2023-03-31-accounts - The Mildred Trust

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REGISTERED CHARITY NUMBER: 1097210

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR THE MILDRED TRUST

MMP Accounting Solutions Ltd Unit 34 Basepoint Shearway Business Park Folkestone Kent CT19 4RH

THE MILDRED TRUST

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2023

		Page
Report of the Trustees	1	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet		6
Notes to the Financial Statements	7	to	11
DetailedStatementofFinancialActivities		12

THE MILDRED TRUST

REPORT OF THE TRUSTEES for the Year 2

The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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).

The Vicar of Tenterden Trust, incorporating The Old School House Larder was renamed to The Mildred Trust at an EGM of the Trustees to reflect the inclusive nature of the charity and remove any ambiguity which might deem it a religious or faith based charity.

The aims and objectives remain the same and is committed to serving any individual, family or group within the populations of the parishes of Tenterden, Smallhythe and St Michaels (and in some circumstances from villages outside this boundary if there are particular connections identified). This is done by awarding small monetary grants up to the sum of £350 and agreed by a minimum of two trustees to any individual, family or group who have been identified to the charity as being in need of help.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The main aims and objectives of the charity are as follows:

The Advancement of Education
The relief of Poverty, Sickness and Distress.

Particularly but not exclusively in the Parishes of Tenterden, St Michaels and Smallhythe by way of making monetary grants (including loans) to organisations or individuals.

Page 1

THE MILDRED TRUST REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

OBJECTIVES AND ACTIVITIES

Activities

In accordance with Aims and Objectives (1) The advancement of Education, in 2021/22 as the country eased out of the Covid19 pandemic, many children were found to be missing school due to anxiety and stress. The trust funded a course of Equine Facilitated Learning for a group of particularly vulnerable teenagers.This continued into the 2022/23 period.

In accordance with Aims and Objectives (2) The Relief of Poverty, Sickness and Distress. In 2022/23 awards were made to enable children living with disadvantage to attend school holiday creative workshops which included tea. Picnic lunch boxes for children were available throughout the school summer holiday for children and the freezer in The Old School House Larder was stocked with home cooked nutritional children's meals which parents/carers could access throughout the holidays when free school meals were unavailable.

In the winter months, the trust purchased a consignment of Slow Cookers to give to families to help reduce fuel costs for cooking. They were given recipe packs to encourage cooking from scratch with low cost, nutritional ingredients which they were able to buy at a subsidised price from the local butcher and fruit and vegetable market.

The Trust also provided a multi-generation picnic on the recreation ground where isolated older members of the community and families with children who were suffering disadvantage spent an enjoyable time having a picnic and engaging with games and sports and forging new friendships.

Activities ongoing with monies that were granted by the Town Council for Social Prescribing have included Play Therapy, Seated Exercise Classes, Baby Massage and a support group for parents whose children have autism or ASC.

With the rapidly expanding work of the charity and the growing sums of money being accrued as well as now involving volunteers on a regular basis, it was felt the charity needed some experienced advice about policies and procedures, especially with the things like data protection, communication and safeguarding. In line with the objectives of the charity, we have partnered with Repton Connect, a large established charity with similar objectives. We made a financial donation to their mobile foodbank which will service also some our rural families. For this donation, the CEO is working with us to re-imagine some of our activities/objectives and to help us draw up the necessary policies for a growing charity. In terms of income, we continue to be very grateful to the scores of individuals and businesses who support the charity with standing orders, to the organisations and clubs, among them, The Lions, The Weald Business Group, Tenterden Town Council, Ashford Borough Council, The U3A, The Horticulture Society and The Tenterden Club as well as all the faith donations who have made generous donations throughout the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1097210

Principal address

11 Elmfield Tenterden Kent TN30 6RE

Page 2

THE MILDRED TRUST

REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

Trustees

Mrs E Isworth Trustee (appointed 2.5.22) Mrs G F Bailey Sharples Trustee (appointed 17.3.23) Mrs L Webber Trustee Mrs S K Williamson Trustee Rev. Canon L J Hammond Trustee Mr R A Isworth Trustee Mrs A P White (appointed 15.5.23)

Independent Examiner

Nick May FCCA MMP Accounting Solutions Ltd Unit 34 Basepoint Shearway Business Park Folkestone Kent CT19 4RH Approved Jr 4) by: by order of the board of trustees on OL eon, 2004. and signed on its behalf

pa z Mrs E Isworth >-Frustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MILDRED TRUST

Independent examiner's report to the trustees of The Mildred Trust

I report to the charity trustees on my examination of the accounts of The Mildred Trust (the Trust) for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

i accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2s the accounts do not accord with those records; or 3; the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Nick May FCCA

MMP Accounting Solutions Ltd Unit 34 Basepoint Shearway Business Park Folkestone Kent CT19 4RH

22 March 2024

Page 4

THE MILDRED TRUST

STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2023

				31:3.23	31.3.22
		Unrestricted	Restricted	Total	Total
		fund	funds	funds	funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies		22,050	68,093	90,143	26,966
Investment income	2	35	110	145	4
Total		22,085	68,203	90,288	26,970
EXPENDITURE ON
Raising funds	3	3,070	27,836	30,906	9,612
Other		1,223	116	1,339	-
Total		4,293	27,952	32,245	9,612
NET INCOME		17,792	40,251	58,043	17,358
RECONCILIATION OF FUNDS
Total funds brought forward		15,359	35,850	51,209	33,851
TOTALFUNDSCARRIEDFORWARD		33,151	76,101	109,252	51,209

The notes form part of these financial statements

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Page 5

THE MILDRED TRUST

BALANCE SHEET 31 March 2023

				31.3.23	31.3:22
		Unrestricted	Restricted	Total	Total
		fund	funds	funds	funds
	Notes	£	£	£	3
CURRENT ASSETS
Stocks	6	-	505	505	-
Debtors	7	(1,099)	4,267	3,168	-
Cash at bank and in hand		35,330	77,088	112,418	52,439
		34,231	81,860	116,091	52,439
CREDITORS
Amounts falling due within one year	8	(1,080)	(5,759)	(6,839)	(1,230)
NETCURRENTASSETS		33,151	76,101	109,252	51,209
TOTAL ASSETS LESS CURRENT
LIABILITIES		33,151	76,101	109,252	51,209
NETASSETS		33,151	76,101	109,252	51,209
FUNDS	10
Unrestricted funds Restricted funds				33,151 76,101	15,359 35,850
TOTALFUNDS				109,252	51,209

The financial statements were approved by the Board of Trustees and authorised for issue on leeeeggerruseeesssuseseeessseeeesssseeesseees aNd Were Signed On its behalf by: d/* Faun JI2L

= G Sener eee eeeees SEEERRAIE eee Mrs E Iswoth- Trustee

The notes form part of these financial statements

Page 6

THE MILDRED TRUST

NOTES TO THE FINANCIAL STATEMENTS for the Year En h 202

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)', Financial 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.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

7 HS INVESTMENT INCOME

			3143.23	31.3.22
			£	£
Deposit	account	interest	145	4

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continued...

THE MILDRED TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023

3. RAISING FUNDS

Raising donations and legacies

Raising	donations and legacies
		31.3.23	31.3.22
Support	costs	£ 168	£ 193

TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

	There were no trustees' expenses paid for the yearended 31 March 2023 nor for the 31 March 2022.	There were no trustees' expenses paid for the yearended 31 March 2023 nor for the 31 March 2022.	There were no trustees' expenses paid for the yearended 31 March 2023 nor for the 31 March 2022.	year ended
5.	COMPARATIVES FORTHE STATEMENT OF FINANCIALACTIVITIES
		Unrestricted	Restricted	Total
		fund	funds	funds
	INCOME AND ENDOWMENTS FROM	£	£	£
	Donations and legacies	3,607	23,359	26,966
	Investment income	2	2	4
	Total	3,609	23,361	26,970
	EXPENDITURE ON
	Raising funds	6,495	3,117	9,612
	NETINCOME/(EXPENDITURE)	(2,886)	20,244	17,358
	RECONCILIATION OF FUNDS
	Total funds brought forward	18,245	15,606	33,851
	TOTAL FUNDS CARRIEDFORWARD	15,359	35,850	51,209
6.	STOCKS
			31.3,23	31.3.22
	Stocks		£ 505	£ =

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continued...

THE MILDRED TR

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023

7.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE	YEAR
				31.3.23	313.22
				£	£
	Other debtors			3,168	-
8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				31.3.23	31.3:22
				E	£
	Bank loans and overdrafts (see note 9)			490	-
	Other creditors			6,349	1,230
				6,839	1,230
9.	LOANS
	An analysis of the maturity of loans is given below:
				31.3.23	31.3.22
				£	£
	Amounts falling due within one year on demand:
	Bank overdrafts			490	-
10.	MOVEMENT IN FUNDS
				Net
				movement	At
		At	1.4.22	in funds	31.3.23
			£	£E	£
	Unrestricted funds
	General fund	15,359		17,792	33,151
	Restricted funds
	Old School House Larder	35,850		35,661	71,511
	Social Prescribing		-	4,590	4,590
		35,850		40,251	76,101
	TOTAL FUNDS	51,209		58,043	109,252
	Net movement in funds, included in the above are as follows:
		Incoming		Resources	Movement
		resources		expended	in funds
			£	£	£
	Unrestricted funds
	General fund	22,085		(4,293)	17,792
	Restricted funds
	Old School House Larder	59,540		(23,879)	35,661
	Social Prescribing		8,663	(4,073)	4,590
		68,203		(27,952)	40,251
	TOTALFUNDS	90,288		(32,245)	58,043

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continued...

THE MILDRED TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023

10. MOVEMENT IN FUNDS- continued

Comparatives for movement in funds

		Net
		movement	At
	At 1.4.21	in funds	31.3.22
	£	£	£
Unrestricted funds
General fund	18,245	(2,886)	15,359
Restricted funds
Old School House Larder	15,606	20,244	35,850
TOTALFUNDS	33,851	17,358	51,209

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	3,609	(6,495)	(2,886)
Restricted funds
Old School House Larder	23,361	(3,117)	20,244
TOTALFUNDS	26,970	(9,612)	17,358

A current year 12 months and prior year 12 months combined position is as follows:

		Net
		movement	At
	At 1.4.21	in funds	31.3.23
	£	£	£
Unrestricted funds
General fund	18,245	14,906	33,151
Restricted funds
Old School House Larder	15,606	55,905	71,511
Social Prescribing	-	4,590	4,590
	15,606	60,495	76,101
TOTALFUNDS	33,851	75,401	109,252

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continued...

THE MILDRED TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year h

10. MOVEMENT IN FUNDS- continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	25,694	(10,788)	14,906
Restricted funds
Old School House Larder	82,901	(26,996)	55,905
Social Prescribing	8,663	(4,073)	4,590
	91,564	(31,069)	60,495
TOTALFUNDS	117,258	(41,857)	75,401

TOTAL FUNDS

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

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THE MILDRED TRUST

	DETAILED STATEMENT OF FINANCIAL ACTIVITIES	DETAILED STATEMENT OF FINANCIAL ACTIVITIES	DETAILED STATEMENT OF FINANCIAL ACTIVITIES	DETAILED STATEMENT OF FINANCIAL ACTIVITIES
		for the Year Ended 31 March 2023		31.3.23	31,.3.22
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		£E	£	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Gift Aid Donations		-	12,212	12,212	-
Donations		3,049	32,065	35,114	18,751
Gift aid - HMRC		-	3,053	3,053	-
Donation Tenterden Comm Hub		15,000	8,663	23,663	-
Grants		4,001	12,100	16,101	8,215
		22,050	68,093	90,143	26,966
Investment income
Deposit account interest		35	110	145	4
Total incoming resources		22,085	68,203	90,288	26,970
EXPENDITURE
Other trading activities
Room hire		-	1,680	1,680	1,230
Funding activities		3,070	4,073	7,143	~
General distributions		-	1,387	1,387	928
Food & cleaning distributions		-	20,457	20,457	7,261
Hospitality distributions		-	229	229	-
Hygiene product distributions		-	347	347	-
Closing stock		-	(505)	(505)	-
		3,070	27,668	30,738	9,419
Support costs
Governance costs
Telephone		143	=	143	-
Postage and stationery		-	116	116	-
Sundries		-	168	168	193
Accountancy and legal	fees	1,080	-	1,080	-
		1,223	284	1,507	193
Total resources expended		4,293	27,952	32,245	9,612
Netincome		17,792	40,251	58,043	17,358

This page does not form part of the statutory financial statements

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