g
REGISTERED CHARITY NUMBER: 1079249
Report of the Trustees and
Financial Statements for the Year Ended Sth April 2025
for
MPM Charitable Trust
Dunkley's Statutory Auditor Chartered Accountants Woodlands Grange Woodlands Lane Bradley Stoke Bristol , BS32 4]Y
MPM Charitable Trust
Contents of the Financial Statements for the Year Ended 5th April 2025
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Report of the Trustees 1 to 3
Report of the Independent Auditors 4 to 6
Statement of Financial Activities 7
Balance Sheet 8
Cash Flow Statement 9
Notes to the Cash Flow Statement ; 10
Notes to the Financial Statements 11 to 17
Detailed Statement of Financial Activities 18
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MPM Charitable Trust
Report of the Trustees
for the Year Ended 5th April 2025
The trustees present their report with the financial statements of the charity for the year ended Sth April 2025. 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 objects of the charity are to support humanitarian causes, many of which will be connected with religion based enterprises, together with other deserving causes that the trustees deem appropriate. Provision of water, support for orphans and health education feature high on the agenda, especially but not exclusively in Africa.
Significant activities
The trustees continue to look for schemes that fulfil the trust's objectives. The trustees meet to discuss applications for donations and to agree the grants made by the trust. The grants awarded are for the public benefit. During 2024-25 they met 8 times (about every 6 to 7 weeks). Many of the donations were to charities/causes previously given to, plus a number which have been researched before being given financial support. Support was also given, after consideration, in response to natural disasters.
Future Plans
There are no plans to change the way the trust operates, however, consideration is being given to recruiting new trustees as part of succession planning.
Public Benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commissions general guidance on 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
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
In the current year the trust has made donations, within its aims and objectives, totalling £289,779 (2023-24 - £255,950). It has monitored the way in which these donations have been used, and the trustees are satisfied that good value has been obtained from this expenditure.
The trustees mainly supported projects that relieved some of the effects of poverty in Third World countries, with an emphasis on Africa. In an attempt to help under privileged people, the trustees continued to identify charitable worthy causes that have low overheads, which has tended towards smaller charities that utilise volunteers. They were also keen to support projects where they could 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][and][clean][water.]
No expenses were claimed with respect to travel & subsistence by trustees during the year {2023-24 - £nil).
FINANCIAL REVIEW
Principal funding sources
The principal source of the trust's funds are donations received from McBraida Plc and investment income.
In the year ended 5 April 2025, the trust has received income from investments and donations from McBraida Plc and has made various donations to a number of different causes, mainly helping with the provision of water, food, medical aid and education in areas of the world where such resources are scarce.
Investment policy and objectives
The capital value of the investment portfolio of the trust should so far as is reasonably possible be maintained in real terms 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.
The Investment policy was reviewed by the trustees in September 2021.
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MPM Charitable Trust
Report of the Trustees
for the Year Ended 5th April 2025
FINANCIAL REVIEW
Reserves policy
The trustees look to maintain reserves of income that in their absolute discretion is considered expedient in the best interests of the charity to discharge both actual and anticipated expenditure by way of grants or otherwise.
As of 5 April 2025 £5,402,981 (2024 - £5,364,976) unrestricted reserves were held.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust dated 22 November 1999 and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
Trustees are appointed by the Board of Trustees. Trustees are alerted to changes in Charity Law through Dunkley's quarterly Charity Updates and are made aware of the Charity Commission Guidance for Trustees on the GOV.UK website with which they are asked to make themselves familiar. There have been no new trustees in the past 8 years but new appointments would be directed to TrusteElearning for on-line training.
Related parties
The following trustees are directors of McBraida Plc: M P McBraida, K M McBraida and | J McBraida.
Risk management
In line with the requirement for trustees to undertake a risk assessment exercise and report on the same in their annual report the trustees have considered these risks and identified the main areas where risks may occur. Having assessed the major risks to which the charity is exposed the trustees believe that by monitoring reserve levels, by ensuring that controls exist over the key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 1079249
Principal address Tresco 45 Church Lane Bownend Bristol South Glos BS16 6TB
Trustees
M McBraida
Mrs K McBraida
|J McBraida PW Taylor (resigned 18.9.24)} MsJ Blanchard MJ Harper (appointed 18.9.24)
Auditors
Dunkley's
Statutory Auditor Chartered Accountants
Woodlands Grange Woodlands Lane Bradley Stoke Bristol BS32 4JY
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MPM CharitableTrust
Report of the Trustees for the Year Ended 5th April 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Bank services
HSBC 1 Centenary Square Birmingham B11HO
investment managers
St James's Place Partnership
Clifton Wealth Management Limited
49 Princess Victoria Street Clifton Bristol BS8 4BX
STATEMENTOF TRUSTEES’. RESPONSIBILITIES
The trustees are respansible far preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial staternents for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable taw}.
Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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~ select suitable accounting policies and then apply them cansistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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- ~ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keaping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity {Accounts and Reports) Regulations 2008. They are aiso responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on sou NBu 2 DS and signed on its behalf by:
Ms J emai ~ Trustee
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Report of the Independent Auditors to the Trustees of
MPM Charitable Trust
Opinion
We have audited the financial statements of MPM Charitable Trust (the 'charity'} for the year ended 5th April 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at Sth April 2025 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs {UK)} and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or coltectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. :
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not caver the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in daing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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Report of the Independent Auditors to the Trustees of
MPM Charitable Trust
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Extent to which the audit was considered capable of detecting irregularities, including fraud
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
Identifying and assessing potential risks refated to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: - the nature of the industry and sector, control environment and business performance including the design of the charities remuneration policies, bonus levels and performance targets; - any matters we identified, having obtained and reviewed the charities documentation of their policies and procedures relating to: o identifying, evaluating and complying with laws and regulations and whether they were aware of[any][instances][of][ non-compliance;] o detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; o the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; - the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the areas of management override of controls, and revenue recognition. We also obtained an understanding of the legal and regulatory framework that the charities operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements.
Audit response to risks identified ;
Our procedures to respond to risks identified included the following:
- enquiring of management, concerning actual and potential litigation and claims; - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; - in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
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Report of the Independent Auditors 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 Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
ve(g 6 Dunkley‘s cm Statutory Auditor Chartered Accountants Woodlands Grange Woodlands Lane Bradley Stoke Bristol BS32 4JY
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MPM Charitable Trust
Statement of Financial Activities
for the Year Ended 5th April 2025
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|---|---|---|---|---|---|
|5.4.25|5.4.24|
|Unrestricted|Total|
|fund|funds|
|Notes|£|£|
|INCOME AND|ENDOWMENTS|FROM|
|Donations|and|legacies|2|379,260|3,000|
|Investment income|3|60,504|45,426|
|Total|439,764|48,426|
|EXPENDITURE|ON|.|
|Raising|funds|4|408|720|
|Charitable|activities|5|
|Relief|of poverty|161,279|106,950|
|Medical|Aid|52,000|62,700|
|Training and education|76,500|86,300|
|Other|4,512|3,938|
|Total|294,699|260,608|
|Net gains/(losses)|on investments|(107,060)|544,885|
|NET INCOME|38,005|332,703|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|5,364,976|5,032,273|
|TOTAL FUNDS|CARRIED|FORWARD|5,402,981|5,364,976|
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The notes form part of these financial statements
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MPM Charitable Trust
Balance Sheet 5th April 2025
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|5.4.25|5.4.24|
|Unrestricted|Total|
|fund|funds|
|Notes|£|£|
|FIXED|ASSETS|
|Investrnents|12|4,637,376|4,722,584|
|CURRENT ASSETS|
|Cash|at bank|770,177|646,712|
|CREDITORS|
|Amounts|falling due within one year|13|(4,572)|(4,320)|
|NET CURRENT ASSETS|765,605|642,392|
|TOTAL ASSETS LESS CURRENT|LIABILITIES|5,402,981|5,364,976|
|NET|ASSETS|5,402,981|5,364,976|
|FUNDS|14|
|Unrestricted|funds|5,402,981|5,364,976|
|TOTAL FUNDS|5,402,981|5,364,976|
|The|financial|statements|were|approved|by the|Board|of Trustees|and|authorised|for|issue on referees|and|were|
|signed on|its|behalf by:|
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J Blanchardef
The notes form part of these financial statements
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MPM Charitable Trust
Cash Flow Statement for the Year Ended Sth April 2025
| 5.4.25 | 5.4.24 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| Cash flowsfrom operating activities | ||||
| Cash generatedfrom operations | a | {261,220} | {276,287} | |
| Net cash used in operating activities | (261,220) | (276,287) | ||
| Cash flowsfrom investing activities | ||||
| Purchase offixed assetinvestments | (444,889) | (131,160) | ||
| Sale offixed asset investments | 769,070 | 122,614 | ||
| Interest received | 38,652 | 36,879 | ||
| Dividends received | 21,852 | 8,547 | ||
| Net cash provided by investingactivities | 384,685 | 36,880 | ||
| Change in cashand cash equivalents inthe | ||||
| reporting period | 123,465 | (239,407} | ||
| Cash and cash equivalents atthe beginningofthe | , | |||
| reporting period | 646,712 | 886,119 | ||
| Cash and cash equivalents attheend of the | ||||
| reportingperiod | 770,177 | 646,712 |
The notes form part of these financial statements
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MPM Charitable Trust
Notes to the Cash Flow Statement for the Year Ended 5th April 2025
1, RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| RECONCILIATION OF NET INCOME TONET INCOME TOINCOME TOTO NET CASH FLOW FROM OPERATING ACTIVITIES | ||
|---|---|---|
| 5.4.25 | 5.4.24 | |
| £ | £ | |
| Netincome forthe reporting period (as perthe Statement of Financial Activities) | 38,005 | 332,703 |
| Adjustments for: | ||
| Gain on investments | (238,973) | (544,884) |
| Interest received | (38,652) | (36,879) |
| Dividends received | {21,852} | (8,547) |
| Increase/(decrease} in creditors | 252 | (18,680) |
| Netcashusedinoperations | (261,220} | (276,287) |
- ANALYSIS OF CHANGES IN NET FUNDS
| At 6/4/24 | Cash flow | At5/4/25 | ||
|---|---|---|---|---|
| £ | £ | £ | ||
| Netcash | ||||
| Cash atbank | 646,712 | 123,465 | 770,177 | |
| : | 646,712 | 123,465 | 770,177 | |
| Total | 646,712 | 123,465 | 770,177 |
The notes form part of these financial statements
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MPM Charitable Trust
Notes to the Financia! Statements for the Year Ended Sth April 2025
- 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}', Financia! 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.
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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.
Donated goods Any goods, utilities and services donated to the charity, excluding volunteers, are recognised as both donated income, and a matching expenditure or asset.
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Goods are valued measured at fair value, unless it is impractical to reliably measure the fair value of the asset.
Facilities and services are measured at the value that the charity would expect to pay in the open market for an alternative that would provide the same benefit.
Fixed asset investments
Investments are initially recognised at cost and subsequently measured at fair value at the reporting date. Fair value is determined by reference to quoted market prices in an active market or, where such prices are unavailable, by using valuation techniques appropriate to the investment type.
Investment income, including dividends and interest, is recognised receivable.
in the Statement of Financial Activities (SoFA} when
Realised gains and losses on investments are calculated as the difference between the sale proceeds and the carrying amount at the last reporting date. Unrealised gains and losses represent the movement in fair value during the year on investments still held at the reporting date.
Both realised and unrealised gains and losses are recognised in the SoFA under the heading “Net gains/{losses) on investments".
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MPM Charitable Trust
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Notes to the Financial Statements - continued for the Year Ended 5th April 2025
1. ACCOUNTING POLICIES - continued
Fixed asset investments
Cash and cash equivalents
Cash and cash equivalents comprise of cash at bank and deposits that are repayable on demand or have an original maturity of three months or less. These balances are held to meet short term cash commitments and are stated at their nominal value. For the purposes of the Cash Flow Statement, cash and cash equivalents are the amounts shown as cash at bank in the balance sheet.
| 2. | DONATIONSAND LEGACIES | ||
|---|---|---|---|
| 5.4.25 | 5.4.24 | ||
| £ | £ | ||
| Donations | 379,260 | 3,000 | |
| 3. | INVESTMENT INCOME | ||
| 5.4.25 | 5.4.24 | ||
| £ | £ | ||
| Other fixed asset invest - Fil | 21,852 | 8,547 | |
| Deposit account interest | 38,652 | 36,879 | |
| 60,504 | 45,426 | ||
| 4. | RAISING FUNDS | ||
| Raisingdonations and legacies | |||
| 5.4.25 | 5.4.24 | ||
| £ | £ | ||
| Support costs | 408 | - | |
| Investment managementcosts | |||
| 5.4.25 | 5.4.24 | ||
| £ | £ | ||
| Support costs | - | 720 | |
| Aggregateamounts | 408 | 720 |
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MPM Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5th April 2025
5. CHARITABLE ACTIVITIES COSTS
| 5. | CHARITABLE ACTIVITIES COSTS | |||
|---|---|---|---|---|
| Grant | ||||
| funding of | ||||
| activities | ||||
| (seenote | ||||
| 6) | ||||
| £ | ||||
| Relief ofpoverty | 161,279 | |||
| Medical Aid | 52,000 | |||
| Training andeducation | 76,500 | |||
| 289,779 | ||||
| 6. | GRANTS PAYABLE | |||
| 5.4.25 | 5.4.24 | |||
| . | £ | £ | ||
| Relief ofpoverty | 161,279 | 106,950 | ||
| Medical Aid | 52,000 | 62,700 | ||
| Trainingand education | 76,500 | 86,300 | ||
| 289,779 | 255,950 | |||
| All grants issued during thisyearand fastwere issuedtoother charitable institutions. | ||||
| 7. | SUPPORTCOSTS | |||
| Governance | ||||
| Finance | costs | Totals | ||
| £ | £ | £ | ||
| Raising donations and legacies | 408 | - | 408 | |
| Other resourcesexpended | - | 4,512 | 4,512 | |
| 408 | 4,512 | 4,920 | ||
| 8. | AUDITORS' REMUNERATION | |||
| 5.4.25 | 5.4.24 | |||
| £ | £ | |||
| Fees payable to the charity's auditors forthe audit ofthe charity's financial statements | 3,720 | 3,600 | ||
| Auditors' remuneration for non auditwork | 792 | 720 | ||
| Totalfeespayable | 4,512 | 4,320 |
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MPM Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5th April 2025
9. TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5th April 2025 nor for the year ended 5th April 2024.
Trustees’ expenses
The total value of trustees' expenses is Nil (2024 - Nil}.
- STAFF COSTS
:
There were no staff costs for the year ended 5 April 2025 nor for the year ended 5 April 2024.
The average number of employees during the year was Nil (2024 - Nil).
No employees received emoluments in excess of £60,000.
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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|||||
|---|---|---|---|
|Unrestricted|
|fund|
|£|
|INCOME AND|ENDOWMENTS|FROM|
|Donations|and|legacies|3,000|
|Investment|income|.|45,426|
|Total|48,426|
|EXPENDITURE|ON|
|Raising funds|720|
|Charitable|activities|
|Relief|of poverty|106,950|
|Medical|Aid|62,700|
|Training and|education|86,300|
|Other|3,938|
|Total|260,608|
|Net gains on|investments|544,885|
|NET|INCOME|332,703|
|TotalRECONCILIATIONfunds brought forwardOF FUNDS|:|5,032,273|
|TOTAL FUNDS|CARRIED|FORWARD|5,364,976|
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MPM Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5th April 2025
- FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTSASSET INVESTMENTSINVESTMENTS | ||
|---|---|---|
| . | Listed | |
| investments | ||
| £ | ||
| MARKETVALUE | ||
| At 6th April 2024 | 4,722,584 | |
| Additions | 444,889 | |
| Disposals | (769,070) | |
| Revaluations | 238,973 | |
| At5th April 2025 | 4,637,376 | |
| NETBOOKVALUE | ||
| At5th April 2025 | 4,637,376 | |
| At5thApril2024 | 4,722,584 |
There were no investment assets outside the UK. Cost or valuation at Sth April 2025 is represented by:
| Listed | |||
|---|---|---|---|
| investments | |||
| £ | |||
| Valuation | in | 2018 | 863,756 |
| Valuation | in | 2019 | 290,156 |
| Valuation | in | 2020 | 221,574 |
| Valuation | in | 2021 | (76,131} |
| Valuation | in | 2022 | (731,511} |
| Valuation | in | 2023 | 68,610 |
| Valuation | in | 2024 | 544,885 |
| Valuation | in | 2025 | 238,973 |
| Cost | 3,217,064 | ||
| 4,637,376 |
The valuation in 2018 of £863,756 is the accumulated valuation movement from 2006-2018.
The amount presented in the SoFA under ‘Gains/(losses) on investments’ is the net total of realised and unrealised gains and losses for the year.
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;
MPM Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5th April 2025
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
==> picture [449 x 538] intentionally omitted <==
----- Start of picture text -----
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|5.4.25|5.4.24|
|£|£|
|Accrued|expenses|4,572|4,320|
|14.|MOVEMENT IN|FUNDS|
|Net|
|movement|At|
|At 6/4/24|in|funds|5/4/25|
|£|£|£|
|Unrestricted|funds|
|’|General|fund|5,364,976|38,005|5,402,981|
|TOTAL FUNDS|5,364,976|38,005|5,402,981|
|Net movement|in|funds,|included|in|the above|are|as follows:|
|Incoming|Resources|Gains and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|General fund|439,764|(294,699}|(107,060)|38,005|
|TOTAL FUNDS|439,764|(294,699|}|(107,060}|38,005|
|Comparatives|for movement|in|funds|
|Net|
|movement|At|
|At 6/4/23|in funds|5/4/24|
|£|£|£|
|Unrestricted funds|
|General|fund|5,032,273|332,703|5,364,976|
|TOTAL FUNDS|5,032,273|332,703|5,364,976|
|Comparative|net|movement|in|funds,|included|in the|above|are|as follows:|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|Genera! fund|48,426|(260,608)|544,885|332,703|
|TOTAL FUNDS|48,426|(260,608)|544,885|332,703|
----- End of picture text -----
continued...
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MPM Charitable Trust
Notes to the Financial Statements - continued
for the Year Ended 5th April 2025
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
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----- Start of picture text -----
||||||
|---|---|---|---|---|
|Net|
|movement|At|
|At 6/4/23|in funds|5/4/25|
|£|£|£|
|Unrestricted|funds|
|General|fund|5,032,273|370,708|5,402,981|
|TOTAL FUNDS|5,032,273|370,708|5,402,981|
----- 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:
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----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Gains and|Movement|
|resources|expended|losses|in funds|
|£|£|£|f|
|Unrestricted|funds|
|General|fund|488,190|(555,307)|437,825|370,708|
|TOTAL FUNDS|488,190|{555,307|)|437,825|370,708|
----- End of picture text -----
No restricted or endowment funds are held.
- RELATED PARTY DISCLOSURES
The charity received monetary donations from McBraida Plc during the year of £375,000 (2024 - NIL). Three of the trustees are also directors of this company.
The charity received a donation in the form of payment for services. McBraida Plc setiled the accountancy and audit fees for the charity. The value of the donation was £4,260 (2024 - £3,000}.
The total donation from McBraida Plc is £379,260 (2024 - £3,000}
The total value of trustees’ expenses is £Nil (2024 - ENil).
There were no other transactions with trustees or any other related parties during the year.
At the year end there we no amounts owed to or from McBraida Plc (2024 ENil}.
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MPM Charitable Trust
Detailed Statement of Financial Activities for the Year Ended 5th April 2625
| for the Year Endedthe Year EndedYear EndedEnded 5th April 2625 | |||
|---|---|---|---|
| 5.4.25 | 5.4.24 | ||
| £ | £ | ||
| INCOMEAND ENDOWMENTS | |||
| Donations and legacies | |||
| Donations | 379,260 | 3,000 | |
| Investmentincome | |||
| Other fixed asset invest - Fll | 21,852 | 8,547 | |
| Depositaccount interest | 38,652 | 36,879 | |
| 60,504 | 45,426 | — | |
| Total incoming resources | 439,764 | 48,426 | |
| EXPENDITURE | |||
| Charitable activities | |||
| Grants to institutions | 289,779 | 255,950 | |
| Supportcosts | |||
| Finance | |||
| Sundries | 40 | - | |
| Bank charges | 368 | 338 | |
| 408 | 338 | ||
| Governance costs | |||
| Auditors' remuneration | 3,720 | 3,600 | |
| Auditors' remuneration for non audit work | 792 | 720 | |
| 4,512 | 4,320 | ||
| Total resources expended | 294,699 | 260,608 | |
| Net income/(expenditure) before gains and losses | 145,065 | (212,182) | |
| Realised recognised gains and losses | |||
| Realised gains/(losses) on fixed asset investments | {107,060} | 544,885 | |
| Netincome | 38,005 | 332,703 |
This page does not form part of the statutory financial statements
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