```
REGISTERED CHARITY NUMBER: 1079249
```
## **`Report of the Trustees and`**
```
Unaudited Financial Statements for the Year Ended 5 April 2021
```
```
for
```
## **`MPM Charitable Trust`**
```
Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY
```
```
MPM Charitable Trust
```
|**`Contents of the Financial Statements`**||||
|---|---|---|---|
|**`for the Year Ended 5 April 2021`**||||
|||**`Page`**||
|**`Report of the Trustees`**|`1`|`to`|`2`|
|**`Independent Examiner's Report`**||`3`||
|**`Statement of Financial Activities`**||`4`||
|**`Balance Sheet`**||`5`||
|**`Notes to the Financial Statements`**|`6`|`to`|`10`|
|**`Detailed Statement of Financial Activities`**||`11`||
```
MPM Charitable Trust
```
## **`Report of the Trustees for the Year Ended 5 April 2021`**
```
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended5April2021.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheir accountsin accordancewith the FinancialReportingStandardapplicablein the UK and Republicof Ireland(FRS 102)
(effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
```
Theobjectsofthecharityaretosupporthumanitariancauses,manyofwhichwillbeconnectedwithreligionbased enterprises,
togetherwithotherdeservingcausesthatthetrusteesdeemappropriate.Provisionofwater,supportfororphansand health
education feature high on the agenda, especially but not exclusively in Africa.
```
## **`Significant activities`**
```
Thetrusteescontinuetolookforschemesthatfulfilthetrust'sobjectives.Thetrusteesmeettodiscussapplicationsfor donations
and to agree the grants made by the trust. The grants awardedare for the public benefit.During 2020-2021they met about every 6
to7 weeks.Manyofthedonationsweretocharities/causeswehavegiventobeforeplusa numberwhichhavebeen researched,
andfollowedupwithfinancialsupport.TherewerealsoCovidrelatedappealsandnaturaldisasterswhichweconsidered and
supported.
```
## **`Public benefit`**
```
ThetrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharityCommissionsgeneralguidanceon public
benefit when reviewing the trusts aims and objectives and setting the grant making policy for the year.
```
```
The trustees have due regard to the Charity Commission’s guidance on public benefit
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Charitable activities`**
```
The trust has made donationswithinits aims and objectivestotalling£200,739(2020-£250,623).It has monitoredthe way in which
these donations have been used, and the trustees are satisfied that good value has been obtained from this expenditure.
The trusteesmainlysupportedprojectsthatrelievedsomeof the effectsof povertyin ThirdWorldcountries,withan emphasis on
Africa.
```
```
In an attempt to help under privilegedpeople,the trustees continuedto identifycharitableworthycauses that have low overheads,
whichhastendedtowardssmallercharitiesthatutilisevolunteers.Theywerealsokeentosupportprojectswheretheycould be
assured that physical checks were being carried out by trustworthy people.
```
```
During the year, financial support has been given to orphanages, health centres, hospitals, and provision of fertilisers.
```
```
No expenses were claimed with respect to travel & subsistence by trustees during the year (2020 £75)
```
## **`FINANCIAL REVIEW`**
## **`Principal funding sources`**
```
The principal source of the trust's funds are donations received from McBraida Plc and investment income.
```
```
Intheyearended5April2021,thetrusthasreceivedincomefrominvestmentsanddonationsfromMcBraidaPlcandhas made
variousdonationstoa numberofdifferentcauses,mainlyhelpingwiththeprovisionofwater,food,medicalaidandeducation in
areas of the world where such resources are scarce.
```
## **`Investment policy and objectives`**
```
Thecapitalvalueoftheinvestmentportfolioofthetrustshouldsofarasisreasonablypossiblebemaintainedinrealterms over
time so as to preserve the delivery of real benefits by way of distributions of income in accordance with the objects of the trust.
```
## **`Reserves policy`**
```
Thetrusteeslooktomaintainreservesofincomethatintheirabsolutediscretionisconsideredexpedientinthebestinterests of
the charity to discharge both actual and anticipated expenditure by way of grants or otherwise.
```
```
As of 5 April 2021, £4,785,907 unrestricted reserves were held.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustdated22November1999andconstitutesan unincorporated
charity.
```
```
Page 1
```
```
MPM Charitable Trust
```
## **`Report of the Trustees`**
## **`for the Year Ended 5 April 2021`**
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Recruitment and appointment of new trustees`**
```
Trustees are appointed by the Board of Trustees.
```
## **`Related parties`**
```
The following trustees are directors of McBraida Plc: M P McBraida, K M McBraida and I J McBraida.
```
## **`Risk management`**
```
In line with the requirementfor trusteesto undertakea risk assessmentexerciseand reporton the same in their annualreport the
trusteeshave consideredthese risks and identifiedthe main areas where risks may occur.Havingassessedthe majorrisks to which
thecharityisexposedthetrusteesbelievethatbymonitoringreservelevels,byensuringthatcontrolsexistoverthekey financial
systems,andbyexaminingtheoperationalandbusinessrisksfacedbythecharity,theyhaveestablishedeffectivesystems to
mitigate those risks..
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number`**
```
1079249
```
```
Principal address
Tresco
45 Church Lane
Downend
Bristol
South Glos
BS16 6TB
Trustees
M McBraida
Mrs K McBraida
I J McBraida
P W Taylor
Ms J Blanchard
```
```
Independent Examiner
Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY
```
## **`Investment managers`**
```
St James's Place Partnership
Clifton Wealth Management Limited
49 Princess Victoria Street
Clifton
Bristol
BS8 4BX
```
```
Approved by order of the board of trustees on 1 February 2022 and signed on its behalf by:
```
```
Ms J Blanchard - Trustee
```
```
Page 2
```
```
Independent Examiner's Report to the Trustees of
MPM Charitable Trust
```
## **`Independent examiner's report to the trustees of MPM Charitable Trust`**
```
IreporttothecharitytrusteesonmyexaminationoftheaccountsofMPMCharitableTrust(theTrust)fortheyear ended
5 April 2021.
```
## **`Responsibilities and basis of report`**
```
As the charitytrusteesof the Trust you are responsiblefor the preparationof the accountsin accordancewith the requirements of
the Charities Act 2011 ('the Act').
```
```
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheActandincarryingout my
examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
```
## **`Independent examiner's statement`**
```
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith the
examination giving me cause to believe that in any material respect:
```
`1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.`
```
I have no concernsand have come acrossno other mattersin connectionwith the examinationto which attentionshould be drawn
in this report in order to enable a proper understanding of the accounts to be reached.
```
```
Matthew Dobbins
```
```
FCA
Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY
```
```
1 February 2022
```
```
Page 3
```
```
MPM Charitable Trust
```
## **`Statement of Financial Activities for the Year Ended 5 April 2021`**
|`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
`Investment income`
`3`
**`Total`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`Relief of poverty`
`Medical Aid`
`Training and education`
`Other`
**`Total`**
`Net gains on investments`
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`TOTAL FUNDS CARRIED FORWARD`**|`5.4.21`
`Unrestricted`
`fund`
`£`
`200,000`
`30,561`
`230,561`
`130,920`
`41,000`
`28,819`
`3,775`
`204,514`
`357,286`
`383,333`
`4,418,772`
`4,802,105`|`5.4.20`
`Total`
`funds`
`£`
`478,600`
`39,070`|
|---|---|---|
|||`517,670`
`123,123`
`56,000`
`71,500`
`2,581`|
|||`253,204`
`266,499`|
|||`530,965`
`3,887,807`|
|||`4,418,772`|
```
The notes form part of these financial statements
```
```
Page 4
```
```
MPM Charitable Trust
```
## **`Balance Sheet`**
## **`5 April 2021`**
|`Notes`
**`FIXED ASSETS`**
`Investments`
`7`
**`CURRENT ASSETS`**
`Debtors`
`8`
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`9`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`10`
`Unrestricted funds`
**`TOTAL FUNDS`**|`5.4.21`
`Unrestricted`
`fund`
`£`
`4,357,891`
`976`
`449,856`
`450,832`
`(6,618)`
`444,214`
`4,802,105`
`4,802,105`
`4,802,105`
`4,802,105`|`5.4.20`
`Total`
`funds`
`£`
`3,930,938`
`976`
`533,258`|
|---|---|---|
|||`534,234`
`(46,400)`|
|||`487,834`|
|||`4,418,772`|
|||`4,418,772`|
|||`4,418,772`|
|||`4,418,772`|
```
The financialstatementswere approvedby the Boardof Trusteesand authorisedfor issue on 1 February2022 and were signed on
its behalf by:
```
```
J Blanchard - Trustee
```
```
The notes form part of these financial statements
```
```
Page 5
```
```
MPM Charitable Trust
```
```
Notes to the Financial Statements
```
```
for the Year Ended 5 April 2021
```
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharity,whichisa publicbenefitentityunderFRS102,havebeenpreparedin accordance
withthe CharitiesSORP(FRS102)'Accountingand Reportingby Charities:Statementof RecommendedPractice applicable
to charitiespreparingtheir accountsin accordancewith the FinancialReportingStandardapplicablein the UK and Republic
ofIreland(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshavebeen prepared
under the historicalcost convention,with the exceptionof investmentswhich are includedat marketvalue,as modified by
the revaluation of certain assets.
```
## **`Income`**
```
All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable
that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesare recognisedas expenditureas soon as there is a legal or constructiveobligationcommittingthe charityto that
expenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamountof the
obligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticular headings
they have been allocated to activities on a basis consistent with the use of resources.
```
```
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasacommitmentbut 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.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.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.
```
## **`Donated goods`**
```
Anygoods,utilitiesandservicesdonatedtotothecharity,excludingvolunteers,arerecognisedasbothdonated income,
and a matching expenditure or asset.
```
```
Goods are valued measured at fair value, unless it is impractical to reliably measure the fair value of the asset.
```
```
Facilitiesand servicesare measuredat the value that the charitywouldexpect to pay in the open marketfor an alternative
that would provide the same benefit.
```
## **`2. DONATIONS AND LEGACIES`**
|**`DONATIONS AND LEGACIES`**|||
|---|---|---|
||`5.4.21`|`5.4.20`|
||`£`|`£`|
|`Donations`|`200,000`|`478,600`|
```
continued...
```
```
Page 6
```
```
MPM Charitable Trust
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 5 April 2021`**
## **`3. INVESTMENT INCOME`**
|**`INVESTMENT INCOME`**|||
|---|---|---|
||`5.4.21`|`5.4.20`|
||`£`|`£`|
|`Other fixed asset invest - FII`|`29,667`|`36,992`|
|`Deposit account interest`|`894`|`2,078`|
||`30,561`|`39,070`|
## **`4. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended5April2021norfortheyear ended
5 April 2020.
```
## **`Trustees' expenses`**
```
Duringtheyearthetrusteeswerereimbursedexpensesincurredfortravelandsubsistenceforameetingwith the
charitable executives of a charity in receipt of grants from MPM Charitable Trust.
```
```
The total value of trustees' expenses is Nil (2020 - £75).
```
## **`5. STAFF COSTS`**
```
There were no staff costs for the year ended 5 April 2021 nor for the year ended 5 April 2020.
```
```
The average monthly number of employees during the year was as follows:
```
```
5.4.215.4.20
```
```
No employees received emoluments in excess of £60,000.
```
## **`6.`**
## **`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**||
|---|---|
||`Unrestricted`|
||`fund`|
||`£`|
|**`INCOME AND ENDOWMENTS FROM`**||
|`Donations and legacies`|`478,600`|
|`Investment income`|`39,070`|
|**`Total`**|`517,670`|
|**`EXPENDITURE ON`**||
|**`Charitable activities`**||
|`Relief of poverty`|`123,123`|
|`Medical Aid`|`56,000`|
|`Training and education`|`71,500`|
|`Other`|`2,581`|
|**`Total`**|`253,204`|
|`Net gains on investments`|`266,499`|
|**`NET INCOME`**|`530,965`|
|**`RECONCILIATION OF FUNDS`**||
|**`Total funds brought forward`**|`3,887,807`|
```
continued...
```
```
Page 7
```
```
MPM Charitable Trust
```
|**`Notes to the Financial Statements- continued`**
**`for the Year Ended 5 April 2021`**
**`6.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`7.`**
**`FIXED ASSET INVESTMENTS`**
**`MARKET VALUE`**
`At 6 April 2020`
`Additions`
`Disposals`
`Revaluations`
`At 5 April 2021`
**`NET BOOK VALUE`**
`At 5 April 2021`
`At 5 April 2020`
`There were no investment assets outside the UK.`
`Cost or valuation at 5 April 2021 is represented by:`
`Valuation in 2021`
`Cost`
**`8.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`5.4.21`
`£`
`Other debtors`
`976`|`Unrestricted`
`fund`
`£`
`4,418,772`
`Listed`
`investments`
`£`
`3,930,938`
`1,973,657`
`(1,470,573)`
`(76,131)`
`4,357,891`
`4,357,891`
`3,930,938`
`Listed`
`investments`
`£`
`(76,131)`
`4,434,022`
`4,357,891`
`5.4.20`
`£`
`976`|
|---|---|
```
continued...
```
```
Page 8
```
```
MPM Charitable Trust
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 5 April 2021`**
## **`9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|`Trade creditors`
`Other creditors`
`Accrued expenses`
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Unrestricted funds`**
`General fund`
`230,561`
**`TOTAL FUNDS`**
`230,561`|`At 6.4.20`
`£`
`4,418,772`
`4,418,772`
`Resources`
`expended`
`£`
`(204,514)`
`(204,514)`|`5.4.21`
`£`
`3,600`
`618`
`2,400`
`6,618`
`Net`
`movement`
`in funds`
`£`
`383,333`
`383,333`
`Gains and`
`losses`
`£`
`357,286`
`357,286`|`5.4.20`
`£`
`-`
`44,000`
`2,400`
`46,400`
`At`
`5.4.21`
`£`
`4,802,105`|`5.4.20`
`£`
`-`
`44,000`
`2,400`
`46,400`
`At`
`5.4.21`
`£`
`4,802,105`|
|---|---|---|---|---|
||||`4,802,105`||
||||`Movement`
`in funds`
`£`
`383,333`
`383,333`||
|||||`383,333`|
```
10.MOVEMENT IN FUNDS
```
## **`Comparatives for movement in funds`**
|`At 6.4.19`
`£`
**`Unrestricted funds`**
`General fund`
`3,887,807`
**`TOTAL FUNDS`**
`3,887,807`
`Comparative net movement in funds, included in the above are as follows:`
`Incoming`
`Resources`
`resources`
`expended`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`517,670`
`(253,204)`
**`TOTAL FUNDS`**
`517,670`
`(253,204)`|`Net`
`movement`
`in funds`
`£`
`530,965`
`530,965`
`Gains and`
`losses`
`£`
`266,499`
`266,499`|`At`
`5.4.20`
`£`
`4,418,772`|`At`
`5.4.20`
`£`
`4,418,772`|
|---|---|---|---|
|||`4,418,772`||
|||`Movement`
`in funds`
`£`
`530,965`
`530,965`||
||||`530,965`|
```
continued...
```
```
Page 9
```
```
MPM Charitable Trust
```
```
Notes to the Financial Statements - continued
```
## **`for the Year Ended 5 April 2021`**
## **`10. MOVEMENT IN FUNDS - continued`**
```
A current year 12 months and prior year 12 months combined position is as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 6.4.19`
`£`
`3,887,807`
`3,887,807`|`Net`
`movement`
`in funds`
`£`
`914,298`
`914,298`|`At`
`5.4.21`
`£`
`4,802,105`|
|---|---|---|---|
||||`4,802,105`|
```
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`748,231`
`748,231`|`Resources`
`expended`
`£`
`(457,718)`
`(457,718)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`623,785`
`914,298`
`623,785`
`914,298`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`623,785`
`914,298`
`623,785`
`914,298`|
|---|---|---|---|---|
|||||`914,298`|
## **`11. RELATED PARTY DISCLOSURES`**
```
The charityreceiveda donationof £200,000duringthe yearfromMcBraidaPlc(2020£475,000).Threeof the trustees are
also directors of this company.
```
```
The charitywas in receiptof a donationfromMcBraidaPlc by way of paymentof expenditureincurredby the charity. This
donation was valued at Nil (2020 - £3,600).
```
```
During the previousyear the trusteeswere reimbursedexpensesincurredfor traveland subsistencefor a meetingwith the
charitableexecutivesofacharityinreceiptofgrantsfromMPMCharitableTrust.Notrusteesexpenseswere incurred
during this year.
```
```
The total value of trustees' expenses is £Nil (2020 - £75).
```
```
There were no other transactions with trustees or any other related parties during the year.
```
```
Page 10
```
```
MPM Charitable Trust
```
## **`Detailed Statement of Financial Activities`**
## **`for the Year Ended 5 April 2021`**
|**`Detailed Statement of Financial Activities`**
**`for the Year Ended 5 April 2021`**|||
|---|---|---|
||`5.4.21`|`5.4.20`|
||`£`|`£`|
|**`INCOME AND ENDOWMENTS`**|||
|**`Donations and legacies`**|||
|`Donations`|`200,000`|`478,600`|
|**`Investment income`**|||
|`Other fixed asset invest - FII`|`29,667`|`36,992`|
|`Deposit account interest`|`894`|`2,078`|
||`30,561`|`39,070`|
|**`Total incoming resources`**|`230,561`|`517,670`|
|**`EXPENDITURE`**|||
|**`Charitable activities`**|||
|`Grants to institutions`|`200,739`|`250,623`|
|**`Support costs`**|||
|**`Management`**|||
|`Travel and subsistence`|`-`|`75`|
|**`Finance`**|||
|`Bank charges`|`175`|`106`|
|**`Governance costs`**|||
|`Auditors' remuneration`|`3,600`|`2,400`|
|`Total resources expended`|`204,514`|`253,204`|
|**`Net income before gains and losses`**|`26,047`|`264,466`|
|**`Realised recognised gains and losses`**|||
|`Realised gains/(losses) on fixed asset investments`|`357,286`|`266,499`|
|**`Net income`**|`383,333`|`530,965`|
```
This page does not form part of the statutory financial statements
```
```
Page 11
```