REGISTERED CHARITY NUMBER- 1079249 R• ort olthe Trustèes and Flnanclal Statements foT the Year Ended 5 A ril 2024 for arltable Trust Dunkley's Statutory Auditoi Charteied Accountants Woodlands Grange WDodlands Lane Bradley Stoke Bristol BS32 4JY
MPM Charltable Trust Contents of the Financial Statements orthe Year Ended 5 A rll 2024 Pag• Report ot the Trustees Rtport of iha Indèpendant Audltors Statemtnt ol Flnanclal Attlvlties Balance Sheet Cash Flow Slatem•nt Not•s to tho Cash Flow Statèmènt io Not•$ to th• Flnanclal Stat•m•nts li to 17 Detalled Statèment of Flnanclal Actlvltles 18
MPM Charitable frust ort of the Truste for the Year Ended 5 A ril 2024 the trLJStees present thelr report wlth the financial st3tements of the charity for the year ended S April 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in 6ccoidance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 (effective I january 20191. OBJECTIVES AND ACTIVITIES Oblèctlvès and alm5 The objects of the charity are to support humanitarian causes, many ol which will be connected with relIgn based enierprlses, together with athei deserving causes that the trustees deem appropriate. Provision of water, support for orphans and health educatlon feature high on the agenda. especially but not exclusively in Africa. Signlfitant actlvltles The trustees continue to look for scheme5 that fulfil the tTUSt's objectlves. The trustees meet to di4cu55 applications for donatlons and to agree the grant5 made by the trust. The grants awarded are for the public benefit. During 2023-24 they met 8 times (about every 6 to 7 weeks). Many of the donatlons were to charltleslcauses proviuu51y given to, plus a number which hawe been researched before bein8 given financial 5UPPOrt. Support wa5 also given, alter consideration, In response to natural di53Sters. Futur* Plans ThÈrÈ are no plans to change the way the trust operates. however, con51deration is belng given to recrultlng new trustees as part of successlon plannln8. Publlc B•n•flt The trustee5 confirm that they have referred to the guidance contalned In the Charity Commlssions general guidance on publlc benefit when revlèwlna the irstS alms ènd oblecrlves and setting ihe grant maklng pollcy for the year. The trusiees have due regard to the Charlty Commlsslon's guldante on publlc beneflt ACHIEVEMENT AND PERFORMANCE Charltabl• actlvltl•s In the rurrent year the trust has made donatlons, withln It5 alms and objectives, ttsralling £255,950 12022.23 £240,382). It has monitored the way In which these dDnatlons have been used, and the trustees are satisfled that good value has been obtalned from this expendlture. The trustee5 mainly supported projects that relieved some of the effects of poverty In Third World countrles. with an emphasls on Alrlca. In an attempl to help under privileged people, tlie trustees continued to identlfy charitable worthy causes that have low overheads, which has tended towards smaller charities that utilise volunteer5. They were also keen to support projects where tliey could be assured that physical checks were being carried out by trustworthy people. Ouringthe year, financial support has been given to orphanages, health centres, hospitals. and provision ol lertili5ers and clean water. No expenses were claimed with respect to travel & subsistence by trustees during the year12022-23- £nill. FINANCIALREVIEW Prlnclpal fundlng sources The princip31 source ol the trust'5 funds are donations received from McBraida PIC and investment Income. In the year ended 5 April 2024. Ihe trust Ilas received income from Investments and donatioi)s from McBiaida PIC and ha5 made various donations to a number ol different causes, mainly helping with the provision ol water, food, medical aid and education in areas ol the world where such resource5 ore scarce. Investment policy and oblertlves The capital value of the investment portfolio ol the trust should so lar as is reasonabSy possible be maintained in real term5 over time so s to pieserve the delivery of real benefits by way of distributlQn5 of incotne in accordance with the objects of the rrust. The Investment policy was reviewed by the trustees in September 2021. Page I
MPM Charitable Trust Re ort of the Trustees forthe Year Ended 5 A rll 2024 FINANCIAL REVIEW Rèserves ptsllty The trustees look to maintain reserves of Income that In their ab501ute dlscretion Is considered expedient in the best interests of the charity to discharge both actual and antlclpated expendlture by way ol grants or otherwise. As of 5 April 2024 £5,364,97612022-23 £5,032,273) unrestricted reserves were held. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The chaiitv 15 controlled by Its governing document, a deed of trust dated 22 November 1999 and constitutes an unlncorporated charity. Recrultment and appointment ol new trustÈes Trustees are appointed by the Board of Trustees. Trustees are alerted to changes In Charity Law through Dunkley's quarterly Charltv Update5 and are made aware ol the Charity Commission Guidance for Trustees on the GOV.UK website with which they are asked to make them5elve5 familiar. There have been no new trusrees In the past 8 years but new appolntments would be dlrected to TrusteElearning for on-line training. Related partle5 The followin8 trustees are director5 of McBraida Plc.. M P McBraida, K M Mc8ralda and I l McBraida. Rlsk manag•ment In line with the requirernent for trustees to undertake a rlsk assessnient exercise and report on the same In their annual report the Irvslees have considered these risks and identified the main areas where risks may occur. Having assessed the major risks to which the charlty Is exposed the trustee5 believe ihat by monitoring reservè levels, by ensurSng that controls exist over the key Ilnanclal systems, and by examlning the operatlonal and busine55 risks faced by the charity, they have e5tabllshed eflectlve systems to mili8ate those rlsks. REFERENCÉ AND ADMINISTRATIVE DETAILS RÉglster•d Charlty number 1079249 Prln¢lpal addres> Tresco 45 Church Lane Oownend South Glos BS16 6T8 Trustees M McBralda Mis K McBialda l J McBi3ld P W Taylor Iresi8ned 18.9.241 Ms l Blanchard M l Harper (appointed 18,9.241 Audltors Dunkley's Ststutory Auditor Chartered Accountants Woodlands Grange Woodlands Lane Bradley Stoke Bristol B532 4JY Page 2
MPM CharitableTrust orto for ihe Year Ended 5 Ap.rtl 2024 REFERENCE AND ADMINISTRATIVE DETAILS Bank services HSBC I Centenèry Square Birmingham BI IHO lrtvtstment mana8efS St James's Place Partnership Clifton Wealth Mana8ement Limited 49 Princess Vicioria Street Clifton 8584BX STATEMENT OF fRUSTEE5' RESPONSIBILITIES The tfusiees are responsible lor preparlng the Report of the Trustees and ihE financlal sratemenis in accordance with 3ppllc8ble law and United Kin8dorn Accountin8 Standards (United KSnEdorn fjenerally Accepted Accounring Practlcel. The lav4 Jpplicèble to charftles in England and Wales, the Charitie5 Act 2011, Charity IAccounts and Report51 Regulations 2008 and the provislons ol the trust deed requires the trustees to prepor¢ financial stèternonts lor eath financial year which 8ive a true 3nd fair view ol the srate ol aFfair5 of the charity and of the Incomin$ resources and èpplication of resources, including the Income and eKpenditUfe, of the charity lor that perlod. In preparing ihose financlal 51atempnis, the trustees are required to select 5Ult3ble 3ccountin8 polities and then apply them con51stentlv' observe the meihods and printiples In the Chariw SORP; make judgernents and estimates that are reasonable and prudeni,. state whether applicable a¢couniln8 Standards have been followed, subjèct to any materlal departures disclosed and explalned in the linanclal statemenis.. prepare the financial 5taternents on the 8oln8 concern basis unles5 it is inappropriaie to presume that the char5ty wlll continue In bu51ness. The tru51ees are responsible lor keeplng proper accounting records which disclose wilh reasonable atcuracy at any time ihe flnancial pasltlon of the ¢harity and 10 enable them to ensure that the financial statements comply th the Charities Act 2011, the Charity (Accounts and Report51 Re8u1aiions 2CN)8 and the provlslons ol the tru51 deed. They ère alsu responsible for safeguardin$ the assets gf the £harity ènd hence lor taklng reasonable steps lor the prevenrion and dotection of fraud and other irre8ularities, Approved by order ol the board of trustee5 On and slgned on its behdll by.. M5J Blanch3rd- Tiusiee P38e 3
ort of the Inde endent Auditor5 to the Trustees of MPM Charltable Trust Oplnlon We have audited the financial Statements of MPM Charltable Trust Ithe 'charity'l lor the year ended 5 April 2024 which comprise the Statement of Financial Activities, the Balance Sheet. the Cash Flow Statement and notes to the financial statements, including a summary o15ignificant accounting polici&s. The fir)ancial reporting framework that ha5 been applied in their preparation 15 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the flnan¢lal statement5'. give a true and lair view ol the state of the charity's affairs as at 5 Aprll 2024 and of its incoming resources and application of resources. for the year then ended., have been properly prepared in accordance wilh Uniied Kingdom Generally Accepted Accountlng Practlce,. and have been prepared in accordance with the requirements of the CharlrSes Act 2011. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI11SAs IUKII and applicable law. Our re5pon51bllilies under ihose standards are further described in the Auditois, responsibilities lor the audit of the Ilrnanci81 starements SÈCtion of our report. We are independent of the charity in accordance with the ethlcal requirements that are relevant to our audit of the financial statements in the UK, includin8 the FRC'S Ethical Standard, and we have fulfilled our othef ethical re5POll51bilities in accordance with these requlrements. We believe that the audlt evldence we have obtained 15 sufficient and approprlate to provlde a bas15 lor our opinion. Concluslons r•latlng to golng contèrn In auditin8 the financial statements, we have concluded that the tru5tees' use of the 8oin8 concern basis of accountlll8 in the preparatlon Of the finanrlal statements Ss approprlate. Based on the work we have performed, we have nor Ideniiiieij any maierlal uncertalnries relatlng to events or condltion5 that, indlvldually or colleciively, may cast slgnllicai)t doubt on the charitV'5 ability lo conllnue as a golrsg concern lor a perlod ol at least twelve month5 from when the financial statements are author15ed lor Issue. Our re5ponslbllltie5 and the responslbllltles of the trustee5 wlth respect to golng concern are described In the relevant secilons of this report. Othèr Infomatlon The trustees are responsible for the other information. The other Information comprlses the Information included in the Annual Report, other than the financial Statements and our Report ol the Independent Auditors thereon. Our opinlon on the financial statements does not cover the other Snformatlors and, except to the extent otherwise explicllly stated In our report, we do not express any form of assurance concluslon thereon. In connectlon wlth our audlt ol the Ilnanclal statements, our responslbillty Is to read the other Inlormatlon and. In dolng so, consider whether the other information Is materially inconslstent with the financlal statements or our knowledge obtained In the audit or orh@nlsQ 8pppars to be materlally nilsstated. If we Identlly such materlal Inconslstentles or apparent materlal mlsstatemenrs, we are required to determine whethor this givos ri5Q to a matErial mi5Statement tliÈ financial Statements themselves. 11, based on the work we have perforrned. we conclude that there Is a materlal rn155tatement of thls r)theT Informatlon, we are required to report that fact. We have nothing to report in th15 regard. atters on whlch we are requlred to report by éxceptlon We Iiave notliing to iepoil in respect ol the following rnalters where Ihe Charities (Account5 and Reports) Regulation5 2008 require5 115 to report to you if, in our opinion.. tlie information given ia Ihe Report ol tlie Trustees is inconsisteni In any materlal respect wilh the financial statemenls. or sulficient accounting records have i)ot been kept,. or the financial 5tatemenls are not in agreernent with Ihe 袢ounting record5 and returns,. or we have not received all the inlorrnation and explanations we require for our audit. R•sponslbllltl•s of trusto•s A5 explained more fully in the Statement of Tiustees, Responsibilities, the trustees are re5pon5ible for the pieparation of the financial 5t8tements whlch give a truè and fair view. and for Skjth Internal control as thÈ tiustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial sratements. the trustees are respon51ble foi assesslng the charity's ability to continue as a going concern, disclosing, as applic3ble, tn3tters ielate.d to going concern and using the going conce.rn basis of èccounting unle55 the tIU5tees elther intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Page 4
Re ort of the Inde endent Audltors to the Trustees of MPM CharltablÈ Trust Our respon51bllities for the audit of the financlal statements We have been appointed a5 auditors L5nder Section 144 of the Charities Act 2011 and report In accordance with the Act and relevant regtjlations made or having ettect thereunder. Our objectives are to obtain rea50nablE a55vrance about whethei the fin8ncial statements as a whole are free frotn tnaterlal mi5St31emenl, whether due to fraud or error. and to Issue a Report of the Independent Auditors that include5 our opinion. Reasonable assurance is a hiEh level ol assurance, but is not a guarantee that an audit condLJCted in accordance with ISA5 IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material If, individually or in the aggiegate, they iould rea50riably be expected to Influence ihe economlc decisions ol user5 taken on the basis ol these flnanclal statements. Extent to whlch the audlt was consldèred Capable of detectlng Irregularltles. Includlng fraud We Identlfy and assess the ilsks of material m15Statemenr of the flnanclal statements. whether due to fraud or error, and ihen desien and perform audit procedures responsive to those risks, Including obtaining audit evidence that Is sufficient and appropriate to provide a basls lor our opinlon. Identlfyln8 and as$essln8 Potentlal rlsk5 related to Irrègularltles In identifying and assessing risks of materlal misstatement in respect ol Irre8ularkies, Including fraud and non-compllance w5th laws and regulations, we consldered the lollowlng.. the nature ol the industry and sector, control environment and buslness performance Includin8 the design ol the company. remuneration policies, bonus leve15 and performance targets,. any matters we identified, having obtained and reviewed the company's documentatlon ol ihelr pollcles and procedures relating to.. o identifyin& evaluating and complying with laws and regulatlons and whether tliey were aware of any Instances of non-compliance,. o detecrinB and respondine io the rlsks ol fraud and whether they have knowledge of any actual, suspected or alleged fraud,. o the internal controls established to mitigate risks ol fraud or non-compliance wlth laws and regulations.. the matters d15CU5sed among rhe audir engagernenr team rÈgardlng how and where fraud mlght occur in the linanclal statemenis and any potential indicator5 of fraud. s a result ol these procedLires, we considered the opportunities and incentive5 that may exlst wlthln the oreanlsatlon IOT Iraud and identified the greatest potential for fraud In the areas ol management override ol controls. and revenue recognition. We also obtained an understanding ol the leRal ènd regulaiory framèwork that the coinpany operates in. focuslng on prov15Ions ol those laws and regulations that had a direct ellect on the determination of Inaterial ainounts and disclosures in the fiiiancial statements. Audlt response to risk5 Identlfled Our procedure5 to respond to risks identified included the following.. - Ènquirlng of managemeni, COnrnIn8 aciual and potential Iltlgation and claims,. performlng analytical procedure5 to identify any unusual or unexpected rolationship5 that may indicate risks ol material mi5Statement due to fraud,. in addressins the risk ol fraud through management override ol contro15, testing the approprlareness ol journal entries and olher adjustments,. aS5e5sing whether the jiJdgement5 rnade in m3king acctsuntine esrlmates are Indlcatlwe ol a potenrial bias; and e.valiJ8ting the buslness rationale of any slgnilicant transactions that are unusual or outside the normal course ol bu5ine55. We also communicated relevant idenlilied law5 and re8u1ations and potenilal Iraud risks lo all engagement tearn membe15, and remained alert to any indications of fraud or non-compllance with laws and regulations throughout the audit. A further description ol our responsibilities for the audit ol the financial statemernis Is located on the Financial Reporting Council'5 web51te at www.frc.Dig.uklauditoisresponsibilities. This description forms part ol our Report ol the Indepei)dent Auditor5. Page 5
ort ot the Inde tndent Audltors to the Trustees of MPM Charitable Trust Use of our report This report is made solely to the charity's trustees, as a body, In accordance with Part 4 of the Charitie5 (Account5 and Reportsl Regulations 2(K)8. Our audit work has been undertaken so that we might state to th8 charlty's trustee5 those matters we are required to state to them in an auditors, report and lor no other purpose. To the fullest extent perrnitt@d by law, we do not accept or assume responsibility to anyone other than the charity and the chaiity's trustees as a body, for our audit work, lor this report, or for the opinion5 we have formed. Dunkley's Statutory Auditor Chartered Arcouniants Woodlands Grange Woodlands Lane Bradley Stoke BS32 41Y Date: Page 6
MPM CharltableTrust Statement of Financial Activrties for the Year Ended 5 A ril 2024 5.4.24 Unrestricted fund 5.4.23 Total funds as restated Notes INCOME AND ENDOWMENTS FROM Oonations and legacies 3,CK)O 528,OCh) Investment incorne 45,426 10,679 Total 48,426 538,679 EXPENDITURE ON Raising funds 720 Charltable actItIo5 Relief of poverty Medical Aid Tralnlng and educatlon 106,950 62,700 86,300 129,060 45,500 65,822 Other 3,938 4,909 Total 260,608 245,291 Ner 8alns on Investments 544.885 68,610 NEf INCOME 332,703 361,998 RECONCILIATION OF FUNDS Tglal funds brought forward 5,032,273 4,670.275 TOTAL FUNDS CARRIED FORWARD 5,364,976 5.032,273 The notes form part of these financial statements Page 7
MPM thaable Trust Balance SheeL 5 April 2024 5.4.24 Unrestricted fund 5.4.23 Total lunds as rest&ted Notes FIXED ASSETS Investments 12 4,722,584 4,169,154 CURRENT ASSETS Cash at bank 646.712 886,119 CREDITORS Amounts fallina due wlthin one year 14,3201 123,0001 NET CURRENT ASS5 642,392 863,119 TOTAL ASSETS LESS CURRENT LIABILITIES 5,364,976 5,032.273 NET ASSETS 5.364,976 5,032.273 FUNDS Unrestricted funds 14 5.364.976 5,032,273 TOTAL FUNDS 5.364,976 5,032.273 The financlal statement5 were approved by the Board ol TiusleES Britj autliorised lor issue on Si8ned on its behalf by.. .i.IS and were J Blanchard- Trustee The notes form part of these financial statemenis Page 8
MPM Charitablè Trust C35h Flow StatÈment foT the Year Ended 5 A ril 2024 5.4.24 5.4.23 a5 restated Notes Cash flows from tsperatlng actlvltle5 Qsh 8enerated from operations 1276,2871 303.658 Net cash (used Inllprovlded by operatlng artlvltles 1276,2871 303,668 Cash flows from Investlng artlvltl•s Purchase ol fixed osset Invesirnent5 Sale of fixed asset Invesiments Intèrest received Dividends recelved 1131,1601 122.614 36,879 8,547 13,6751 7,004 3,674 Net cash provided by inve5tin8 activities 36,880 7,OJ3 Ctt3n8e in cash and cash equlvalénts In the rtportlng peilod Cash and cash equ5val•nts atth• b•glnnlng of th• r¢portlng perfod 1239,4071 310,671 886,119 575,448 Cash and cash equlvalentj at the end of the r•portln8 perlod 646,712 886,119 The notes form part of these financial statements Page 9
MPM Charitable Trust Notes to the Cash Flow Statement for the Year Ended 5A rll 2024 RECONCILIATION OF NEf INCOME TO NET CASH FLOW FROM OPERATING AcfiviTIES 5.4.24 5.4.23 as restated Net income for the reporting period las perthe Staternent of Financial Activltlès Adjustment5 for: Galn on investments Interest received Dividends received Decrease In debtors IDecreasel/incrEase in creditors 332,703 361,998 1544,8841 136.8791 18,5471 168.6101 17,0041 13,6741 976 19,982 118,6801 Net cash (used Inllprovlded by operatlons 1276.2871 303,668 ANALYSIS OF CHANGES IN NET FUND5 At 6.4.23 Cash flow At 5.4.24 Net cash Cash at bank 886,119 1239,4071 646,712 886,119 1239,4071 646,712 Tctal 886.119 1239,4071 646,712 The notes form part of these financial 5t3temeTrt5 Page 10
MPM Charitable frust Notes tD the Flnanc131 Staternen15 for the Year Ended 5 A ril 2024 ACCOUNTING POUCIES Bzsls of pr¢paringthe financial statements The financial 5tatetnents of the charity. which is a public benefit entlty under FRS 102. have been prepared in accordance wlth the Chailtles 50RP IFRS 1021 'Accountlng and Reporting by Chariries.. siatement of Recommended PiacticÈ appllcable to charities preparing their aCCL¥unts in accordance with the Financial Reporting St3ndard applicable in the UK and flepublic of Ireland IFRS 1021 (effective I january 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applKable in the UK and Republlc ol Ifeland, and the Chaiities Act 2flll. The financial statements have been piepaied under the hlstorlcal cost convention, with the exception of investment5 which a Included at market value. as modified by the revaluatlDn of certain a55etS. Incorne All incomels recognised in ihe Statemeni 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, ExpÈndlturé Liabilitie5 are reco8niged as expenditure as soon as there Is a leaal or constructive obligation committinB the ch8rlry to that expenditure, it 15 piobable that a transfer of economlc benefits will be required in settlement and the amouni ol the obligatlon can be measured reliably. Expenditure is accounted lor on an accruals bas1$ and has been classified under headinBS thal a88regale all ¢ost 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 ol Te50urces. Grants offered Subject to conditions which have not been met at the year end date are noted as a commitment but not acciued as expenditure. T•xatlon The charity is exèmpt from rax on its charltable actlvltles. Fund ac¢ountlni Unrestrlcted funds can be used In accordance with the charitable oblectlves at the discretion ol the trustees. Restricted funds can only be used for particular restricted purposes within the objects ol the charlty. Restrictions arise when speclfied by the donor or when funds are rèlsed for partlcular Testrlcted purpose5. Further explanatlon ol the nature aTrd purpose of each fund is included In the notes to the Ilnanclal statements. Donat•d iogds Any goods, utilities and services donated to to the charliy, excluding volunteers, are recognlsed as both donated income, and a rnatch1n8 expendlture or asset, Goods are valued measured at falr value, unless It Is Impractlcal to reliably measure the fair value ol ihe asset. Facllltles an6 seririte5 are measured at the value that rhe charlty would expect tD pay In the open rnarket lor an alternatlve thai would provide the same benefit. Page 11 continued...
MPM Charitable Trust Notes to the Flnanclal 5tatements- cont5nuèd for the Year Ended 5 A Ill 2024 DONATIONS AND LEGACIES 5.4.24 5.4.23 as restated Donations 3.0 528,000 INVESTMENT INCOME 5.4.24 5.4.23 as restated Other fixed a55et invest Fll Deptssit attount Inteie5t 8,547 36,879 3.674 7,OD5 45,426 10,679 RAISING FUNDS Investment mana4ement ¢0StS 5.4.24 5.4.23 5 restated Support costs 720 CHARITABLE ACTIVITIES COSTS Grant funding of Isee note 61 Relief ol poverty Medical Aid Trainin8 and education 106,950 62,700 86,300 255,950 GRANTS PAYABLE 5.4.24 5.4.23 a5 restated Relief ol poverly Medical Aid Tiaining and eduiation 106.950 62,700 86,300 129,060 45,500 65,822 255,950 240.382 All grants Issued during thls year and last were i55ued to otl)er charitable instriutions. Page 12 continued...
MPM Charitable Trust Notes to the Flnanclal Statements- Continued for the Year Ended 5 A ril 2024 SUPPORT COSTS Governan Finance costs Tota15 Investment management costs Other resources expended 720 3,600 720 3,938 338 338 4.320 ,658 TRUSTEES, REMUNERATION AND BENEFITS There were nts irustees, remuneiarion or other benefits for the year ended 5 April 2024 nor for the year ended 5 Aprll 2023. Try5tees' expenses The totsl value ol trustees, expenses15 Nil12023- Nill. STAFF COSTS There were no staff costs for the year ended S Apr112024 nor for the year ended 5 April 2023. The average number of employees during the year was Nil12023 Nill. No employees received emoluments In excess of £60.000. io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL A1VITIEs Unrestrl¢ted fund as rèstared INCOME AND ENDOWMENTS FROM Donations and le8a¢les 528.000 Investment Income 10,679 Total 538,679 EXPENDITURE ON Charltable actlvltlès Relief of poverty medlr.al Ald Tiaining and education 129.060 45.500 65,822 Other 4,909 Total 245,291 Net gain5 on investments 68,610 NET INCOME 361,998 RECONCILIATION OF FUNDS Total funds broughE forward 4,670,275 Page 13 continued...
MPM Charitable Trust Nctes to the Flnanclal 5tatements- ¢ontlnuèd for the Year Ended 5 A ril 2024 io. COMPARATIVES FOR THE STATEMENT OF FINANCIALAcfiviTIES- contlnued Unrestricted fund as restated TOTAL FUNDS CARRIED FORWARD 5,032,273 ii. PRIOR YEAR ADJUSTMENT Prior year adjustwent5 have been made to the corllparative to show a true and lair vlew ol fixed asset investments as at 5 April 2024. Thls Is due to an Investweni report bèing generaied at rhe intOTreci date. The adjusrments made are as followed.. l. Removal of relnvestment of dlsposed shares In Incorrect perlod: Account Listed investment additions Listed invesrment disposals Realised gain/llo55e51 on fixed asset investments Dr£ CrE 122,614 142,256 19,642 Total 142,256 142,256 Rernoval has occurred due to the disposal and relnvestmeni occurln8 on Ihe 17 May 2023. 2. Revaluatlon of flxed asset Inve5tment5 to the correct date.. Account Llsted Investmenis revaluatlons Realised 8ain/llossesl on fixed a55et investments DT£ Cr£ 143,924 143.924 Total 143,924 143,924 The adjusrment in reva1uati¢n5 has occurred to bring ihe valuation of investments in Ilne wlth the valuatlon held as at 5 April 2023. Therg are no tax impllcatlons raised In response to these adlustments. 12. FIXED Ass INVESTMENTS Listed Investments MARKET VALUE At 6 Ikpril 2023 Additioiis Disposals Revaliiations 4.169,154 131,160 1122,6151 544,885 At 5 April 2024 4,722,584 BOOK VALUE Al 5 Aprll 2024 4,722,584 At 5 April 2023 4,169.154 There were no investment assets outside the UK. Page 14 continued...
MPM ChartsableTrust Notes to the Financlal Statements- continued for the Year Ended 5 A ril 2024 12. FIXED ASSET INVESTMENTS. contlnued Cost or valuation at 5 April 2024 is represented by.. listed investment5 Valuation ITr 2018 Valuation in 2019 Valuation in 2020 Valuation 2021 Valuation in 2022 Valuation in 2023 Valuation in 2024 Cosi 863.756 290,156 221,574 176,1311 1731.5111 68.610 544,885 3,541,245 4,722,584 The valuatlon In 2018 01 £863.7561$ the occumulated valuation movement from 2006-2018. 13. CREDITORS:AMOUNTS FALLING DUEWHlN ONEYEAR 5.4.24 5.4.23 as restated Other creditors Accrued expenses 20,000 3,000 4,320 4,320 23,000 14. MOVEMENT IN FUNDS Net movement In funds At 5.4.24 At 6,Jl.23 Unr•strl¢t•d funds General fund 5,032.273 332,703 5,364,976 TOTAL FLINDS 5,032,273 332,703 5,364.976 Net movemeni In funds, Included in the above are a5 follows.. Incoming iesource5 Resources expended Gains and losses Movement in fund5 Unre5trtcted lunds General f(Jnd 48,426 1260,6081 544,885 332,703 TOTALFUNDS 48,426 1260,6081 544,885 332,703 Page 15 cor)tinued...
MPM Charitable Trust Notes to the Flnanclal Statements- contlnued for the YeaT Ended 5 A ril 2024 14. MOVEMENTIN FUNDS-contlnued Comparatives for movement in funds Net movement in funds At 5.4.23 At6.4.22 Unrestricted fundg General fund 4,670,275 361.998 5,032,273 TOTAL FUNDS 4.670,275 361.998 5,032,273 COparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Galns and losses Movement r5 funds Unre$trlrt•d funds General fund 538,679 1245,2911 68,610 361,998 TOTAL FUNDS 538,679 1245,291 | 68,610 361,998 A wrienl year 12 months and prlor year 12 months comblned positlon Is as follows: Net movement in funds At 5.4.24 At 6.4.22 Unrestrlcted funds General fund 4,670,275 694,701 5,364,976 TOTALFUNDS 4,670.275 694.701 5,364,976 A current year 12 months and prlor year 12 months comblned net movement In funds, Incliided In the above are as follows.. Incomlng resources Resources expeiided Galn5 and losses Movement In funds Unrestrlcted funds General fund 587,105 1505,8991 613,495 694,701 TOTALFUNDS 581,105 1505,8991 613,495 694,701 Page 16 continued...
MPM Charitable Trust Note5 tothe Financial Staternent5- contlnued forthe Year Ended 5 A ril 2024 15. RETED PARTY DISCLOSURES The charity received no monetary donations from Mc8raida PIC during the year12023 É525,0(X)l. Three ol the trustees are also directors of thls companv. The charlty received a donation in the form ol setvices. McBraida PIC settled the accountancy and audit feÈs for the charity- The value of the donation was £3,00012023 - £3,OLX)I. The total donation from McBraida Plc15 £3,00012023- E528,0001 The total value of tru5tees' expenses Is £NII12023- £Nill. There were no other transactions with trustees or any other related parties during the year. Page 17
MPM Charitable Trust Dttalled Statemènt of Flnanclal Actlvltles forthe Year Ended 5 A rll 2024 5.4.24 5.4.23 as Testated INCOME AND ENDOWMENTS Donatlons and legacles Donations 3,000 528,000 Investrnent Income Oiher fixed assei invest- Fll Deposit account interest .547 36,879 3.674 7,005 45.426 10,679 Total Incomlng resources 48,426 538,679 EXPENDITURE Char5table actlvltles Grants to institutions 255,950 240,382 Support CQSt5 Flnanc• Sundries Bank charges 976 333 338 338 1,309 Governan¢• costs Auditors, remunoration Audltors, remuneratlon for non audit work 3,600 720 3,600 4,320 3,600 Total resources expended 260,608 245.291 Net loxpendlturelllncome before galns and losses 1212,1821 293,388 R•allsed r•cognls•d 1n5 and10sses Reallsed 8aiiislll095esl on flxed asset Investments 544,885 68,610 Net Income 332,703 361,998 This page does not lorrn part ol the statutory financial statements Page 18