(I'iA/l I .'IIy IY REGISTERED CHARrrY NUMBER: 1092431 RepoRT OF THE TrUSTEE8 ANO AUDITED FINANCIAL STATEMEin FOR THE YEAR ENOED 5 APRIL 2024 FOR TME MYRISTICA TRiIST Xeinadln Audlt Umlted <ststutory Audttty) Court House Court Road Brtdgend CF311BE
THE MYRISTICA TRusr coKrENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Pago Report af th• Trust 1 to 4 R•port of the Ind•p¢nd¢ntAudltors Slatomenl of Financlal A¢llvlll Balan Sheot Ca•h Flow Stat•m•nt 10 Noi•5 to the Cash Flow Stat•m•nt 11 Not•s to the Flnan¢ial Stat•mant• 12 b 17
THE MYRISTICA TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED S APRIL 2024 The trustees present Ihelr reF)rt vllh the ffinancial statements of Ihe charity ff the year end•d 5 April 2024. The trustees have ad¢pl8d the provisions ol Acccwnung and Repoiting by Charltie8.' Stsiemenl of Recommended Pradlce appllcable lo charities preparing Iheir ac£ounls in accordance viih the Flnancial Reporting Standard 8ppliGable in the UK and Republlc of Iréland (FRS 102) (effeclfve 1 January 20191 08JEcllvES AND ACTMnES Oble¢llv¢s and alms The objects of the Tn1 are lo provido SUPPOrt for the ry6vwllon and rèlief of poverty, tha advancement of education. haaiih, the saving of lives, community d8velopmenl, arts, culture, snCe. amateur sport, environmental protectlon and Improvern8nL animal weKare. the reN•f of Ihose In need and the promollon of Ihe effidency ofthe rescue and ambulance wvices. The trustees contlmi that they have referred to the guidance contslned In the Chadty Comrnisslon's general guidancé on publlc benefft when reviewlng tha Trusts alms and objecti'ves and pjannlng fijlure 8¢tlvilies and s8ttlng tha gift maklng poiky for Ihe year. The Trust Carrles out ih8sa obk¢ts by supportlng oryonlsalions whlGh the Truelèes consldèr to b8 of public brfil Ihomsfjlves and merit Iha SUPFAJt of tho ¢harfty. Glft maklng poll¢y •nd artl¥lty The Charlty does not invite appllcalions for fLmdlng. The TFUSte8s e1ve Illerature from other reglster6d ¢herlUes and good causes and have mel on fouroccaskjns duflng the year. An inlarlm legacy from Iho Estate ol Mary Dlna RlchJrds {'Dina'l was rulvÈd In June 2023. At thew June megling the truste dKlded lo make three donaltons of £1LKI.QOO Immediately to C8r(Ilff UnNersity for Duncan Baird's résearch, RNLI Bomardo's. Cowbrfdge. The r8m8lnlng legRcy wa8 deposlled whilst the trustees con8id8red furth8rth8 Charity's gift making pjllcy. At Iheif meeling In October the twstee8 agreed to distribute the legacy lo ¢h8riJe3 p8rticu18rly supported by Dina Rlchards subjeGI to relalnlng reserves of £100,000 dudng Iho gfft makjng prcce58. The tsuslees identlfied funding propos818 from Cardlff UniveIty, RNLI aff Bamardo'8 as worthy of supwl. In Decomber the tfUStees concluded that th• chafity would support Calff Unlversity wlih £1.000,000 lor rmne PhD SILOnt8 over 8 three year period Gommencing In October 2024 and idenufied CAFODS w¢)rk In GAZA and Ukraine for Immedlale support. A8 8 r6sull £WJ,000 was paid (M account to Cardny Unlvor¥lty and £20D.rJJo CAFOD In January 2024. Al thelr January 2024 meetlng the Iruslges agreed lo prov¢de Bamaftdo's with £1.262.728 for four Idenllle projects and made an Inttial donalfon ol £68.0 for 'A Tlme for Chgnge,. Furlher re¢iplents were Identsfiod wlh glfts of £1.2 mlllion for RNLI. and £100,000 for ea¢h of Ar Ambulance Wale5, Cats Pfolectlon, Guide 009s for thfr Bnnd and Ty H81an planned for June 2024. ACHIEVEMENT AND PERFORMANCE Fundralslng actlvltlos The Charity received Sncom8 of£5,188,023 {2023.. £2.0441 from 8 legacy and bank Interèst. A slngle18gacy of £5,oao,ooo wa8 YeIved a? an Inlerirn payment from ihe E8t8te of D5na Richards. The Irusle85 have teen notified thot the full residual lega¢y b8que8thed lo th8 chaflty Ss In ts fegion of £9 million, but that Iha admin1strali has not yet completed and the remainder of th8 legacy connot yèt be quantlf18d. The charfty made donaUons lo olher ¢harilles during thè year of £1,O58,IXl {2023.' nll). The Trustees are satisfied the year end positlon 8ftd have transfgrred the nel surplus of £4.107.091 (2023", defiril £5,462) to the Charity's uncted resewves.
THE MYRISTICA TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 FINANCIAL REVIEW Invastment powers. pollcy and perfornianc• The Trustees have powers lo dèposil or Irwesl funds in any lawful mannor bul lo invest only afterobtsining advice from a financial Pert and having regard lo the suilabillty of Snveslments and Ihe need for dlversificallon. The Trustees have powers io delegale lh8 management of inveslments to financlal exp*ts. The Trusiees reviewed Ih85r investrnenl policy stalémenl and 115 Invèslrnenl oble¢liv8s end phllosophy in October 2023. In consfderabon of the charity's grant making ubjeclivès, Ihe Trust88s de¢lde# lo hold the funds in a cash deKosft accounl. The charivs Investment advlsors had advised Ihe liuslees thal 11 Is not approlate to place investments when there i& a timescale for perfoTmance of18$5 than five years. A5 the Trustsgs expect lo dislfibute all lunds in a shorter timescale. the advlsers recommende(f Ihe trustees to hold the fvnds In hlgh Inler8st cash acrounts. The charlV8 fvnds were held In Interest b@aring deposit eccounts at the yearend. Ro5grves policy The Truslees have made a decislon to distrlbute the fvll legacy from Dlnè Richards, Estatè to Ih6 charfilteg particularly supported by Mrs Richard8 depending upon neod and lo wind up the charily wlthin years of calving the balan of the legacy. STRUCTURE, GOVERNANCE AND MANAGEMENT Governln9 document Th8 ¢harity Is ntlled by its goveming document, a daed oltru5t and ¢on8tilutes an unlncorpDrat8d charity. Re¢rultmonl and appolntm•nt of new tru$t•è8 Undèr Ihe te(m5 of tho Tfust I)eed a Trustee may be appolnted at any lim8 so thal the total number of Trustaes shall at no lime exceed K. A TruyAee nwy be appointed or discharged by a re801ution of a meellkvJ of the Trusiees. ganlsatlonal $tructuro The tnjslees have no specific funcllon apart from Iho fact that Ihey are lo ensure th8 well balng Of t charitys buslness and to Condu conslltullonal matters. Relatad parties One of Iha Trustees, Miss Slan L Willia, Is o consullant to the firm Geldards LLP who are the charlty's sollcrtors. Another Twstse, Anne Taylor, Is a Partner In the lirm of Geklards LLP. Rl6k nMnag•mnt Tho Iru5tees have a duty lo Identify and wlew the rf8ks lo whfch the charity is exposed and to ansure appfoMale conlrolB are in place lo provide reasonable assurance against (raud and 8fror. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty numbor 1092431 Prlnclpal address Clo Geldards LLP 4 Capitsl Quarter Tyndall Streg1 Cardlff CF10 46Z
THE MYRISTICA TRUST REPORT OF THE TRUSTEES FI)R THE YEAR ENDED 5 APRIL2024 Trusts•8 Mlss S L Wil3M$ RFKing Mrs A C Taylor Auditors Xelnadin Audlt Limllad Islatulory Audltorl Caurt Houso Court Road Brldgend CF311BE Soll¢ltorn Geldards LLP, 4 Capltal Quartgr Tyndall Street Cardf CF10 48Z Coutt8 & Co., 3rd Floor, One Kingsway. Cardlff, CF10 3AQ STATEMENT OF TRUSTEES, RESPONSIBILITIES Tha trustees are r8sponslble for preparin9 the Report of thè Trustees and th8 nnancial stslemnts In accordance applkable law and Unlted Klngdom Accountin9 Standards {Unlted Klngdom Generally Acceplad Aettjunllng Pracuce). The law appll¢8ble to charitles in England and Wales, tho Chariues Acl 2011, Charity (AcLounts and Rep¢Jrtsl Regulations 2008 and the provisions of the Iwst daed roquires Ihe trustees lo prepare flnancial slalemenls each finan¢i81 year which give a and falr vlew ol Ihe stale of affalrs of the charity and of the incoming resources and applicalion of reSr¢eS, Including lh6 Income and expendilurg, of the ¢harity fcr that p¢rlod. In preparing those financial statements, tho trustee$ aro required to select sultable accounting policles and th8n apply Ihern CLMSiStenUy: obsgTve the method5 and princlples in tha crfty SORP,. m8ke judgements and estlmates Ihat ore reasonable and pNden( state whether applicable acLoUnt slandgrdg have been folltyvfrd. bI1 to any malerlal departures dlsclosed and eyplained In the financlal staternenls.. prepare th8 financ181 $1?lem8nls on the going concwn bas18 unl8s8 il Is Inappropriat8 to presume that tha Gh8rity will canttnua In buslnes& The InleeS are responslble lor keeping proper accountlng records which dirOse with r&%onabl8 8c¢uracy al any limè thé financial position ol the ¢harity and lo enable them lo ensure that Ihe financial slat*nents ccmpty wilh Ihe Charities Acl 2011, thè Charfty (Accourtls and Reports) Regulatlons 2008 and Ihe provislong of the Iru51 deed, They are also responsible lor safeguarding thè assets ol Ihe tharfty and hence lor laklng reasonable steps for Ihe preventlon and deten offraud and olher Irregularille5.
ThE IAYRISTICA TRUST REPORT OF THE TRUSTEES FOR7HE YEAR ENDED 5 APRIL 2024 13 Th25 Approved by wler of the b08rd of trustees on............................................. ¥nd Signed on Its behalf by.. Iss S L Willlams. TAtee
REPORT OF THE INDEPENDENT AUDITORSTO THE TRUSTEES OF THE MYRISTICA TRUST Oplnion WÈ have audited the financlal statements of The Myrislica Trust Ith&'chariV> for the year ended 5 April 2024 whlch comprise the Slalement of Financial AGtlvities. the Balance Sheal. the Cash Flow Sialement and notes to the finandal statemants. including 3 summary of signlficant 8ccounting policies. The financial reportlng framework that has beon appiled w) Iheir preparatiori Is 8ppllcable law and United Klngdom k¢ounling Standards {Unitod Klngdtxn Generalw A¢cWed Accounting PradicAI, In our opinion th8 financial ststemlS. give a Irue and faif view of Ihe slatè ol Ihe charlty's 8ffaifS as al S Aprfl 2024 and ol Ils incoming resources and applicallon of resources, for the year ihw) ended., have been properly prepared in accoTdan¢e wilh United Klngdun Gen8rally Attepled Ac¢Dunling Praclice., and have been prepared in accdance vAth the rnqulr¢menls of the Charflies Act 2011. Basls for oplnlon We conducted our audit In accordance wlth Inlemalional Standar(18 on Audltlng (UK) {ISAB (UKI) and appllcabie law. Our responslblities urKler Ihose stsndards are further describ8d In Ihe Audltors, responsibilities lor the audil of the finandal stalemenls wtion of our r¢port. We are Independeni of Ihe charity in accordance wilh the ethical requlremenls that are rdevant to our audlt of the finandal stalemenls in the UK, Includlng tha FRC'S Eihlcal Standard, and we have fuffilled our other 8Lhlc81 respDnslbKtties In accordance with these requiomenls. We belleve that the audlt Idence we have obialwd Is suffiaenl and apwowlgt$ to provlde a bass for our oplnion. Concluslons rel•ting to goln9 concern In audlling tha ffinan¢ial stalemants, wg have concluded that Iha Iru$l8es' use of the golng ¢on¢em basss of atxounling In the preparallon of Ihe financlal slalements Is appropriate. Based Dn th8 work wa have perf¢ymed, w6 have nol idèntified any mal¢dal uncert8inile$ relah'n9 10 events or ¢Mditfjons that, indlvldually or ¢ollecliv•ly may cast significant doubl on Ihe charity's abillly to con15nue 95 a gclng concem for a pedod of al loasl months from when the financlal st8iement8 are auihorised f 15sue. Our re8POD51bili1585 and the rèsponslbS111189 of the trustees wlth roBpecl lo golng C(Cern are d8s¢rtbed in Ihe rélevant gection8 of Ihly report. Olher Inforniatlon Th¢ trustees ara re8ponsiblè fcr Ihe olher Informatlon. Th8 othw inlorMa0n cornprises the Infomal¢ Induded in th6 Annual ReF<>rL olhar Ihan the flnandal statements and our R¢port of the Indopendenl Auditors Iher80n. (r ¢)pinion on fftnanclal stslements does not cover the other Infomiallon and, excepl lo tho oxtqnt otherwiya explkllly slated In our report. we do not express any olassurance Gffjdusion Iher80n. In c(nectIOn with our aLKlIt of the fin8nci81 statements, our responslbility Is to read Ihe olher Infomialion arKI. in dolng so, consider whether Ihe olher inft)mallon ts mat¢rfally ineA)nsistenl wllh tho financial stsiements or our kncwledge oblained In tho audit Of otheThse appeats lo be malerialty mi35taled. If we Identify wGh material inconBistencles or 8ppaTenl malertal misslalemenls. w8 are required lo delemiine whether this glves ¥e lo a malertal mlsstatement in th8 financlal ststémnls Ihem5efve$. If. based the wotk we hava performed, we Conclude that there is a matèrial misstatement of this ¢)ther Informallon, we ore rg4ulr•d lo rewrt th* faci, We have noihing to rwfAi in Ihi5 regard. Matter• on whlch we are requlr•d to rwrt by ¢xcoption Wg have nothlThJ lo report In SpeCt of the following matters tha Ch8rili8s (Accounts and Reports) Regulations 2008 requ1 us to report to yi)u if. in our opinion.. Ihtt infoallOn given in the RepL)rl ol the Truslees is Incons151ent in any material re¥J¢Ct with the flnan¢ial $tstements' ar suffl(xenl aCcntIng records have mt been k1.. or the finanaal statwnents pre not In agr8•m8nt with tre aOunt]ng Te¢¢xds and r8tums,' or we have Th)t re¢elved all th@ inlomotion and 8xplanation$ we require for our audit.
REPORT OF THE IMDEPENOENT AUDITORS TQ THE TRUSTEES OF THE MYRISTICA TRUST Rèsponslbllitlts of trusle¢$ As expjained morè fijlly In the Ststemenl of Twsle8s' ResponSlI111¢s, the tNslees are re5p¢nsible for ihe prèparitlon of Ihg financial stalemenis which give a irue and falr vitr14, and for such Internal ¢onliol as the tNslees detenIne 1$ n•tèSS8ry to enab the preparallon of financlal stalemenls that are free from material n$S181eMen1, whdherdue lo fraud or error, In preparing the finan¢lal sialemenl& the InJsl6és are ie5ponslble for assesslng the ch8riVs ability trj ojnlinue as a going ¢xin¢&m, disc105in9, a5 appllcable, maiters r8131ed lo golng concem and using Ihe going concem b8sls of ac£ounling unl8$s the trust etther intend lo Ihjuidale th& charity or lo ceaso operallong. or have no reall$tfc allemaiive bul to do so. Our respoD51bllitle8 for tha audit of th• financlal stat•ments We have been appoinl8d as audilors under Sèciion 144 of tha Charities Act 2011 and report in aceordar with the A¢1 and re16vanl regulallons made or havlng effect Iheraunder. Our objectives are lo obtain ieasonabl8 wurance about whether Ihe financlal staternènls as a thole are free from ma131 mlsslalemenl, whether due lo fraud cf er1. and to Issu8 a Report ol the Indepandenl Auditors Ihal Includes our wnion. Reasonable 86suranc8 is a high level of assurance, bul is not a guaran160 that an audll conducted In acCance wlth ISAS IUKI 11 always detéct a m818rial mi8$1alemonl when il exists. Mlsslalemenls can arise from fraud or error and arè con6kl8red m8t8Ti¥I il, Indlvidually or in the agyregalts, they could reasonably be e¥pecled to influencè the ecwomic dgd8lon$ ol users laken (m the bas1$ ol these fin8nclal staten1$. The extent to whrch our procedures are ¢apable of dalecTrJ [rgularl1{aS, inclurfing fraud b detailed below.. The audit was pl¥nned on the ba81s thal the Ièsiing undertaken and procedures caled out would have a reasonable expectallon of detectlng any instances of irregularity Including fraud, The plan Involved asse551ng the rl8k of the finaftclal stalemenls conlainlng maal misslalemenls taklng into account various factors SLKh as the conlrol sysl8m8 in place. the stsndard ol fecord keepln9 arsd an 8s5e&smenl of Ihg influence and rd8 of the stakeholdèrs invofved. The audll plan was followed and benef#d from the audll leams knowledge ol the client. They ¢onsldgred how fraud may 0T and whère tho finan¢lal statements may be Jscepllble lo err¢r. Sullabl8 transoc11 sgmple 18$Ury was ma¢J& on Ihe hlgh ri8k areas ol Ihe financial 8t8lemenls. Enquides were rnad• of Ihe chaiity tfusle8s For inlomialion and gxplanaUrm$ as requlrÈd dudng Ihe course of the audit and any wntentious aréas approprlalely chall8n9ed 10 ensure that suffi¢lenl audll evKl6nce was oblained, The procedures and lesung und8rtaken a¥ a resull of our ri4( assessmenls were deemed sulhcient to Idenllfy malertal errors for whlch adluslmenl was then made In the financlal slal8ments. Thwe Is h¢yrt8ver no gu8r8nle¢ that all errofs. in¢ludirKJ those r•l8led lo fraud, would ba idenlifled as part ol tha 8udll. A further descrfptith) of our responslbilillÉG for the audil of the financlal statnentS is located on thg Flnanclal Reporting Councll's bSite al vMw.frc.oTg.uklaudllorsrwonsibillifes. Thls descripllon forms part of our Report of the Independent Auditor$.
REPORT OF THE INDEPENDENT AUDrroRS TO THE TRUSTEES OF THE MYRISTICA TRUST of aur r•port This Teport is made solely lo Ihe charity's Injslees. as a bcdy, In aC(dance wlth Part 4 of the ChaflUes {Actounl$ and Reports) Rwlalions 2008. Our audit work has bean undertaken so that mlght stsle 19 the charivs Iruslees ¢h05e matters we are requlred lo stsl6 to them In an auditors, report and for no other purpose. To fullest èxtenl permitted by law. we do rnt accept or assume SponbIlIty lo anyone cther Ihan It tharily and Èhg charitys trustee6 a5 a body. for OLff audit work, for thLs r¢port, or for the opinion8 W¢ have fomied. Xeiodin Audit Llmlled Iststulory Auditor) Court Ho Court Road 3ridgend CF31 1BE 2021
THE MYRISTICA TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 2024 Unrestricted fund 2023 Total lund5 Notes INCOME AND ENDOWMENf8 FROM Donations and legacoes 5,OOQ,000 Investment Income 188,023 2,044 Total 5.188,023 2,044 EXPENomiRE ON Rai51ng funds 22.932 Charllabl• a¢tlvltl•g Glfts payablo 1.058.000 Totsl 1,080,932 7,506 INCOMEI{EXPENDrruRE 4,107,091 5,4e2) RECONCILIATION OF FUND8 Total funds broughi f¢Jward 216,241 221,703 TOTAL FUND8 CARRIED FORWARD 4.323,332 216,241 The notes fomi part oflhese finandal statements
ThE MYRisncA TRUST BALANCE SHEET 5 APRIL 2024 2024 Unrestricted funé 2023 Totsl fvnd8 Notes CURRENT ASSETS Debtors Cash at bank 10 170,209 4,157,688 224,234 4,327.897 224,234 CREDrroRS Arnounts falling due wlthin on8 year 11 {4,5651 17,g931 NEf CURRENT ASSETS 4,323,332 216,241 TOTAL AsseT8 LESS CURREKr LIABILITIES 4,323,332 218,241 218,241 NET ASSETS 4,323,332 FUNDS Unrestrlcl8d fiJnd$ 12 4.323,332 21e,241 TOTAL FUNDS 4,323,332 216,241 ¢ial slatemenl$ Were approved by Ihe Board of Tru8iee$ and aulhorisod for Issue on .. 1¢ L J.. and w8re signed on Its b8half by.. S L Willlams- Trustee A C Taylor- Tmstee Th8 notes fL¥m part ofth85e flnancAal siatements
THE MYRISTICA TRUST CASH FLOW STATEMEKr FOR ThE YEAR ENOED S APRIL 2024 2024 2023 Notes Cash flows from op•ratlng actlvllles Cash generated fram operations 3,745.431 (3.332) N•t cash provided byl(used in} operating actlviti8S 3,745,431 13,332) Cash from Inv•stlng activltl¢s Irrtgresl recaved 188.023 Nat cash provlded by Investing 8Ctlvltles 188,023 2,044 Change In cash and c8$h •qulvalents In th• rèportlng perlod C•8h and cash equivalonts at the beginnlng ofthe reporting perlod 3,933,4 (12881 224,234 225,522 Cash and cash •qulvalanlg atth• and of the r•pgrting perlod 4.157.688 224,234 Thè n¢Xos f¢)rm part of these financlal staloments -10-
THE MYRISTICA TRUST NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED S APRIL 2024 RECONCIUATION OF MEf INCOMEIIEXPENDITUFIEI TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net In¢omell•xponditsrel for tho r•portlng porfod {as pèrtha Statemont of Financlal Actlvltlesl Adjugtrnènts for: Interest recelvod Increase in dablor$ {Oe¢rea58Yin(Trase In ¢x8dllors Nat caoh rxovided byllus In) operatlons 4.107.091 {5.462) (188.023) 1170,209) (3.4281 (2.OM) 4,174 3,745,431 13,332) ANALYSIS OF CHANGES IN NET FUNDS Al8.4.23 Cash tknv At 6.4.24 Ngt cash Cash at bank 224.234 3,933,454 4,157,688 224,234 3.933,454 4,1 S7,688 Total 224,234 3,933,464 4,157.888 The not8s form part of these financial statsmont5 -11-
THE MYRISTICA TRUST NOTES TO THE FINANCIAL STATEMENTS FOR TE YEAR ENDeD S APRIL 2024 ACCOUNTING POUCIES Basls of preparfng the flnancial statements The financial statements of lh8 chaTIty, which 15 a publlc benefft entity under FRS 102. have been prgpared in accordance wllh tho Charities SORP (FRS 1021 'A¢¢ounting 8ntJ Reporting by Chariues; Statement of Re¢ommended Praclice applicable lo thariltes preparfng Ihelr accounts In acc(¥danc8 viih the Financial Reporttng Stsndard appllcable in thè UK and Republ1¢ oi Ireland (FRS 102) leffeclive 1 January 2019}', FIT)ancial Reporting Siandard 702 The Financlal Reporting Standard applicabEe In the UK and R8publl¢ oi Ireland. and the Charilles Ad 2011. The finan¢ial stalemènis have been prepare(i under the hislortcal cost convention. Incom¢ All income 1$ reco9nised in Ihe Sialemenl of Flnanci81 Aetivllles ¢)nce the thadty has eniitlemenl lo Iha funds,11 Is prob8ble that Ihe Inwme wlll be rewved and thè amount be m88surgd rvllably. Exp8ndlturo Llabillitos are recognlsèd as expenditu as soon as there Is a legal or eonslruclive obllgatKin committing th8 charity lo Ihai 8xpendllura, il 15 probable thai a transfer ol economlc benefit$ will be r¢qurred In Sement 8lMI thè arnounl ol Ihe obNg#iion can be measured reliably. Expendllure Is 8ccounled for an aCcnlS bas*s and has b•8n clas3lfled under headlngs that 8ggregale all cost r8laled lo the category. Where CO$ls cannol be dlredy attributed lo particular headlngs they hava been allocaied lo activliies on a basis consislenl with Ihe use of fesoureès. Grants offered subj4¢1 to corKllllons ¥thl¢h have not beon m•1 al the ye8r end date are notad as a LMmItMen1 bul not acfflied as expéndllure. Allocaiion and apportlonmont of costs All costs are 811oealed lo the one a¢llvity of Ihg charlty- Taxation charfty Is exempt fr(Jm tax on Sts charflable actlvities. Fund acc+)untlng Unreslrict8tl fvnds can b8 used in 8c£ordance wlth th8 th8rit8ble objacllv88 al thè dlscralion cf th8 trustees, Restrlcted funds can only be vsed for partUlar restrkt•d purposes wilhln Ihe objects of the charity. Résirklions arfse when specified by th# donor or when funds ar8 rnised lor particular r•strlcted PUfPOSeS. Further ewanaticffl of the nature arKI purpose of each fund Is Induded In the notes lo Ihe flnancial slalements. Forelgn currenclgs Assets and liabiltlies in lorelgn Cufrencfes ale Iranslaled Into slerllng &t thé rates of exchonga ruling at the balance sheet dale. Transactions in foreiw currencies are rranslaled Into slerlllig al the rale of exchange rulin9 al the dale of Iran$tiOn. Exchang¢ dlfferen¢es are lak8n into accounl In 8ryiving al Ihe operatin9 result. Fixed asset Invèstmenls Investrnenls are included al closing mid.market valug at tho balance $heet date. Any gain or los$ on revaluotlon 18 tsken to the Slalemenl of Financial ActNlttes. -12- continued...
THE MYRISTICA TRUST NOTES TO THE FINANCIAL STATEMENTS . ¢ontlnued FOR THE YEAR ENDED 5 APRIL 2024 DONATIONS AND LEGACIES 2024 2023 Lagacies s.0)0.0 INVESTMEpif INCOME 2024 2023 Interesl ¢81v1 188,023 2.044 RAISING FUNDS Ralslng donatlom and Iwcles 2024 2023 Support costs 72,932 CHARITABLE ACTMTIES cosrs Grant fundlng of gotlvlties (see not 6) Gltts payable 1,058,OC G114NTS PAYABLE 2024 2023 Gifts payable The total grants pald to institutions durfng the yearwas E4S fdlows.. 1.058,000 2024 2023 Bamados RNU Cardiff University for Duncan Balrd's ear¢h Cardiff University first part ol fundlng for nine phD students three of whom lo be rlnfenc¢d for Duncan BaSrd's researoh. CAFOD for wot In Gaza and Ukraln8 8amardos fundlng for'A Time for Chang8. project 100.000 100.000 100.000 500,000 200.0(W) 68,000 1,058,000 -13- continued...
THE MYRISTICA TRUST NOTES TO THE FINANCIAL STATEMENTS- conllnuéd FOR THE YEAR ENDED 5 APRIL 2024 SUPPORT COSTS Costs Ral$ing donatlons and legad8S 22.932 Support cost4 Included in tha above, erg as fdlows.. Gov•rnan¢• costs 2024 Ralslng 2023 and garyes Total a(*vkle8 Audttors, remun8ratl+Jn A¢¢ounlancy Leg81 fe85 Bank Charges 3,000 400 19.166 366 2.760 250 4.496 22.932 7,506 TRUSTEES. REMUNERATION AND BENEFITS Théra were no tNslee$' ramunwan or other bèneffts for the year ended 5 WI 2024 nor for the year eNlad 5 April 2023. Tru6tse$' •xp8ns•8 TN$lees' were paid expens85 of £nil (2023.. £nll}for the year énded 5 April 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unres1ricl fund INCOME AND ENDOMIENTS FROM Inv•stmenl Income EXPENDtTURE ON Oihor 7.9)8 NET INCOMeiiEXPENDITURE (6,462) RECONCILIATtON OF FUNDS Totsl fun¢ts brought forward 221,703 TOTAL FUNDS CARRIED FORWARD 216,241 -14- contlnued,,.
THE MYRISTICA TRUST NOTES TO THE FINANCIAL STATEMENTS . conlinu FOR THE YEAR E14DED S APRIL 2024 10. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 Pr8paymants and aouued Income 170,209 11. CREDITORS: AMOUNTS FALLING OUE WITHIN ONE YEAR 2024 2023 Other credltgrs 4.565 7,993 12. MOVEMENT IN FUNDS movement In funds At 6.4.23 5.4.24 Unr•stri¢tsd nd1 GengT81 fund 216,241 4,107,091 4,323,332 TOTAL FUNI 216,241 4,107,091 4,323,332 Nat moveMrt kn funds, Included in the abov8 are as follows: InrnIng r8sourc8s ResrCaS oxpendod Movement In fijnds Unre8trieltd funds Gan8ral fvnd 5,188,023 11,080,932) 4.107,091 TOTAL FUNDS 6,188,023 11.080.932) 4.107,091 Comparntl8 for movement In funds Net movernenl In funds At 6.4.23 Al 6.4.22 UDre51rfctod funds General fvnd 221.703 {5.4621 218,241 TOTAL FLINDS 221,703 15,4621 216,241 -1 Crllnued...
THE hfffiisTICA TRUST NOTes TO THE FINANCIAL STATEMETrifs. contlnued FOR THE YEAR ENDED 5 APRIL 2024 11 MOVEMETrif IN FUNDS- contlnu•d Comparative nel movem1 in funds, included in tho above ara 85 fvNows.' In¢omin9 rasourtss Resources expended Movement In funds Unrostrlcted funds General fijnd (7,5061 {5,462) TOTAL FUNDS 2,044 (7,5081 15,462) A current year 12 months and pr(oryeor 12 months comblned posltl¢)n18 88 louovts: Net movement In fundA At 5.4.24 At 8.4.22 Unr•$trl¢ted fvnd• General fund 221,703 4,101.629 4.323,332 TOTAL FUND8 221,703 4.101,629 4,323.332 A CLwrent ye8r 12 mc*iths and pdor yaar 12 months cornblnad n81 movement in funds, Iu48d in the abov8 are as faNow5'. Incomlng resour8 ResoLrnS Movement oxponded In fvnds Unrestrlct•d fund• G8nèral fund 5,190,087 (1.088.438) 4,101,629 TOTAL FUNDS 5.190,067 (1,088,438) 4,101,629 13. RELATED PARTY DISCLOSURE3 Miss S L Wtlliam8,18 8 conwltsnl in the flrm of Geldarts LLP who a Ihe charttys sollcitors. Mrs A C Taylor, is a Partner in Ihe flrm of Geldards LLP who are th8 charivs 8011cilors. Durfng tho year Geldards LLP provlded legal serylc8s lo the tharlty on nomial ccKllmerci81 term8 89 lollows.. . Management and admlnistration inclUVe Lif VAT £19,166 12023.. £4.4961, - Ai the year £1,165 (2023.. £2,404). irthsive of VAT. w8s due by lh8 charlty to Geldards. -16- ontinued...
THE MYRISTICA TRUST NOTES TO THE FINANCIAL STATEMENTS • eontinuod FOR THE YEAR ENDED 5 APRIL 2024 I& ULTIMATE CONTROLLING PARTY The tharity 15 controlled by ivs trusiee8. -17-