Charity reglstratlon numb•r 1100377 (England and Wales) Company roglstration number 04583140 THE MAKHAD TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 OCTOBER 2024 Makhad People Spirit Environment
THE MAKHAD TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustegs Mr M R Ralcliffe MBE Mrs E H Cranston Mrs R G Devas DrSARSamra Mr R Slainer Charity number (England and Wales) 1100377 Company number 04583140 Registered offrce Wolseley House Oriel Road Chellenham Gloucestershire Unlled Klngdon) GL50 1TH Independent èX8mlnèr BK Plus Limited 6 M8nor Park Business Centre Mackenzie Way Chellenham Gloucestershire England GL519TX Bankers Lloyds Bank PIC HSBC Solicitors Willans 28 Imperial Square Chellenham GIDuceslershire GL50 1RH
THE MAKHAD TRUST CONTENTS Page Tru51ees' report Independent examiner's report Slalement of financial a¢livilies Slalemenl of financial position Notes lo the financial statements 9-15
THE MAKHAD TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 28 OCTOBER 2024 The trustees present their annual report and fi'nancial slalemenls for the year ended 28 October 2024. Th6 financial slatem@nls have been prepared in accordance with the accounting policies sel out in note 1 to the financial slalements and comply wlh the charity's governing document, the Compsni&s Act 2006, FRS 102 "The FinanGial Reporting Standard applicable in the UK and R&public of IrBland and the Charities SORP "A¢¢ounling and Reporting by Charilieg.. Slalemenl of Recommended Practice applicable lo ch8riliès preparing théir accounts in acGordanGe with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" Oblgctlves and a¢tlvltlo5 Objectives and aims The objectives of the Charity are lo raise awareness of the value of the nalui81 heritage ol nomadlc reglons through education and the provision ol financial, technical and olher assistance. Publlc beneflt In planning the Charity'5 8clivilies fgr the period the Truslees kept in mind the Charity Commission's guidance on public benefit. The focus ol the Charity's activities during the period. which explains the delivery by the Charity ol public benefit, is sel out below under A¢hievemenls and performance. and above under'objectives and aims,. The Iruslees have paid due regard to guldance issued by the Charity Commission in deciding what activities the chaiily should undertake. Achlevements and perfoymance Charitable activltlas The Trust's objectives have continued in the South Sinai province of Egypt with the majority Df work being carried out in St Kalherine's City 8nd in the surrounding high mountains and wadis. The Political situation in the country has Continued lo remain slable. Actlvltl•s and Projottts The Charity s activities have continued lo follow the prr)ven schedule of four project trips lo Sinai during the ¢harily year. Incoming funds enabled thè commencement of lifty-one new well restorab'ons, just over our target of fifty restorations in a year. As the number of completed restorations was fifty wells, this shows th81 the proj6Ct is cycling through the r&sloralions al a steady Gontinuous rate. Since the Hamas allaGks on 7 October 2023. there have been lew tourists in the high mountains, mostly Egyptians on short trips, and so little work for the Bedouin guides and camels. Tourist numbers visiting the Monastery remain stable which has given some work for men with camels, bul the more lucrative work lor Bedouin men, taking people trekking in the mountains has become the exception. Tourism in South Sinai has once again been affected by woild and local events with delrlmental effects on Bedouin family income. As a consequence, an ever increasing nutllbei of Bedouin families have Bonlinued lo look lo Ihelr ancient family gardens as as5els', in supporting them with food and a small income from the sale of rpluS food, provided they have sufficient water in their wells. The Makhad TTUSI has for nearly 20 years now bn as5151ing Bedouin communities where water has tr)een in short supply,, due lo reduclng water levels within the garden wells. 11 is unfortunate there has now been little rain for more than the last year in the region. The mountains had a good fall of rain during March 2023 bul have had little since, and as a result, water levels Ihyoughoul the whole region have continued lo decrease. The Reconslruclion of St Kalherine's, turning the town into a modern lourlsl deslinalion, continues for the fourth year. Although some infra-slruclure projects such as drainage and sewerage are only just in the piocess of bein9 started, the majority of the building structures are completed and undergoing internal filmenls., allowing many conslruclions workers lo return home. The large resiclenlial cornplex is al last allowing the Bedouins lo see how il will look when finished, bul il is clear that most of the facilities being provicled are aimed al the higher end of the tourism market., with luxury apartments hDlels and shops built lo cater for a wealthy clientele.
THE MAKHAD TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2024 A¢th"vities and Projects - ¢ontlnued Sl Kalherines town has been planled with thousands of olive and almond trees which will turn the town green and pleasant as the authorities continue lo water them. Whilst an old Eijropean Union project lo provide the town with water via a pipeline from the River Nile has been resurrected, using water from a desalination plant on the coast, it is unfortunate that the still slightly sally water is consid&red suilabl? only for washing and watering olive trees, whilst other trees could wither and die if fed the saline solution. The conlrasl between the new modèrn bulldings and the Bedouin houses and th& Bedouin way of life has inevitably becorne ever mole heightened, although il does look as though the town has settled down into becoming a Bedouin lowri again, al least for the lime being. Inflation in the Egyptian economy remains al high levels, and as is so often Ihts case affects the poorest peoplfr in society, and in particular the BedDuin. Food prices have continued lo increase end many families no IDnger buy meal products. 11 is most fortunate that the many Bedouin gardens now having a supply of water provide the ability to grow vegetables, and thus contribute lo the nulrilional needs of the fatnily. Growing cash crops is one of th8 few ways remaining which allows a relatively small additiona1 income to be earned. Wells The Trijsl has been helping with the resloralion of ancient garden wells for just over 17 years now, and in October 2024 the number Df completed well resloralitsns reached a magnificent number of some 661. This rÉprèsenls IDcal access lo Clean well water for over 41,000 Bedouin men, women and children, no mean achievement by any standard. With an increasing supply Bedouins are able lo drink more water, grow fresh vegetables for family Consumption and even provide cash crops, plant trees which survive, and keep not only g0819 bul also camels. All of which enriches their general health and wellbeing enabling them lo live more sustainable and independent lives. whilst preserving their culture and heritage. A plentiful water supply also allDWS Bedouin from Dther towns and communities on the coast neaiby lo bring their grazing animals into the desert highlands during summer months. helping lo support the family income. Consequently the deepened and restored wells are especially important, being the only Sour of quality water, particularly during limes of droLJght, as currently being experi&nced. Of the 661 wells restored by the end of this financial year, some 321 are orchard garden we15s and 340 are community drinking we11s. Clearly 8$ the population continues to increase and the annual rainfall is Virtually at zefo, there a sllll many wells which need lo be restored lo support the Bedouin families and their communities. AnolheT factor which also now needs to be taken into greater account is the reconslruclion of Sl ¥Btherine's, which hag causèd an increasing number of families to retreat lo their mountain gardens during the long summer. This return lo thelr Bedouin roots has, as previously mentioned, assisted in supporting their heritage way of life and the old Iradilions. which might otherwise have become completely lost. Dams As in the previous year il is good to report that Iwo dam building trips for UK residents were scheduled for Autumn 2024, both being succe591ul. The IITSt trip look place in September and was led by two of the Trustees. when they successfully built two small dams in a high mountain wadi, helping to support around 100 orchard gaideTrs below. The second dam journey look place in early Octobèr and consisted of four members of the publi¢, and a eonlingenl of five people from one of our sister charities, Caring for Communities & People {CCPI', an organisalion which helps young people in particular, who havè had difficult childhoods and often become homeless, 11 is pleasing lo report that il was a successful Irtp. conlfibuling lo leadership skills and self-developmenl particularly of the CCP participants. 11 is hoped that CCP wll want lo work wllh the Makhad Tru81 again in the future, bringing benefits lo both the Bedouin with the provision of more dams, whilst also benefiting the young people from CCP, who sland lo gain a great deal from being on such an advenlLtrous and challenging journey.
THE MAKHAD TRUST TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 28 ocn?BER 2024 Seedbank This small proiecl was insligaled a number C>f ye8rs ago, when vegetable seeds were given to a Bedouin in Sl Kalheiine's who has a large garden. Mahmoud Hassan has since acted as the Se&db¥nk Custodian, growi ng some of the seeds into mature plants then hatvesling the seeds lor future use, and also dislribuling these segds lo Bedouin garden owners, who are unable because of both access and cost, to buy quslity seeds themselves. Beekeeplng Trainlng Despite a number of funding applicelions, fund5 to dale have not been forthcomlng for this project during 2024. Nevertheless application5 will continue lo be sent lo charitable Irusls for another Beekeeping Training Course and il is hoped that this might be possible in the forthcoming year. In the meantime we are pleased lo report that all DI the twenly-five beekeepers who have graduated from courses since 2016 continue lo manage their bee keeping programs and many have increased their nurnber of hives. 11 is clear there is a good living lo be earnl fiom keeping bees, and il is most gratifying to see the continued beneficial impact of this project in so many different way5 on the famili6s involvèd. Orphan Heyb Project This project has continued in a low-key fashion over the last four years, largely because the orphan's 18acher has had increased engagement from the University of Alexandria. where he ltsachBs medical students the medicinal benefits of endogenous herbs from South Sinai. Although well ple8sed that the students hav8 had such an esteemed teacher, it is hoped that an assistant can be found lo run future coursa8. The training course for young people whose father's have died. continues lo support disadvantaged children by providing emotional support from Iheir peers and additional education Gomplitnenling their slate education. 11 is fell the long term benefits provide a way of financially SUPKX)rting the orphans and their families, which together with an increase in knowledge covering medicinal plants, does make the project most worthwhile. st Katherlne's Carpentry School The reconslruclion of Sl Kalherine's town has continued lo have an effect on this project. All of the potential recipients of the training programs continue to have paid work with thè eonslruclitsn companies, doing menial work such as guarding equiprnent siles. Whilst il is recognised that this situation will continue for some lime longer, it is hoped that the young men will realise al some point that there is little future in this type ol work and they can do beller for themselves by receiving some form ol training. When the situation changes. the Carpentry School is poised lo come back into action. St Katherine'5 Library 11 is 16n years since th@ library for women and children was set up in a room al the City Council building. The library closed during the pandemi¢ and has not reopened. the building being scheduled for demolition as part of the town's reconstruction programme. Whilst a new Cily Council building has now been built, il is understood that this new building is not an inviting place for Bedouin women, who need lo be sure that they wi11 not come into contact with men who are not of their family. 11 is hopeol howover that some form ol women and children's centre may be possible in the not loo distant future, through co-operating with and supporting a small group of BedoLJin wc>men Wlshing lo make the centre a realily. Dryin9 Racks This project began in September 2020 following a request for support by women garden owners. A major portion ol the produce from orchard gardens consists of soft fruit, including aprlcols, figs, apples, pears, grapes, plumbs and peaches. Most of Ihls fruit is dried on the ground in the sun to extend ils saleabilily lime., bul unfortunately significant proportion of the fruit is damaged by InseGls, dust, gravel or by birds. The provision of drying racks logèlher with a nel being the answer. With both imprc)ved quality 8nd quanlily, allowing more fruit to ba sold, there would be an increased income for the women garden owners. It is unfortunate this project will continue to be on hold until such lime as the women garden owners clearly d@cide lo lake up the opportunity bein9 provided.
THE MAKHAD TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2024 The Laundry Project This little project has beneliled a small group of BedoLJin women in the town of Sl Kalh¢rine's who historically collected water lo lake hom& to Llo thèir washing. However, a recenlly restored well in a neighbc>ur's garden has caused them lo iealise that il is much easier for them lo transport their dry washing lo the water, and so together thèy set up Iheir'old Ic)p loading, washing machines in that garden. A small grant has enabled a size8ble area to be paved, three large low-level s1nks installed and importantly, the washing machines safely rewired. New drainage channels have allowed the waste water to irrigate nearby trees, providing a further benefit. The Bedouin ladies have become well pleased with these new arrangements and this small novel project has given other garden owners the opportunity of bringing together mole Bedouin women, meeting regularly lo do their washing and sharing their family stories. ERIK Fund {Emer9encles, Rapalrs and Incidentals Kitty) This fund has now been giving small grants lo Bedouins for some Iwo years. To dale, funds have bn used lo purchase a fence safeguarding 8 m81ure g8rdan against stray animals,. providing quality water hoses for a key dr(nking well, piping water some 2km ID the town., saved an ancient mulberry tree whose roots had become exposed., provided 8 Climbing harness for a wè51-digger to acc&ss wells safely, and provided 6 water tanks adjacent lo drinking wells lo allow easier access throughout the day Currently there is a short Wailing list for olh8r water tanks and this small yel important fund ha5 the potential ability to help any Bedouin in dir¢ need, Financlal revlew Investment pollcy and objoctlV•5 Due to the relatively low level of funds available for investment, the Trustees consider that bank deposits provide a Salisfaclory return lo the Charity. Re$arv•$ polScy The TrLJStees annLJally review the Reserves Policy bearing in mind the current and anlicipaled financial performance of the charity. The Trustees consider it appropriate for there lo be sufficient Unreslricled Funds lo cover six months unreslricled charitable expenditure in the unlikely event that there is a rnalerial reduction In income. Based on the Slalement ol Fin8nci?l Activities for the year ended 28 October 2024, unreslricled charitable expenditLJre, excluding project costs, amounted to £882 12023.. £3,913) and consequently the policy would require unreslricled funds as al 28 October 2024 of £441 12023.. £1,957). The actual unreslricled funds, excluding designalecj funds, were £37,535 (2023.. £33,7191, which therefore shows a surplus from the reserves policy of £37,09412023. £31.7621- The Trustees have c8reftJlly reviewed the surplus to the reserves policy and have concluded that il will be ulilised by the cre2lioll of further wells which will fully benefit the Bedouin populace, in addition lo providing additional financial support for the other ongoing programs as needed. The Trustees have sel aside £23,827 of a generous legacy received in late 2023 as a designated Bedc>uin Community Fund lor specific communlly projects. Sine the year-end the charity has taken on an additional member of the leatn to manage this project. Plans for futurè periods The programmes currently undertaken continue lo address the fundamental essentials of life, whi¢h is the provision of water, food and education. With some 661 wells now restored and capablB of providing a good supply of clean water lo both garden families and communities, supporting in excess of 41,000 Bedouin, thè objèctives of providing relief Iwaler and food) by financial support are being mtsl in order lo protect the national, cultural and spiritual heritage Df a nomadic region, the Bedouin people and theii ancient gardens. The charitable objectives for the advancement of education of the public in the cultural and environmental heritage ol a nomadic region are being mel by Sinal Journeys Ltd, through the Introduction of people from the UK lo the cullure and landscape of the Bedouin people in South Sinai.
THE MAKHAD TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2024 Structurei governance and management Governing document The Charity is governed by ils Memorandum and Articles ofAssocialion dated 6 November 2002. Recruitment and appointment of new tru5tee5 The power lo appoint new Iruslees is vested in surviving and continuing trustees. Organisational structure The Charity is incorporated as a company limited by guarantee. and therefore il has no share capital. In the event ol the company being wound up and the liabilities and winding up expenses being in excess of assets, the liability Df each membei is limited lo £1. The charity is controlled by a Board of Trustees, which meets on a regular basis. Risk managam•nt The Trustees actively review the major risks that the Charity faces on a regular basis and believe that maintaining ils current reserves policy, combined with an annual review of the controls over key financial systems, will provide sufficient resource for the Charity going forward. The Trustees have also examined olh&r operational and business risks laced by the Charity and confirm that they have established systems lo miligale the significant risks. Statement of Trustees. Responsibilities The Iruslees, who are also the directors of The Makhad Trust for the purpose of company law, are responsible for preparing the Trustees, Report and the financial slalemenls in accordance with applicablè law and United Kingdom A¢untIng Standards (United Kingdom Gènerally Accepted Accounting Piaclicel. Company law requires thè Iruslees lo prepare financial slalemenls for each financial year which give a true and fair view ol the slate of affairs of the Gharily and of the incoming resources and application of iesources, including the income and expenditure. of the charitable company for that year. In preparing these financial slalemen15, the Iruslees are required lo.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent., and prepare the Iinancial slalemenls on the going concern basis unless il is inappropriate lo presume that the charity will continue in operation. The Iruslees are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safegvarding the assets of the Charity and hence for lakino reasonable steps for the prevention and detection of fraud and other irregularities. The trus report was approved by the Board of TrLJslees. MrMRRa Trustee iffe BE 23 May 2025
THE MAKHAD TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MAKHAD TRUST I report lo the Iruslees on my examination of the financial statements of The Makhad Trust Ilhe charity) for the year ended 28 October 2024. R•sponslbllltle$ and bas1$ of report As the Iruslees of the charity land also its dlreclors lor the purposes of Company lawl, you are responsible for the preparation of the financlal slalemenls In accofdance with the requirements of the Companies Act 2006. Having salisfi&d mysèlf that thè financial slalemenls of the charity are not required lo be audited under Part 16 01 thts Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the ch8rily's linan¢ial slalements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the ChariliÈs Act 2011. Ind•p¢nd•nt examlner's statement I have completed my examination. l ¢onlirm that no mallers have come to my allenlion in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006. the financial statements do not accord with those records., or the financial slalemenls do not comply wilh the accounting requirements of section 396 of the Companies Act 2006 othèr than any requirem&nl that the linancial sl8lemenls give a true and lair view. which is not a matter considered as port of an independent examination., or the financi81 slalemenls have not been prepared in 8c¢ordance with the methods and princlples of the Slalemenl of Recommended Praclice for accounting and reporting by chaiilies applicable lo charities prep8ring th&ir financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come scross no olh&r matters in connection with the examination lo which attention should be drawn In this rewrt in ordef lo enable a propel understanding of the financial slalemenls lo be reached. Rar F Downes FCA BK Plus Limited Chartered Certified Accounlanls 6 Manor Park Businèss Centre Mackenzie Way Chellenham Gloucestershire GL51 9TX England 23 May 2025
THE MAKHAD TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR EJVDED 28 ocfoBER 2024 Unr8Strlcted Restricted fund5 funds 2024 2024 Total Unrestrlctett Restricted funds funds 2023 2023 Total 2024 2023 Notos Income from: Donations and legacies Other trading activilies Investments 210 3,432 1,056 70,949 71,159 3,432 1.056 2,070 3,610 84,856 86,926 3,610 Total income 4,698 70,949 75,647 5,681 84,85 90,537 Expondlture on: Charitable activities 882 68,550 69,432 3,913 64,081 67,994 Total expenditure 882 68,55f) 69,432 3,913 64,081 67,994 Net in¢ome 3,816 2,399 6,215 1,768 20,775 22,543 Transfers between funds 23,827 123,8271 9,932 19,9321 Net movemant In funds 27,843 121,4281 6,215 11,700 10,843 22,543 Reconcillatlon of funds: Fund balances al 29 October 2023 33,719 41,020 74,739 22.019 30,177 52,196 Fund balane•s at 28 October 2024 61,382 19,592 80.954 33,7t9 41,020 74,739
THE MAKHAD TRUST STATEMENT OF FINANCIAL POSITION AS A T 28 OCTOBER 2024 2024 2023 Not•s Fixed assets Investments Current asset5 Debtors Cash al bank and in hand 10,278 75,869 4.517 74,973 86,147 79,490 Creditors: amounts falllng due within one year 10 15.1941 14,7521 Net ¢urr•nt •s$et$ 80.953 74,738 Total assets less current liabilitie5 80,954 74,739 Th• funds of tho charity Reslricled income funds Unrestricted funds 11 12 19,592 61,362 41,020 33,719 80,954 74,739 The company is enlilled lo the exemption from the audit requiTemenl contained in section 477 of th& Companies Act 2006, for the year ended 28 October 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial slalemenls. The members have not required the company to Dblain an audit of ils financial slalemenls ftsr th& year in question in accordance with section 476. These financial sialemenls have been prepared in accordance with the provisions applicable lo companies subject lo the small companies regirne. The fina ial slalemenls were approved by the Iruslees on 23 May 2025 MrMRRa Trustee Company registration number 04583140 IEnglanLI and Wales)
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 OCTOBER 2024 A¢countlng pollcies Charity informallon The Makhad Trust is a private cornpany limited by guarante& incorporated in England and Wale5. The registered office is Vvolseley House, Oriel Road, Chellenham, Glouceslershire, GL50 1TH, United Klngdom. 1.1 Accounting convetttlon The financial slalémènls have been prepared in accorcEance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic ol Irèland and the Charities SORP 'Accounling and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo ¢h8rilies preparing their accounts in accordaaGe with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 The charity 18 a Public Benefit Enlily as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charilieg not lo prepare a Statent ol cash flows. The financial slalemenls are preparecl In steding, which is the functional currency of the charity. Monètary amounts in these financial slalemenls are rounded lo the nearest £. The financial slalemenls have been prepared under the historical cost convenllon. The principal accounting policies adDpled are sèt out below. 1.2 Going concorn At the Ilme of approving the financial slalemenls, the Iruslees have a reasonable expeclalion that the charity has adequate resources lo continue in operational existence for thé foreseeable future. Thus the Iruslees continue lo adopt the going concern basis of accounting in pieparing the financial slalemenls. 1.3 Chayltable funds Unreslricled funds can be used in accordance with the ch8rilable objectives al the discretion of the trustees, Reslricled funds can only be used lor partlcular reslricled purposes within the objects of the charity. ReslricliDns arise when specifted by the donor or when funds are raised for particular reslricled purposes. Further oxplanalion of the nature and Pufpose of e8ch fund is included in the notes lo the Iinancial slalemenls 1.4 Income All inGome is re¢ognised in the Statement of Financial Activities once the charity has enlillemenl lo the funds, it is probable that the income will be recenied and Ihe amount can measured reliably. 1.5 Expendituro Liabilities are recognised as expendllure as soon as there is a legal or constructive obligation Commilling th& charity lo that expenditure, il is probable that a transfer of economic benefits will be required in selllemenl and Ihe amount of the obligation can be ffleasred reliably. Expenditure is accounted for on an ac¢ru8ls basis and has been classified under headings th81 aggrÈgal& all cost related lo the calegoiy. Whtsre costs cannot be directly allribuled lo particular headings Ihtsy have begn allocated lo activities on a basis consistent with the use of resources. 1.6 Fixed asset Investment5 Fixed asset Investments ara initially measured al transaction price excluding transaction Costs, and are subsequently rneasured faif value al each reporting dale. Changes in lair value are recognised in nel incomellexpenditurel for the year. Transaction costs are expensed as incuried.
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2024 Incomo from donatlons and l&yacies Urtr•$tri¢ted Restrlctetl fuhd$ furtd$ Total Unrestrlcted ReÉtrlctad Total funds luhd8 2024 2024 2024 2023 2023 2023 Donations and gifts 210 70,949 71,159 2,070 84,856 86,926 Income from oth•r trading a¢tivillès Unrestrlcted Unrestrlcted funds fund5 2024 2023 Fundraising events 3,432 3,610 Expendlture on charitable activitlos Total 2024 Total 2023 Dlrect costs Rates and insurance Postage, slalionèry, telephone and advertising Sundries Project costs Resèarch and fundraising BDokkeeping and admin 8UPPOrt Bank charges Marketing Independent examiner's fees Other costs 1.027 256 216 57.240 3,120 4,307 452 1,812 1,002 1,509 1,310 231 50,485 3,120 4,133 447 1,898 948 3,913 69,432 67,994 Analys15 by fund Unreslri¢led fund5 Reslricled funds 882 68,550 3,913 64,081 69.432 67,994 Trustee5 During the year, two of the Iruslees received £17,960 {2023'. £15,892) on an arms, length basis for services contracted and for associated Ir8vel expenses. 10-
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 ocfoBER 2024 Employee5 The average monthly number of employees during the year was.. 2024 Numb•r 2023 Numbor Tc>lal There were no employees whose annual remuneration was more than £SO,000. Taxation The ¢harily is ex8mpl from laxalion on ils aclivilies because all ils income is applied for charitable purposes. 11 is not, however, exempl from VAT and Irreverab1e VAT is included in the cost of those items lo which il relates. Flxad assot inv•stmants Other investments C05t or valuation Al 29 Oclobor 2023 & 28 October 2024 Carrylng amount Al 28 October 2024 Al 28 October 2023 2024 2023 Other investments comprise.. Notes Investments in subsidiaries Debtor$ 2024 2023 Amounts fallin9 due within one year. Amounts owed by subsidiary undertakings Prepayments and accrued income 9,776 502 3,990 527 10,278 4,517 Since the year end, the 8ub5idiary has paid £9,000 of ils debt up lo the parent charitable company.
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2024 10 Craditors: amounts falling duo within one year 2024 2023 Other loans Trade creditors Aecruals and deferred income 2.000 2,210 984 2,000 573 2,179 5.194 4,752 11 Re5tncted fund5 The reslricled funds of Ihe charily comprise the unexpended balances of donations and grants held on trust subject lo specific condilic>ns by donors as lo how they may be used. At29 October 2023 Incoming Resources resources expended Transfers At28 October 2024 Ancient Garden Wells Programrne Orphan Herb Garden Carpentry School Dam Build 2020 Garden Drying Racks Solar Pump Project Bedouin Cooperative ERIK EmergenGy Laundry Project P51 Weaving and Textiles 23,737 401 2,775 1,725 434 7,466 2,000 2,405 77 67,050 165,1081 122,3381 3,341 401 2,775 181 434 7,466 2,000 2,244 77 673 1,359 11.4141 11,4891 1,771 11,9321 769 1961 41,020 70,949 168,5501 123,8271 19,592 12-
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2024 11 Restrlcted funds {Contlnu6d) Prevlous Yr. At29 Octobèr 2022 Incominy Resources resources expended Transfer5 At28 October 2023 Ancient Garden Wèlls Programme Orphan Herb Garden C8rpenlry School Dam Build 2020 Carden Drying Racks Solar Pump Project Bedouin Cooperative ERIK Emergency Laundry Project 15.436 401 1,900 2,302 434 7,466 2,000 161 77 78,265 160,541) 19,4231 23,737 401 2,775 1,725 434 7,466 2,000 2,405 77 1,000 1,525 11251 (2,1021 4,066 (1,313) 15091 30,177 84,856 164,081) 19.932) 41,020 13-
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2024 11 Restrlcted funds (Contlnued) Ancient Garden Wells Programme Piojecl lo restore the Bedouin Gardens in the high mountains of South Sinai and assistance with wells ID alleviate lack ol drinking water in Sl Katherine and outlying communities. Orphan Herb Gardans Project lo support fatherless children by leaching growing of indigenous herbs as a lulure trade and to support Traditional Bedouin Heiilage. C•rpèntry Project Project lo teach Bedouin young men a lifelong skill. carp&nlry. Dam Build 2020 An anonymoLJS donation towards the costs ol dam buildiny in 2020. Garden drylng racks Project lo help women garden owners lo give added value to tsrchard crops. Solar Pump Proje¢t Project, yel lo commence. ID investlgale the potential for. and benefits of, installing Solar pOWed pumps in wells in the mountains ol Sinai. Bedouln Cooperatlve Project to enable the Bedouln lo sel up their own cooperative to enable them lo work together on the sale or the purchase of large equipment such as an olive press. ERIK Emergency Project lo support Bedouin who have need of funds lo secure a water supply through the building Df a water lank or provision of hoses or lo secure an tsrchBrd garden if walls are lost to ffood damage. Laundry Project Projed for the construction of a laundry al Eid's garden, although the project is currently 'on hold, pencling the outcome of other reconslruclion activity nearby. P51 Weaving and Textiles Projèct lo revive a wèaving and lexliles venture ini118led by Ihe EU many years ago for the financial benefit of th8 women of the Mouxaina tribe. Tr#nsfe¥s between fund5 Transfers are made between reslri¢led and unreslricled funds al the end of every accounting period in cases where.. il the activity ol the reslricled fund has come lo an end and there is an unspènt balance that is not repayable lo the funderlsl, when the surplus is Iiansferred lo unieslricled funds., or ill the reslricled fund has come lo an end and there is no prospect ol a surplus in a later period, when the deficit Is eliminated by Iransler from unieslricl@d funds. 14-
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2024 12 Unrostrlcted funds The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors a5 to how they may be used. These include designated funds which have been sel aside c>ut of unreslriclert funds by the Iruslees for specific purposes. At29 October 2023 Incomlng Rèsources resour¢os expended Transfers At28 October 2024 Bedouin Community Fund General funds 23,827 23,827 37,535 33,719 4,698 18821 33,719 4,698 18821 23,827 61,362 Prèvlous year: At29 Octobor 2022 Incoming Resources r•sourees expended Transfers At28 October 2023 General funds 22,019 5,681 13,9131 9,932 33,719 Deslgnatèd fumds Bodoyin Community Fund Funds sel aside for specific community projects. 13 Related party transactlons During the year, Iwo ol the Iruslees received £17,S6012023.' £15,892) on an arms, length basi5 foT SeiceS ¢onlracled and for associated travel expenses. During the year, M R Ralcliffe Consullanls Ltd, a company of which on? ol the Iruslees is a Llireclor and shareholder, rechaiged expenses to the Trust lolalling £4,7521£4,7491. During a pievious period, one of the Iruslees loaned the Trust £2.000 for working cap11al. Al the year-end, th& Iruslee was owed £2,00012023'. £2,000). 14 Contlngent Ilabllltles Vaiious funders relain the right lo claw back grants should the use of the funds not be in accordance with the terms of the grsnl. In the opinion of the trustees no such liability exists al the year end. 15