2021-12-31-accounts - Merriman Charitable Foundation

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MERRIMAN CHARITABLE FOUNDATION

Trustees

Nicholas F. Merriman: Chairperson

Lindsay Merriman

Saskia Restorick

Principal address

48 College Road London SE21 7BA

Charity Number: 1080946

Contact:

Nicholas Merriman

Page 1

MERRIMAN CHARITABLE FOUNDATION

Trustees' Report for year ended 31 December 2021

Trustees

The trustees are named on page 1 and have served throughout the year. Appointment of trustees is governed by the Trust Deed of the charity. The board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.

Investment powers

The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity. The assets are held for investment to provide income for the furtherance of the general objectives of the charity.

Constitution, objects and policies

The Charitable Trust is constituted by Trust Deed dated 14 April 2000, and its objects are for the benefits of such exclusively charitable objects and purposes in any part of the world as the Trustees may in their discretion think fit, for general charitable purposes, overseas aid/famine relief arts/culture/heritage/science/animals and environment.

The trustees have complied with the duty under the Charities Act to have due regard to guidance published by the Charity Commission including public benefit guidance.

The trustees delegate the day to day responsibility for the administration of the foundation to N. Merriman.

Development, activities and achievements

The trustees are pleased to report on another year of stable performance of the charity. Investment income amounted to £110,250. Grants of £103,950 were made during the year.

Financial review

The statement of financial activities on page 4 provides further details of income and expenditure.

The costs of generating funds was increased to £1,686 from £559 in the previous year.

The charity has no formal policy for holding reserves.

The balance sheet shows the overall reserves position as at 31 December 2021 with accumulated resources amounting to £2,704,909 compared with £2,432,417 in the previous year.

Approval

This report was approved by the trustees on 28 March 2022 and signed on their behalf by:

N. Merriman Chairperson

Page 2

MERRIMAN CHARITABLE FOUNDATION

Independent examiner's report to the trustees of Merriman Charitable Foundation.

I report on the accounts of the Merriman Charitable Foundation for the year ended 31 December 2021 which are set out on pages 4 to 8.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity is preparing accrued accounts and I am qualified to undertake the examination by being a qualified member of CIMA.

It is my responsibility to:

. examine the accounts under section 145 of the 2011 Act,
. to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
. to state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that, in any material respect, the requirements:
(a) to keep accounting records in accordance with section 130 of the 2011 Act; and
(b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Erin He Chartered Accountant Mpathy Accounting 80 Beauval Road London SE22 8UH

Date : 11 March 2022

Page 3

MERRIMAN CHARITABLE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR TO 31 DECEMBER 2021

Notes Income Voluntary income donations Interest Investment dividends Total income Expenditure Cost of generating funds: Investment management fees. Expenditure on charitable activities: Grants paid 2 Other expenditure 4 Total expenditure Net income and net movements in funds before gains and losses on investments Other recognised gains Net gains on investments Gains/(loss) on revaluation of investments 1.4 Net movement in funds Total funds brought forward Total funds carried forward	Total Unrestricted Restricted Funds Funds Funds 2021 £ £ £ 6 6 116,323 116,323 116,329 116,329 1,686 1,686 110,250 110,250 3,588 3,588 115,524 115,524 (4,107) (4,107) 277,449 277,449 273,279 273,279 2,432,417 2,432,417 2,704,909 2,704,909	Total Funds 2020 £ 57 103,146
		103,203
		559 103,950 740
		105,249
		(2,046) (407,193)
		(409,239) 2,637,267
		2,841,656

Page 4

MERRIMAN CHARITABLE FOUNDATION

BALANCE SHEET

AS AT 31 DECEMBER 2021

Note Fixed assets Investments 5 Current assets Cash at bank and in hand 6 Total current assets Creditors: amounts falling due within one year 7 Net current assets Total assets less current liabilities Funds of the Charity Unrestricted funds Total funds	Total Unrestricted Restricted Funds Funds £ Funds £ 2021 £ 2,606,570 2,606,570 99,135 99,135 99,135 99,135 (796) (796) 98,339 98,339 2,704,909 2,704,909 2,704,909 2,704,909 2,704,909 2,704,909	Total Funds 2020 £ 2,329,508
		104,329
		104,329 (1,420)
		102,909
		2,432,417
		2,432,417 2,432,417

The notes on pages 6 to 8 form an integral part of these accounts.

Approved by the Trustees on 28 March 2022 and signed on their behalf by: -

N Merriman Chairperson

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MERRIMAN CHARITABLE FOUNDATION

NOTES TO THE ACCOUNTS

FOR THE YEAR TO 31 DECEMBER 2021

1 Accounting Policies

1.1 Basis of preparation of accounts and assessment of going concern

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS102.

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

1.3 Income and expenditure

All income and expenditure have been recorded on an accrual’s basis.

1.4. Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The charity does not acquire put options, derivatives, or other complex financial instruments.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

1.5 Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

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MERRIMAN CHARITABLE FOUNDATION

NOTES TO THE ACCOUNTS

FOR THE YEAR TO 31 DECEMBER 2021

2 Expenditure on charitable activities

During the year, the following grants were made. Whilst in 2020, total grants of £103,950 were made.

Name Ref Charity No. Inc. £000s Project Amount Location TFN	Name Ref Charity No. Inc. £000s Project Amount Location TFN	Name Ref Charity No. Inc. £000s Project Amount Location TFN
Access Social Care 21.01 1186714 N/a Advice & Help for care rights 2,000 B Vulcan Learning Centre 21.02 1165136 £593 Digital education in Hull 2,000 A Tusk 21.03 1186533 Proecting African Wildlife 5,000 E
Five Talents 21.04 1113969 £929 Support & micro finance 3,000 D Hackney Laces 21.05 Nfp £17 Girls sport in Hackney 2,000 A
Greater Change 21.06 1188164 N/a Finance for homless 3,000 B Children Heard & Seen 21.07 1157879 £135 Prisoner children 2,000 A
Caxton Youth 21.08 1090549 £197 Disabled kids in Westminter 4,000 A Universify 21.09 1167240 £218 Preparing for university 4,250 A
Womankind Worldwide 21.10 328206 £3.1m Womens rights 2,500 C Bowel Research UK 21.11 1186061 N/a Bowel research 2,500 B Children In Crossfire 21.12 NIC 101412 3,000 C Swinfen Telemedicine 21.13 1077879 £36 Telephone medical support 2,000 B Imet 2000 21.14 1081287 £729 Healthcare in Uganda 3,000 D Gifted 21.15 1151327 £241 Supporting youth in Hertfordshire 2,000 A DEKI 21.16 1137047 £144 Micro loans & support in Togo 5,000 D Tree Aid 21.17 1135156 £5.4m Planting trees in Africa 2,500 E Safe Families for Children 21.18 1550405 £2.8m Supporting children 3,000 A InterAct Stroke Support 21.19 1080046 £210 Reading to stroke affected patients 1,000 B Evergreen Africa 21.20 1160416 £65 Menstrual support et in Uganda 2,500 D Freedom Kit Bags 21.21 1173656 £80 Menstrual support et in Nepal 2,500 D Loughborough JAG-Grove APG 21.22 1150852 £135 Playground etc in Loughborough J 5,000 A
CGEF 21.23 1048908 £89 Bursaries for girls education		3,000 C
Key4Life 21.25 1152426 £830 Mentoring etc for young offenders Getting into Tech 21.26 12339338 £90 Tech training for black youth TFN-Swan Appeal 21.28 TFN Core costs		2,000 A 2,000 A 5,000 F *
Les Azuriales 21.29 For Kamohelo Tsotetsi Migration Museum 21.30 For education development A Partner In Education 21.31 Rwanda education support		500 F 2,000 A 4,000 C
One To One Children's Fund 21.32 Eastern Cape Malaika Kids 21.33 Orphans support F.F.I. 21.34 Conservation worldwide Artis Foundation 21.35 Arts in primary schools My Life Films 21.36 Films for demential patients Tusk 21.37 1186533 Wildlife protection in Africa Hull Children's University 21.38 1124329 £571,963 Extra curricula support in Hull Live Unlimited 21.39 1176418 107000 Youth support in Barnet		3,000 C 3,000 C 10,000 E 1,500 A 500 B 5,000 E 3,000 A 2,000 A
Total Grant 33% UK A 10% UK B 17% Overseas C 15% Overseas D 20% World E 5% Other F 100%	110,250 Youth & Education 36,750 Hospices, Homeless, Care, Medical 11,000 Youth & Education 18,500 Development & Medical 16,000 Conservation & Environment 22,500 Other 5,500 Total 110,250

Page 7

MERRIMAN CHARITABLE FOUNDATION

NOTES TO THE ACCOUNTS

FOR THE YEAR TO 31 DECEMBER 2021

3 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

4 Other Expenditure Independent examiner's fee: Accounts Previous year's under provision Bank charge Patron's event 5 Fixed Asset Investments Listed Investments Market Value at 1 January 2021 Additions Disposals Revaluation Market Value at 31 December 2021 Unlisted Investments Brought Forward in 2021 Investments at Market Value: Listed Investments Unlisted Investments	2021 £ 700 36 96 2,756	2020 £ 680 60
	3,588	740
	2021 £ 2,556,570 50,000 2,606,570	£ 2,279,508 117,625 116,323 (277,449)
		2,556,570
		£ 50,000 2020 £ 2,279,508 50,000 2,329,508

All fixed asset investments are held in the UK.

Page 8

MERRIMAN CHARITABLE FOUNDATION

NOTES TO THE ACCOUNTS

FOR THE YEAR TO 31 DECEMBER 2021

6 Cash at Bank and in hand CAF Cash Account CAF Gold Account Brewin Dolphin Income Brewin Dolphin Deposit 7 Creditors falling due under one year Accruals	2021 2020 £ £ 14,097 12,236 85,038 85,032 2,527 4,535
	99,135 104,329
	2021 2020 £ £ 796 740

8 Trustees remuneration and expenses

No remuneration and expenses directly or indirectly out of funds of the Charity were paid or payable for the year to any Trustees or to any person or persons known to be connected to any of them.

9 Related party transactions

There have been no transactions with related parties in the year.

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