; 

## MAG FOUNDATION LIMITED 

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 

Charity No. 1100274 

Company No. 04738823 

Armstrongs Bishop Simmons Limited Gethin House 36 Bond Street Nuneaton Warwickshire CV11 4DA 



MAG FOUNDATION LIMITED (Company Limited by Guarantee) 

## Year Ended 31 July 2021 

## CONTENTS 


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|---|---|---|---|---|---|---|
|Page|
|Report|of the|Trustees|1-2|
|Independent Examiner’s|Report|3|
|Statement|of Financial|Activities|4|
|Balance|Sheet|5|
|Notes|forming|part|of the|financial|statements|6-9|

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Page 1 

MAG FOUNDATION LIMITED (Company Limited by Guarantee) 

## Report of the Trustees for the year ended 31 July 2021 

## Reference and Administrative Information 

|CharityName:|MAG Foundation Limited|
|---|---|
|Charity RegistrationNumber:|1100274|
|Company RegistrationNumber:|04738823|
|Registered Office and|Unit C13|
|Operational Address:|Holly Farm Business Park|
||Honiley|
||Kenilworth|
||CV8INP|



## Trustees 

RJ Wilson F Colson A W Cox PN McFadden Mrs D Rose 

Accountants Bishop Simmons Limited Mitre House School Road Bulkington Bedworth Warwickshire CV12 9JB 

## Bankers 

The Royal Bank of Scotland 17 Church Street Rugby Warwickshire CV21 3PB 



Page 2 

## MAG FOUNDATION LIMITED (Company Limited by Guarantee) 

## Report of the Trustees for the year ended 31 July 2021 

## Structure, Governance and Management 

## Governing Document 

MAG Foundation Limited is a charitable company limited by guarantee, incorporated on 17 April 2003 and registered as a charity on 23 October 2003. The charitable company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the charitable company being wound up members are required to contribute an amount not exceeding £1.00. 

The management of the charitable company is the responsibility of the trustees, who are elected and coopted under the terms of the Articles of Association. 

The trustees discuss the activities of the charitable company on a regular basis, based on the amount and complexity of the activities the charitable company is involved in. 

## Risk management 

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 

## Aims and Objectives 

The charity’s purpose, as set out in the objects contained in the company’s Memorandum of Association are - “ to promote for the public benefit awareness and understanding of environmental road safety and security issues relating to the use of two wheeledpowered vehicles and to research and investigate solutions to these topics.” 

## Achievement and Performance 

The Foundation has further investigated thefts in each of the police force area's and compared them to previous years. This project will continue and expand to seek improvements and good practise to share with all forces. The pandemic has caused further hindrance with planned activities and events, so these have been postponed until restrictions have been removed. A large donation was received as a further instalment of the bequest. Once all restrictions have been removed and our planned activities have restarted, we will be in a better position to restart the process with the THINK! campaign as an example. This report has been prepared in accordance with FRS102 SORP and the provisions applicable to companies subject to the smal! companies regime. 

Approved by the Board of Trustees at their meeting on 18 December 2020 and signed on its behalf by: 

RJ Wilson 



Page 3 

MAG FOUNDATION LIMITED (Company Limited by Guarantee) 

## Year ended 31 July 2021 

Independent Examiner’s Report to the Trustees of MAG Foundation Limited [ report to the charity trustees on my examination of the accounts of the company for the year ended 31 July 2021, which are set out on pages 4 — 9. 

## Responsibilities and basis of report 

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). 

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## Independent examiner’s statement 

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

1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records: or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)}]. 

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. 


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4wu Biggs<br>**----- End of picture text -----**<br>


Mrs J A Biggs, FCCA, CTA, Armstrongs Bishop Simmons Limited Chartered Accountants Gethin House, 36 Bond Street Nuneaton Warwickshire CV11 4DA 

Date: 4 February 2022 



Page 4 

## MAG FOUNDATION LIMITED (Company Limited by Guarantee) 

## Statement of Financial Activities for the year ended 31 July 2021 

|||Unrestricted|Restricted|2021|2020|
|---|---|---|---|---|---|
||Notes|Funds|Funds|Total|Total|
|||£|£|£|£|
|Income and Endowments from:||||||
|Donations and legacies||||||
|Donations and grants||60,993|-|60,993|1,318|
|Total Income||60,993|0|60,993|1,318|
|Expenditure on:||||||
|Charitable Activities|2|12,985|-|12,985|2,500|
|TotalExpenditure||12,985|0|12,985|2,500|
|Net Income/(Expenditure)||48,008|0|48,008|(1,182)|
|Transfers between funds||-|-|-|-|
|Netmovement in funds||48,008|0|48,008|(1,182)|
|Reconciliation ofFunds||||||
|Total funds at<br>1 August 2020||1,035|2,903|3,938|5,120|
|TotalFundsat31July2021|9|49,043|2,903|51,946|3,938|



There were no recognised gains or losses in 2020 and 2021 other than those included in the Statement of Financial Activities. 



Page 5 

MAG FOUNDATION LIMITED (Company Limited by Guarantee) 

Balance Sheet as at 31 July 2021 


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Notes 2021 2020<br>£ £ £ £<br>Current Assets<br>Debtors 3 - -<br>Cash at Bank and in Hand 52,653 8,530<br>52,653 8,530<br>Creditors<br>Amounts falling due within one year 4 (707) (4,592)<br>Net Current Assets 51,946 3,938<br>NET ASSETS 7 51,946 3,938<br>Funds<br>Unrestricted Funds<br>Designated Funds 0 0<br>General Funds 9 49,043 1,035<br>49,043 1,035<br>Restricted Funds 9 2,903 2,903<br>51,946 3,938<br>**----- End of picture text -----**<br>


For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

## Directors’ responsibilities: 

* The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; 

* — The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP and were approved by the“4we 4February.2022-and— “signtgron its behalf. 

Company registration no: 04738823 

| 

The notes on pages 6 to 9 form part of the accounts. 



Page 6 

## MAG FOUNDATION LIMITED (Company Limited by Guarantee) 

Notes to the Accounts for the year ended 31 July 2021 

## 1. Accounting Policies 

## Basis of Accounting 

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. 

The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011. 

The charity constitutes a public benefit entity as defined by FRS 102. 

## Incoming Resources 

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: 

Donations are included in full in the statement of financial activities when receivable. 

Investment income is included when receivable. 

## Resources Expended 

Resources expended are included in the Statement of Financial Activities on an accruals basis, including Value Added Tax. 

Charitable expenditure comprises those costs incurred by the charity in deliverance of its activities and services for its beneficiaries. 

Expenditure which is directly attributable to specific activities has been included in these categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources. 

## Fund Accounting 

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criteria is charged to the fund. 

Designated Funds are unrestricted funds earmarked by the Board of Trustees for particular purposes. 

: 

Unrestricted Funds are incoming resources receivable or generated for the objects of the charity without further specified purposes and are available as general funds. 



Page 7 

MAG FOUNDATION LIMITED 

## (Company Limited by Guarantee) 

Notes to the Accounts for the year ended 31 July 2021 

## 2 Charitable Activities 

. 

|2|Charitable Activities|||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|2021|2020|
|||Funds|Funds|Total|Total|
|||£|£|£|£|
||Goods purchased for resale|2,514|-|2,514|-|
||Fund raising costs|1,395|-|1,395|500|
||Administration costs|720|-|720|360|
||Donations|4,096|-|4,096|660|
||Sundry expenses|3,013|-|3,013|13|
||Consultancy fees|420|-|420|288|
||Management fees|240|-|240|120|
||Accountancy charges|500|-|500|480|
||Bank charges|87|-|87|79|
|||12,985|-|12,985|2,500|
|3|Debtors||2021||2020|
||||£||£|
||Other Debtors||-||-|
|4|Creditors: Amounts falling duewithin|oneyear|2021||2020|
||||£||£|
||Trade Creditors||187||1,454|
||Other Creditors||520||3,138|
||||707||4,592|
|5|NetMovement ofFund for theyear|||||
||is stated after charging:||2021||2020|
||||£||£|
||Accountancy||500||480|





Page 8 

MAG FOUNDATION LIMITED (Company Limited by Guarantee) 

Notes to the Accounts for the year ended 31 July 2021 

## 6 Trustees’ remuneration and benefits 

No remuneration was paid to trustees in the year, nor were any trustees expenses reimbursed. 

## 7 Analysis of Net Assets Between Funds 

|7|Analysis of NetNet Assets Between Funds||||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||Funds|Funds|2021|
|||£|£|£|
||Current Assets|49,750|2,903|52,653|
||Current Liabilities|(707)|-|(707)|
||Net Assets at31 July 2021|49,043|2,903|51,946|
|8|Related Party Transactions||||
|||2021||2020|
|||£||£|
||The Motorcycle Action Group Limited||||
||Donations received|-||-|
||Expenses recharged|1,395||660|
||Donations paid|4,097||-|
||Balance owed to The Motorcycle Action||||
||Group Limited at 31 July 2021|-||-2,638|
||NiceEmployer Limited||||
||Administration, Management and||||
||Consultancy fees recharged|1,380||768|
||Balance owed to Nice EmployerLimited||||
||at 31 July 2021|-180||-948|
||MAG Media Limited||||
||Fund raising costs recharged|-||500|
||Balance owed to MAG Media Limited at||||
||31July2021|-||-500|





Page 9 

9 Movement in funds 

## MAG FOUNDATION LIMITED 

## (Company Limited by Guarantee) 

Notes to the Accounts for the year ended 31 July 2021 

|Movement in funds||||||||
|---|---|---|---|---|---|---|---|
||||||Transfers|||
||At31|July|Incoming|Outgoing|between|At31|July|
||2020||Resources|Resources|funds|2021||
||£||£|£|£|£||
|Unrestrictedfunds:||||||||
|General funds||1,035|60,993|12,985|-|49,043||
|Restrictedfunds:||||||||
|Road Safety||1,141|-|-|-||1,141|
|Booklet||1,762|-|-|-||1,762|
|||3,938|60,993|12,985|-|51,946||



## Purpose of restricted funds: 

Road Safety -a donation was received towards the costs of campaigning for road safety in Scotland. Booklet -a donation was received to produce a booklet detailing secure parking areas for motorcycles in the UK.