors: Amounts falllnl due wtthin one year CURRENT A5SErs TOTAL ASSETS LESS CURRE1￿ UABILrriES 5 524 395 4 988 316 FUNDS 5 524 395 All fufjds are unrestrlcted The financial statements were approved by the Trustees on li 2025 and signed on their behalf by: MJdeHBell Trustee

MJB CHARrrABLE TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 31 hlarch 2025 Z024 2025 Net cash flow used In Operati￿ activltles 141220 369 272 Cash flows from Investing actfvltles Disposal Df Investments Cash provlded by *)vestlni actlvftles 338 662 338,662 Decrease in c45h & cash equlvalents In the year 141 220 {30,6101 Cash & cash eqLrivalÈrt5 at the beglnrkln8 of the year 240,6TI 99,457 Total cash & cash equlval?nts at the erKI of the year 10

MJB CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 hlarch 2025 PRINCIPAL ACCOUNTING POUCIES TiTre principal accounting policies are sumniarised below. The accounting pol1cies have been applied consistently throughout the year and in the preceding year, except where stated. a) Basls of accountlng The flnancial statements have been prepared in accordance wlth Accountlng and Reporting by Charities: Ststernent of Recommended Practlce applicable to charTtles preparlng their accounts In accordance the Flnancfal Reporting Stsndard applicable In the UK and Republic of Ireland (FRS 102> leffectlve 1 January 2019) - (Charitfes SORP {FRS 102)), the Financial Reporting Standard appllcable In the UK and Republlc of Ireland (FRS 102). MJB Charltable Tnjst meets the deffnitlon of a public benefit entlty under FRS 102, Assets and IlabilitTes are Inltfally recognised at hlstorlcal cost or transaction unless otherwise stated in the relevant accountlng policy note. b) Income Income is recognlsed when the charity has entitlement to the funds and the amount can be quantified wlth reasonable accuracy. The followlng speclflc policies are applied to particular categories of Income: Investment income1s included when receivable Voluntary Income is received by way of grants, donations and glfts and Is included in full in the Statement of Flnandal Activitie5 when receivable. c) Expend7ture Expendlture Is Included on an accrual5 basis as a liabillty Is Incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expendlture to which It relate5: . Charltable expenditure Compr1￿ those costs incurred by the Charfty In the delivery of Its activitles and services for its benefldarles. It include5 both Costs that can be allocated threctly to such activitles and those costs of an indirect nature necessary to support them. Grants payable are charged in the year vthen the offer is conveyed to the redpient except in those cases where the offer Is condltlonal, such grants being recognlsed as expenditure when the conditlons attachlng are fulfilled. Grants offered subject to conditions which have not been met at the yearend are noted as a commitment, but not accrued as expendlture. Govemance costs Include those costs assc￿lated with meetlng the constltutionaL and statutory requirements of the Charlty. 11

d) Investments Investments, consistlng of Govemment stcth and unit trusts, are forms of baslc flnanclal Instrument and are iThltlally recognised at their transaction value and subsequently measured at thefr fair value as at the balance sheet date using the closing market value. The statement of flnancial actiYitie5 includes the net 8ains and losses arising on revaluatlon and disposals throughout the year. Other Investments are held at cost. e) Fund accountlns Other charftable fund5 are dDnatlons and other Incoming resources or generated for the objects of the charfty without further specified purFX)se and are available as general funds. f l Golns Concern The Trustees consider that there are no material uncertalnties about the Charfty's abllity to contlnue as a going COn￿M. g) Cash at bank Cash at bank includes cash and short tem highly liquid investments a short maturlty of three months or less from the date of acqufsltlon or openlng of the deposlt or simllar account. INVE¥fMENTS The Investments consist of Unlts held with COIF Investrnent Funds with a rnarket value of £4,879, 543 at 31 March 2025. Movement in the year: Valuatlon as at 1 April 2024 Unlts enca5hed Unreallsed losses Valuation as at 31 March 2025 5,421,156 (3CK),IM)O> (241,613) 4,879,543 During the year the holding at 31 March 2024 of Indexed-linked Treasury Stock matured with a realised gain of E280. 12

GRAltrs AND DONATIONS Durins the year grants of: £78,OCX) were made to Solent Mind to fund thelr Heads.Up Young People Servfce and for the Weekend Support Service at the two resource centres that they run Tn the New Forest. £60,OQO were made to Dorset Mind for the provision of seNlces to children and young people In Dorset. £500,000 was made to Foxies, Future to assist in the purchase of the Foxlease Activity Centre. In additlon, further donatlons of £373,461 in aggregate were made In the year all of Ich were made to institutions. The hlghest value io one indiifjdual Institutlon was £30,OLNJ for thls flnancial year. DEBTORS Represented by: 2024 2025 Tax repayable Dlvidend payable 20,000 CRED￿OR5 Represented by: 2024 2025 Donatlons Audit fees 25,000 10,OCIJ £15 292 TRUSTEES REMUNERATION None of the Trustees (or any persons connected with them) recelved any remuneration or reimbursement of expense5 during the year. RELATED PARTIES Durlng the year ending 31 March 2(r25 the Charity received donations of £465,000 (2024: £220,IXIO} from its Trustees - Mr M J de H Bell and Mrs C.M Bell which have been srossed up for the attributable ￿ft a1d. AUDrroR'S REMUNERATJOM 2024 2(Y25 Auditor's fee 13

Cash flow from operatlons 2024 2025 Net. movement in fund5 Unrealised {loss}Igain on revalua￿On of investment Increase In debtors Increase / (decrease) in credltors 287,109 (536,079 (450,831) 241,333 {55,218) {19,308) 22,502 Net cash flow used In operatlng actlvltles 141,220 l O. Ultimate Controlllng Party For the whole of the year, the charity was under the control of the Trustees as shown fn legal and adminlstratfve inforniation. 14