REGISTERED CHARITY NUMBER: 1072561
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR
MEHR MUTUAL CONCERN
GB Accounting Solutions Limited Building 115 Bedford Technology Park Thurleigh Bedford Bedfordshire MK44 2YA
MEHR MUTUAL CONCERN
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2024
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|Report|of the|Trustees|1|to|7|
|Independent|Examiner's|Report|8|
|Statement of Financial|Activities|9|
|Balance Sheet|10|
|Cash|Flow Statement|11|
|Notes|to|the Cash|Flow Statement|12|
|Notes|to|the|Financial|Statements|13|to|18|
|Detailed|Statement of Financial|Activities|19|
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MEHR MUTUAL CONCERN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal objectives of the charity are:
- Social welfare and educational causes for people either in or from overseas underprivileged countries. 2. Such charitable purposes as the trustees in their absolute discretion think fit and, in particular, without prejudice to the generality of the foregoing, the relief of poverty of persons resident in Lucknow, Uttar Pradesh, India.
Public benefit
The charity exists for the public benefit. Our deed of trust commit us to annual financial donations to (1) students attending Shia College & Shri Jai Narain Post Graduate College in Lucknow; (2) institutions supported by the Tauheedul Muslimeen Trust; (3) welfare and educational support to individuals in India (Lucknow) and Pakistan; (4) Sonar Bangla School in Bangladesh (Sylet); (5) other charitable organisations that support our objectives; (6) other educational institutions that support our objectives.
The trustees have given regard to the Charity Commission's guidance on public benefit when setting the aims and objectives for the year.
The main policies adopted are to ensure basic welfare of students and individuals to help them successfully complete their educational studies to allow them to support themselves when they become adults.
Children and students receive financial support from the charity either directly or indirectly via registered charities nominated and identified by educational institutions based on those most in need.
Volunteers
The charity receives no material donated services and places a minimal reliance on external volunteers.
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MEHR MUTUAL CONCERN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2024
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ACHIEVEMENTS AND PERFORMANCE
Charitable activities We had a successful year as income from our investments increased, as did our reserves. . In the current year we increased overall donations by 32% to £46,187 (2023: £34,870). Most of this increase was due to adhoc in year donations to 'Medical Aid for Palestinians'
Our donations/activities can be separated into 4 parts:
- Donations to support students directly 2. Donations to the TMT 3. Donations to other registered charities 4. Donations to other educational institutions
Donations to support students directly
In Lucknow we directly supported 6 students (2023: 6) studying in various gtades/years from school year 7 to Masters Level at university (MBA). Overall, funding in Indian Rupee (Rs) terms was increased compared to the previous year due to students moving to higher classes that incur higher fees Rs640,865 (2023: Rs501,440). The increase in Pound (£) terms was £6,100 (2023: £4,800).
As stated in previous reports, it is our aim to support the students we sponsor all the way up to university graduation. We are very aware as students move up the education system costs increase significantly. Therefore we must balance how many students we can support at the same time. We do not want a situation where we must stop supporting a student if they wish to continue their studies at university due to a lack of funds. Keeping that in mind the trustees decided that we are comfortable with the current number of students (6) that are supported and do not see an increase soon. The situation is reviewed every year and due consideration is given to see if we can afford to support additional students.
Donations to the TMT
Scholarships and hardship funding
Since 2014 we have engaged with the Tauheedul Muslimeen Trust (TMT) hittp://tauheed.net/, a non-profit organisation for educational and charitable purpose, registered by the Indian Government. They have helped us co-ordinate our efforts in Lucknow. This partnership has been very successful in identifying needy students across various university colleges and distribution of funds to them. As there were no Capital expenditure projects proposed in the current year we decreased funding to £10,200 (2023 £14,460).
We continue to support 12 needy (6 Male + 6 Female) degree students in terms of fees £3,300 in total for their whole degree course. The trustees reviewed the candidates that were identified by the TMT and agreed to support these students that are in TMT institutes in Lucknow. We are comfortable that we can support these students for 3 to 4 years. This policy will be reviewed on a yearly basis. Funding is provided for hardship/financial support for students, we have not received a breakdown of distributions in the current year but in previous years 158 students at TMT educational institutions were given scholarship or hardship funds ranging from Indian Rupees Rs400 to Rs8,000.
The TMT re-established a relationship with the new principal at the 'Shri Jai Narain Post Graduate College’, to provide hardship funds to students. We have not received a breakdown of distributions in the current year,
£1,200 of the donation was allocated to the TMT for their own charitable projects
It was our founder's wish that we have a balanced approach while supporting religious based educational establishments/charities and we should distribute funds to different religious and non-religious based institutions/charities. The trustees are grateful that TMT will re-establish a relationship with the Shri Jai Narain Post Graduate College, which is primarily a Hindu based institution, so that needy students can apply for hardship funds.
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MEHR MUTUAL CONCERN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2024
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ACHIEVEMENTS AND PERFORMANCE
Project funding
The TMT
No Projects were funded in the current year.
Sonar Bangla School
In the previous year we were presented with a proposal to build a new school on land that was being acquired in Bangladesh. The new school would be a purpose-built school and replace the current temporary building that the school is run from. The Project was costed and would be done in phases. Trustees agreed that this would be a project that the Charity could support but needed clarification on the land being acquired before we would agree to proceed with funding. Photos and documentation were received confirming that the land has been donating to the ‘Sonar Bangla Primary School’ in favour of the school's founder (Dr Sultana Chowdhry). But due to flooding and weather conditions no progress was made in previous years. In the current year £12,257 was provided to start the building project for the school. A report from the school is presented later on in the report.
Future
We are grateful for the work TMT has done on our behalf in identifying 12 needy students (6 Male and 6 Female). We are funding/assisting with their fees and will support these students until they finish their degrees or higher qualifications. We are aware of inflationary pressures on fees and look forward to a revised costed proposal for next year. Estimated costs on a yearly basis are currently around £3,300 a year for the 12 students. In terms of future projects once a budget has been allocated by the trustees based on investment income for the year and ongoing commitments, we have 2 main ways to identify projects for funding. We rely on our trustees to propose projects, and we ask The TMT for proposals. Merits of the proposals are discussed and if suitable, funding is allocated.
Donations to other registered charities
Finally, our trustees have identified a number of charities and projects to support. All Trustees that attended the AGM were given an allowance of £1,000 to donate to charities/causes that meet the objectives of the Charity. Funding to them in the current year was £8,000 (2023: £9,000). Charities supported during the year were Medecins Sans Frontieres (MSF), African Village Support, TMT, Medical Aid for Palestinians (MAP), and Poor in Need.
Due to the situation in Gaza, we donated an additional £5,000 midyear to Medical Aid for Palestinians (MAP).
Since the Charity's founding, the Charity has donated just over £241,000 to various charitable causes.
Donations to Other Educational Institutions
As agreed in previous years ‘Poor in Need’ was given £6,000 (including £500 in trustees’ donations) (2023: £7,000 including £750 in trustees’ donations). This charity has built and runs a school in Bangladesh (Sonar Bangla School) on a non-religious basis and provides primary education to some of the poorest, excluded children in Bangladesh. A report has been provided by the school which is summarised below:
Sonar Bangla School Report for MEHR - 2024
Introduction
The Sonar Bangla School is going well, although there has been some building works this year. With your funding the children have been taught English, the Bengali curriculum and other activities. Efficiently run with a new dedicated Principal and three teachers, the children are taught on a rotating basis.
What was done?
The funding helped to run the school in terms of: - staff salaries - bills for the building - maintenance because of hurricane and flooding - teaching materials - snacks and food for the children
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MEHR MUTUAL CONCERN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2024
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ACHIEVEMENTS AND PERFORMANCE
- first aid and medicine
The funding for the building work that you kindly provided meant that much needed work was done, although some is still ongoing.
Issues/developments
The school has become a small hub in the local area and there continues to be positive feedback on the support that the children have had and the teaching from staff members The wider politics of the prime minister Sheikh Hasina being ousted out of government meant much upheaval for the country which also reached the village. This led to some violence, closure of government schools, facilities and transport and shops and the increase in prices of basic food and materials.
Governance
Due to ill health and poor attendance, the principal Sujid Rahma was let go of his post and a new Principal, Naeem Chowdhury was hired. Naheem is young and proactive and has brought a lot of good ideas and new energy to the school. He also supervised and managed the building work very efficiently. The other teachers remain the same. As a new Principal I speak to Naeem daily, sometimes several times a day, to ensure that the school is being run efficiently and the building work is cost effective.
Grant Expenditure
Please see a breakdown of how the grant of £6000.00 was used: - Teacher's salary: £2,800.00 - Equipment and teaching materials: £760.20 - Food/Refreshments: £1275.80 - Miscellaneous e.g. health, first aid, medication: £164.00
Building Maintenance and works
The £12,257 was used for the following: - Road Repairs - Concrete + Work - Access to the village and path along to school. - Rain Proofing: Repairing roof, elevating the pitch of the roof to allow better rainfall and monsoon protection. Guttering system installation. - Moisture/Damp Proofing 1 - School requires adequate ventilation, damp proofing and leak mitigation. Windows need to be widened to allow more natural light and air flow.
The two major works were - the pathway to the school was recemented and rebuilt. This and the roof, took up a lot of the budget. It was an important task to do because due to the flooding damage, students, staff and parents were otherwise, unable to come to the school. The roof of the building has been partly done with new tin and wooden beams.
Conclusion As a lot of the building work still needs to be completed or started, further funding is required to complete the necessary external building works.
The staff, pupils and parents and I would like to thank you from the bottom of our hearts for your funding and support. It has made a huge difference to the lives of the pupils and the condition that they learn in. Once the paintwork of the building is completed the builders are getting a written plaque or writing on the wall outside to permanently commemorate and thank the MEHR foundation.
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MEHR MUTUAL CONCERN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2024
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FINANCIAL REVIEW
Financial position
Total incoming resources for the year amounted to £51,933 (2023: £50,838).
Total support costs and donations to fund students, educational institutes and other charities amounted to £47,431 (2023: £34,924).
Investment income increased by 2.2% from £50,838 to £51,933. This is a steady performance considering the Bank of England has kept interest rates at a high to reduce inflation in the economy. This has had a negative effect on investments, with the Ist cut in August 2024, to 5%. A lot of our investments are in investment trusts. They were able to distribute dividends, as they historically have revenue reserves to dip into when the economic climate is bad, to smooth out returns. We are seeing dividends being increased, so hopefully in the current year the income will increase. In addition, 10% of our investments have been moved to bond funds. This has had the effect of increasing our income and hedging against interest rate cuts.
Due to the stable income this year, our income reserves (based on 85% income available for donations) are stable despite increase in donations. Our reserves are £56,773 (2023: £58,816), which at our current expenditure level is just under 2 years’ worth ofrevenue reserves.
Interest income was up 262% £1,963 (2023: £543).
We aim to re-invest 15% of our income for future growth and as such we reinvested £13,354 of our income in the current year into new investments in our Hargreaves Lansdown investment account.
Investment policy and objectives
Mehr Mutual Concern is dependent on investment income generated from a portfolio of investments held at Hargreaves Lansdown. The charity does not benefit from local government grants and is solely dependent on its own fundraising.
Total assets now invested with Hargreaves Lansdown in a growth and income-focused portfolio spread across a number of funds (investment funds and investment trusts) and stocks for the year were up almost 2.6% to £1,000,095 (2023: £974,636).
The charity's funds have been applied as follows:
-
Donations to charities that support our objectives (6 charities in the current year)
-
Donations supporting school fees, uniforms, transport, books and stationery for 6 students (from class 6 to Masters year university)
-
Donations to TMT to fund hardship/scholarship funds for students across various degree colleges and universities in Lucknow including TMT institutes and Shia PG College and funding for classroom furniture
-
Donations to 'The Poor in Need: Sonar Bangla School' in Barohal, Sylhet, Bangladesh
-
Administration costs.
Reserves policy
It is our aim to hold reserves of 2 years of past expenditure on donations. In the medium term, the trustees wish to increase the charity's reserves to at least 3 years’ worth of activity. This will enable the charity to function without financial worry when we support students on 4 year degree courses. Only the donations/funding to support students directly and hardship/scholarship funding via the TMT are are considered when formulating the reserve policy. All other donations we make are discretionary based on income received in the year. Due to the increase in donations in the year our revenue has fallen to 2 years of reserves. The reserves policy will again be reviewed at the next AGM after we have a clearer picture of all our assets and income forecast from our investments.
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MEHR MUTUAL CONCERN REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2024
Scene
FUTURE PLANS
The charity remains cautious in the present financial climate that is being affected by the war in Ukraine and the events in the Middle East. We still aim to donate 85% of the income to good causes. Prudent management of our assets and the reserves we have built up should enable us to meet our future commitments.
In the current year a small project was undertaken as trustees decided to continue to build reserves. We will seek proposals from our trustees and the TMT for future donations. We will also consider the proposal for further funding, required for building work for the new school building, from 'Poor in Need’.
We will investigate rotating some investments to minimise risk, increase income and growth opportunities.
At the same time, this must be balanced with the available resources (especially the time of the volunteer trustees) to devote to further projects that we can audit. As mentioned, the charity encourages trustees to reach out to other charities to help those charities achieve projects that would have a significant impact in line with the charity's core objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The charity secks to have on its board members with the right skills set to enable it to be managed in an effective manner. Any new appointment is made at a properly constituted trustees' meeting or during the AGM.
Organisational structure
Essential administrative duties are carried out by the Chairman (Yasir Hussain), Secretary (Martin Lister) and Treasurer (Rajesh Saini). No fundraising activities are carried out by the charity. The trustees are all volunteers. All charitable commitments and donations are agreed at the AGM by the trustees, with the option to have extraordinary meetings if necessary (so far not realised). All cheques are signed off by at least two trustees.
Induction and training of new trustees
New trustees receive the necessary induction in regard to responsibilities, looking through the charity literature including recent accounts and minutes of trustees' meetings and finally meeting with existing trustees.
Risk management
The Trustees will continue to monitor and review the risk assessment process on an ongoing basis. This is discussed at the AGM as part of the analysis of the portfolio of investments and charitable commitments. In the opinion of the trustees there are adequate internal controls in place to cover any significant risks to the charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 1072561
Principal address
17 Mortimer Crescent Worcester Park Surrey KT4 7QL
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MEHR MUTUAL CONCERN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2024
a
Trustees
M Hussain
Mrs R Iqbal
D Iqbal
M Holland R Saini M Lister Ms O Hassim
A Moosvi PB Reynolds
Independent Examiner Gerald Bygraves
GB Accounting Solutions Limited Building 115 Bedford Technology Park Thurleigh
Bedford
Bedfordshire
MK44 2YA
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Approved by order ofthe board of trustees on LE.|.|eb and signed on its behalf by:
a
R Saini -¥
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SSSS— Page 7
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MEHR MUTUAL CONCERN Independent exAminer'5 report to the trusteu of Mehr Mutu41 Cone¢rn J rq)on to the charity trustee5 on my examination of the acc(KuJts of Mehr Mutual c(m) (the Tnt) for the year end¢d 31 December 2024. Responslbllltlcs and basis of report As the charity tnlstees of the Trust you are rwible for th¢ preparation of the accounts in accordance with the requiftments of the Charities Act 201 I Cthe ACV). I report in respect of my examination of the Tnjsl's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Direction5 given by the Charity Commission und¢r Section 145(5Xb) of the Act. Independent examlner's statement I have completed my examination. I confimi that no material matters have corne lo my attention in connecllon with the examination giving mc cause lo believe that in any material resp¢ct.' accounting records were not kept in respect of the Thist as required by Section 130 of the Act: or the accounls do not accord with those records. or the accounts do not comply with the applicable reqU1MentS concerning the fom and content of accounts set out in the Charities (Account$ and Reports) Regulations 2008 other than any requirement that the accounts give a trne nd fair view which is not a matter consi(kred &$ part of an independent examination. I have no concerns and have come acr055 no other matters in conne¢tion wlth the cxamination io which attention should be drawn in this rerM)rt in ordeT io enable a prop¢r understanding of the cOunts to be reached. aJfr- '- Gerald Bygraves GB Accounting Solutions Limited Building 115 Bedfrffd Technology P8Tk Thurleigh Bedford Bedfordshire MK44 2YA Page 8
MEHR MUTUAL CONCERN
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 December 2024
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|||||||
|---|---|---|---|---|---|
|ee|
|31.12.24|31.12.23|
|Unrestricted|Total|
|funds|funds|
|Notes|£|£|
|INCOME AND|ENDOWMENTS FROM|
|Investment income|2|51,933|50,838|
|EXPENDITURE|ON|
|Raising|funds|3|45|55|
|Charitable|activities|4|
|Social|welfare|and|education|46,187|34,870|
|Other|(15,606)|38,189|
|Total|30,626|73,114|
|NET INCOME/(EXPENDITURE)|21,307|(22,276)|
|RECONCILIATION|OF|FUNDS|
|Total funds brought forward|1,063,875|1,086,151|
|TOTAL|FUNDS|CARRIED FORWARD|1,085,182|1,063,875|
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The notes form part of these financial statements
See
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MEHR MUTUAL CONCERN
BALANCE SHEET
31 December 2024
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|---|---|---|---|---|
|See|
|31.12.24|31.12.23|
|Unrestricted|Total|
|funds|funds|
|Notes|£|£|
|FLXED ASSETS|
|Investments|9|1,000,095|974,636|
|CURRENT|ASSETS|
|Cash at bank|85,687|89,839|
|CREDITORS|
|Amounts|falling due within one year|10|(600)|(600)|
|NET CURRENT ASSETS|85,087|89,239|
|TOTAL ASSETS|LESS CURRENT|
|LIABILITIES|1,085,182|1,063,875|
|NET ASSETS|1,085,182|1,063,875|
|FUNDS|11|
|Unrestricted|funds|1,085,182|1,063,875|
|TOTAL FUNDS|1,085,182|1,063,875|
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The financial statements were approved by the Board of Trustees and authorised for issue on £6].2}- 224245. and were signed on its behalf by: R Saini z | rustee
The notes form part of these financial statements
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MEHR MUTUAL CONCERN
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 December 2024
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cashgeneratedfrom operations | l | (6,115) | 13,353 |
| Netcash(used in)/providedby operating activities | (6,115) | 13,353 | |
| Cash flows from investing activities | |||
| Interest received | 1,963 | 543 | |
| Netcash providedbyinvesting activities | 1,963 | 543 | |
| Change in cash and cash equivalents in | |||
| the reporting period | (4,152) | 13,896 | |
| Cash and cash equivalents at the | |||
| beginning ofthe reporting period | 89,839 | 75,943 | |
| Cash and cash equivalents atthe end of | |||
| thereportingperiod | 85,687 | 89,839 |
The notes form part of these financial statements
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MEHR MUTUAL CONCERN
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 December 2024
TTT Teen ee
1. RECONCILIATION OF NET INCOMEKEXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
2.
| OPERATING ACTIVITIES |
|||
|---|---|---|---|
| 31.12.24 | 31.12.23 | ||
| £ | £ | ||
| Netincome/(expenditure) forthe reportingperiod (asperthe | |||
| StatementofFinancial Activities) Adjustments for: |
21,307 | (22,276) | |
| (Gain)/losses oninvestments Interestreceived Decrease indebtors |
(25,459) (1,963) . |
26,097 (543) 10,075 |
|
| Netcash (used in)/provided byoperations | (6,115) | 13,353 | |
| ANALYSISOFCHANGES INNETFUNDS | |||
| At 1/1/24 | Cash flow | At31/12/24 | |
| £ | £ | £ | |
| Net cash | |||
| Cash atbank | 89,839 | (4,152) | 85,687 |
| 89,839 | (4,152) | 85,687 | |
| Total | 89,839 | (4,152) | 85,687 |
The notes form part of these financial statements
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MEHR MUTUAL CONCERN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2024
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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) (effective 1 January 2019), Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
- INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| Investments | 49,970 | 50,295 |
| Deposit account interest | 1,963 | 543 |
| 51,933 | 50,838 |
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MEHR MUTUAL CONCERN
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 December 2024
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|||||||
|---|---|---|---|---|---|
|OOOOaa|aaa.|2...|
|3.|RAISING|FUNDS|
|Raising|donations|and|legacies|
|31.12.24|31.12.23|
|£|£|
|Support costs|45|55|
|4.|CHARITABLE|ACTIVITIES|COSTS|
|Grant|
|funding of|
|activities|
|(see|note|
|5)|
|£|
|Social welfare and education|46,187|
|5.|GRANTS|PAYABLE|
|31.12.24|31.12.23|
|£|£|
|Social welfare and education|46,187|34,870|
|6.|SUPPORT COSTS|
|Management|Finance|Totals|
|£|£|£|
|Raising donations|and|legacies|33|12|45|
|7.|TRUSTEES'|REMUNERATION AND|BENEFITS|
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There were no trustees’ remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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||||
|---|---|---|
|Unrestricted|
|funds|
|£|
|INCOME AND ENDOWMENTS FROM|
|Investment income|50,838|
|EXPENDITURE|ON|
|Raising|funds|55|
|Charitable|activities|
|Social welfare and education|34,870|
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MEHR MUTUAL CONCERN
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 December 2024
| 8. | COMPARATIVES FORTHESTATEMENTOFFINANCIALACTIVITIES - continued | |
|---|---|---|
| Unrestricted | ||
| funds | ||
| £ | ||
| Other | 38,189 | |
| Total | 73,114 | |
| NETINCOMEKEXPENDITURE) | (22,276) | |
| RECONCILIATION OFFUNDS | ||
| Totalfundsbrought forward | 1,086,151 | |
| TOTALFUNDSCARRIEDFORWARD | 1,063,875 | |
| 9. | FIXED ASSET INVESTMENTS | |
| Listed | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1 January2024 | 974,636 | |
| Revaluations | 25,459 | |
| At 31 December2024 | 1,000,095 | |
| NETBOOKVALUE | ||
| At 31 December2024 | 1,000,095 | |
| At 31 December2023 | 974,636 | |
| There were no investment assets outside the UK. | ||
| Cost orvaluation at 31 December2024 is represented by: | ||
| Listed | ||
| investments | ||
| £ | ||
| Valuation in2020 | 968,300 | |
| Valuation in2021 | 22,488 | |
| Valuation in2022 | 9,945 | |
| Valuation in2023 | (26,097) | |
| Valuation in2024 | 25,459 | |
| 1,000,095 |
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MEHR MUTUAL CONCERN
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 December 2024
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|||||||||
|---|---|---|---|---|---|---|---|
|10.|CREDITORS:|AMOUNTS FALLING DUE WITHIN ONE YEAR|
|31.12.24|31.12.23|
|£|£|
|Other creditors|600|600|
|11.|MOVEMENT IN FUNDS|
|Net|Transfers|
|movement|between|At|
|At|1/1/24|in funds|funds|31/12/24|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|107,244|5,701|(13,354)|99,591|
|Founder's Legacy|956,631|15,606|13,354|985,591|
|1,063,875|21,307|-|1,085,182|
|TOTAL FUNDS|1,063,875|21,307|-|1,085,182|
|Net movement|in|funds,|included|in|the above are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|a|
|Unrestricted|funds|
|General|fund|51,933|(46,232)|5,701|
|Founder's|Legacy|-|15,606|15,606|
|51,933|(30,626)|21,307|
|TOTAL FUNDS|51,933|(30,626)|21,307|
|Comparatives|for movement|in|funds|
|Net|
|movement|At|
|At|1/1/23|in|funds|31/12/23|
|£|£|£|
|Unrestricted|funds|
|General fund|91,331|15,913|107,244|
|Founder's|Legacy|994,820|(38,189)|956,63|1|
|1,086,151|(22,276)|1,063,875|
|TOTAL FUNDS|1,086,151|(22,276)|1,063,875|
----- End of picture text -----
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MEHR MUTUAL CONCERN
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 December 2024
DE.SS. eee
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|50,838|(34,925)|15,913|
|Founder's|Legacy|-|(38,189)|(38,189)|
|50,838|(73,114)|(22,276)|
|TOTAL FUNDS|50,838|(73,114)|(22,276)|
----- End of picture text -----
A current year 12 months and prior year 12 months combined position is as follows:
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Net|Transfers|
|movement|between|At|
|At|1/1/23|in funds|funds|31/12/24|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|91,331|21,614|(13,354)|99,591|
|Founder's|Legacy|994,820|(22,583)|13,354|985,591|
|1,086,151|(969)|.|1,085,182|
|TOTAL FUNDS|1,086,151|(969)|-|1,085,182|
----- End of picture text -----
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|102,771|(81,157)|21,614|
|Founder's|Legacy|-|(22,583)|(22,583)|
|102,771|(103,740)|(969)|
|TOTAL FUNDS|102,771|(103,740)|(969)|
----- End of picture text -----
ee
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continued...
MEHR MUTUAL CONCERN
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 December 2024
Se
12, RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
ee
Page 18
MEHR MUTUAL CONCERN
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 December 2024
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||||||
|---|---|---|---|---|
|eSSS|SS|
|31.12.24|31.12.23|
|£|£|
|INCOME|AND ENDOWMENTS|
|Investment|income|
|Investments|49,970|50,295|
|Deposit account interest|1,963|543|
|51,933|50,838|
|Total incoming|resources|51,933|50,838|
|EXPENDITURE|
|Charitable|activities|
|Grants|to|individuals|46,187|34,870|
|Other|
|Gains/losses|on|investments|(15,606)|38,189|
|Support|costs|
|Management|
|Postage and stationery|33|44|
|Finance|
|Bank charges|12|11|
|Total|resources expended|30,626|73,114|
|Net income/(expenditure)|21,307|(22,276)|
----- End of picture text -----
This page does not form part of the statutory financial statements
ey
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