Charity registration number 1100377 1England and Walos) Company reglstratlon number 04583140 THE MAKHAD TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 OCTOBER 2025 Makhad People Spirit Environment
THE MAKHAD TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trusto0$ Mr M R Ralcliffe MBE Mrs E H Cianslon Mrs R G Devas DrSARSamr8 Mr R Stainer Charity number IEn9land and Ylalesl 1100377 Company numbor 04583140 Reg15tered office Vvolseley House Oriel Road Chellenham Gloucestershire United Kingdom GL50 1TH Ind•p•nd?nt oxamlnor BK Plus Limited 6 Manor Park Business Centr@ Mackenzie Way Chellenham Gloucestershire England GL519TX Banker5 Lloyds Bank PIC HSBC Sollcltors Vvlllans 34 Imperial Squar8 Chellenham Gloucestershire GL50 1 RH
THE MAKHAD TRUST CONTENTS Pago Trustees, report Indep8ndenl examiner's report Slalemenl of financial activities Statement of financial position Notes to the finan¢iAI slalemenls 9-15
THE MAKHAD TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 28 OCTOBER 2025 The Iruslees present their annual report and financial statements for the year ended 28 October 2025. Tho financial slalemenls have been prepared in accordance with the accounting policios set out in note 1 to th8 financial statements and comply with the charity's governing docurnenl, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reportlng by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting S12ndaTd applicable in the UK and Republic of Ireland IFRS 1021 ObJectiv•s and •¢tivKti•s Objectlves and alm$ The objectives of the Charity ale to rais@ awareness ol the value of the natural heritage ol nomadic regions through èducation and the provisiDn of financial, technical and other assistance. Publlc benaflt In planning the Charity's 8¢tivities lor the ptsriod, the Trusl&es kept in mind the Charity Commission's guidance on public benefit. The locus of the Charity's activities during the period, which explains the delivery by the Charity ol public benefit, is sel out below under'Achievement8 and performance, and above under'objeclives and aims,. The trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the charity should undertake. Aehlevements and pèrformance Charitabl• actlvltl•s The Trust's objectives have continued in the South Sinai provin of E9ypI with the majority of work being carried out in Sl Kalherine's City and in thè surroundlng high mountains and wadls. The polillcal siluallon in the country has continued to remain stable. Actlvltlès and ProJè¢ts The Charity's activities have continued Its IDllow the proven schedule though wlh some three pro11 trips lo Sinai during thè Gharily year instead of four. Incor¥Tring funds enabled the commencernenl of forty-one new well resloralions, which was just a little short of the fifty resloralions sel for the year. However, b&rause the rbumber of completed restorallons was actually fifly-one, il is heartening lo recogni5e that the project continues with the reslor81ion of bedouin wells al 8 steady pace year aftèr yeaT. The major hurdle for our beneficiaries and our work has been the ongoing drought, sinc& 2019, which was the last time there was good rainfall. A5 a consequence, the water table continues lo fall, reducing the level of water in the wells. In fact the levels are so low in summer that most bedouin are struggling lo grDW vegetables for their families as well as keeping their orchard trees alive. Even the small orchard tree represents an investment of many years of care and so the bedouin will pul ils needs before their own. Inevitably, there is a great deal of concern about the future with insuffiBienl water for everyone. Although tourism visits lo Sl Kalherine's monastery have increased, giving more work lo guides and camel men, there have been very few people visiting or trekking in th& high mountains, providing little work for mountain guides. cooks, carnel men or income for garden owners. Thè reconstruction of Sl Kalherine's continues because the project is not yel complete following six years in the making. However, the end is in sight, with only internal filments of the apartment blocks and landscaping lo be completed. Meanwhile there conb'nues lo be major disruption in the town whilst roads continue lo be excavated for the various services. As supporters of the b8douin communities of South Sinai, the charity's plans will be adapted lo meet the emerging silualion. Consequently, there has been more emphasis on projeGts in the wider environs of Sl KalheTine's and also in supporting the town's POPLJlaliDn with further w8ler sources. 11 1$ recognised Ihal many families spend thè long summer months, when there is no school, in their mountain gardens and so the nèed for well resloralion furtheT afield is also important. Al present the aim is lo continue with the cufnI projects bul lallored lo meet the current situation.
THE MAKHAD TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR EIVDED 28 OCTOBER 2025 Wells The Trust ha5 been helping with the reslorallon of ancient garden w@Ils for just over 15 years now and at the year end the number of completed resloralions reached the subslanlial numbtrr of 700, A milestone which the charity is proud of having achieved. This represènts local acce5S to water for an eslimaled 41.000 bedouin men, women and children. With an increased supply of clean water they are able lo drink more and 80 have improving health, grow vegetables for food and cash crops, plant trees which survive and keep goals and camels., all of which enables them lo live more sustainab16 and independent lives, whilst proLJdly preserving their culture and heritage. The cuirenlly reduced water SLJpply. however doès allow some bedouin from other towns on the coast nearby lo bring their grazing animals into the desert highlands during summer months supporting their income. The wells are Èspecially important, because they are the only source of clean water in the region, although the lack ol rain for nearly six years now has made life somewhat challenging. Wilhoul the charity's work ov&r the last 15 years, the number of funclloning wells would have dropped considerably. leading to severe hardship. During the year four key wells however were identified for their potential in providing a greater supply of water and have been given extra resources lo ensure they ke&p operating. These wells are community wells from which many bedouin draw water. The actual rkumber of restored wells al the end of the financial year was 700 (comprising 347 orchard garden wells and 353 Bomrllunily drinking wells). As Iheie are still several hundred garden well owners, clearly there is still more work to be done and il is hoped lo widen Ihs project area. because there are a number of locations where the annu81 rainfall has been virtually zero now for a number of years, and where many wells require resloralion lo support the population living there. Dams During September two of the Iruslees organi5ed a journey through Sinai Journeys Ltd, taking 11 participants trekking in the mountains lo build another dam, on this tsccassion in Wadi Gibal in the high mountains. 11 is pleasing lo report the 24 existing datlls continue tD function despite the build-up of silt within Ihem since they were created,. and whilst there may have been lillle rainfall over a number Df years, the darns hav8 certainly assisted in increasing the supply of water lo neaiby wells. 11 is anlicipaled that there will be further dam building journeys during the next year. St Katherlno's Carpentry School 11 had beon hoped lo restart the carpentry school Courses following the pandemic, bul the impact of the new building project by the government has meant that few young men have come foward, preferring lo lake local paid labouring work. Additionally, il is understood that the Ministry of Education has lightened up regul81ions regarding leaching qualilicalions, making il impossible for the carpenter Ahmed Oda lo continue leaching carpentry skills. Employing a qualili2d teacher from the technical college in Suez would unfortunately create loo many practical challonges. 11 Is sad that this piojecl has no longèr become viable and so the school has been closed, Orphan Herb Projeet The bedouin teacher lor this project has continued lo work with the University of Alèxandria where he advises medical students about the medicinal benofils of indigenous herbs from Sinai This 18kes up a Gonsiderable amount of hls lime anLt so sadly he has not beèn able lo continue with new courses. 11 is pleasing neverthele88 lo have had such an esteemed teacher for the students. On a positive note a recent visit found that the original students were still tending their herb gardens and selling the hèrb81 produce, all helping lowards their family income. The project has successfully helped around 20 children who were in difticull circumstances following the death ol their father. Some ol the origlnal students are now married and have started their own farnilies. The knowledgtr acquired whilst they were younger continuing to b8 of bènelil lo the new family. St Katherlne's Library Since the library was closed during th8 pand&mic, the acquisition of a new facility in a publlc bullding has not malefialised. Therefore during the year thought was given lo the use of a bedouin building. However there is the challenge that bedouin buildings are owned primarily by men and because the facility would be for women and children there will be several hurdles, shall we say, lo overcome.
THE MAKHAD TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2025 50odbank This very small project has continued lo support the bedDuin gardens with access to quality seeds. A bedouin gardener, Mahmoud Hassan, 15 given a quantity of vegetable seeds in the spring and the autumn which he stores and solls lo bedouin g8rdeners al a nominal cost. Mahmoud also grows some of the seeds himself lo provide a greater quantity for distribution duiing the fgllowing year. He has a large polytunnel where he Is able lo grow lomaloe5. courgelles, sweelcorn and rocket and saves the s88ds they produce. 1118 good Ih8t he is now assisted in his work by an Egyptian bolsnisl who fortunale5y lives close by. ERIK {Essthtials, Repairs and Incldentals Kltly) This project has been able lo bring benefit lo a number of bedouin in many ways. The first beneficiary was a bedouin who had hi5 garden wall demolished, léaving il open lo marauding goals, camels and donkeys and the fund paid for a wire fence to encompass his garden. Subsequent projects have included.. funding a water lank for a remote community, enabling the s?fe slorage of water for distribution directly lo bedouin homes.. the replacement ol a pump and garden hose., and funds lo support the building of a further water lank in a remote 8Tea for an expandlng garden, future proofing the garden lor the next generation. In Sinai, 8 water lank is known as a birka requiring a large quantity of expensive cement IDg@Iher with 8 supply of steel bars to support th6 lank roof, keeping out sunlight and reducing algae growth. These birkas are considered a precious commodity by the bedouin 8nd during the year another community requested financial assistsnce towards building their own community blrka. The advantage of a subslanlial birka being built above a community allows water from s&ver81 higher wells lo feed nlo the one lank, ensuring a continual gravity fed supply DI water through hoses lo the house8 below. Building a birka in such a location is akin lo providing Dn-lap water lo a village, the people benefilling being primarily women 8nd children. Woman's Weavingi Textlles and Handl¢rafts Project This new project is focused on increasing the family income of impoverished bedouin families in South Sinai, the MDuzaina Tribè with around 12.DOO people. covering a large part of the territory in th8 50ulhern half of Sinai. Income is mostly derived from selling theif grazing sheep and goals, bul sadly the income is generally loo small to sustain rga50n8ble family life. During the yeaT the Mouzaina Tribe chief, Sheilk Mousa 8sked for assistance in funding a projeel which in essence allows the sheep and goals lo be sheared 8nd the wool sold lo weavers within the Tiibe, allowing them lo produce bags and rug5 for sale lo lourisls. The project will also allow other handicrafts to be made for sale, and the income provided will ensure the bedotjin can buy food, pay for any medical bills, and make school uniforms, so that children can attend school, not le?sl. Clearly the sheilk is both wise and faisighled. and wishes ID open a shop in a prominent location where tourists will be able lo buy the8e Mouzania-made handicrafts, a meaningful way lo empower the wom8nlolk afthis Tribe. Flnan¢ial review Invostment polFcy and objectives Due lo the relatively low level of funds available for investment, th8 Trusle@s consider that bank deposits provide a salisfaclory return lo the Charity. Reserves poli¢y The Trustees annually review the Reserves Policy bearing in mind the current and anlicipaled financlal performance of Ihe charity. The Trusl8es consider il appropriate for there lo be suffiaenl Unreslricled Fund8 to cover six months unrestricted charitable expet)dilure in the unlikely event that there is a m?lerial reduction in income. Based on the SlaleFnenl of Financlal Activities for the year ended 28 October 2025, unreslricltsd chaTilab1e èxpenditure, excluding project costs, amounted lo £4.762 12024.. £8e21 and Consequently the policy would require unreslricled funds as al 28 October 2025 of £2,381 12024.. £4411. The actual unreslricled funds, excluding clesignaled funds, were £39,691 12024.. £37,535), which Iherefore shows a surplus from the reserves policy ol £37,31 C>12024= £37,094). The Truslees have carefully reviewed the surplus lo the reserves policy and have concluded that Il will be principally ulilised by the creation of further wells which will fully benefit the bedouin populace, in addition lo providing additional financial sUPPOrt lor the other ongoing programs as needed.
THE MAKHAD TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 28 ocfoBER 2025 Plans for future perfods The programs Currently undertaken, particularly the wells project, continue lo address the fundamental essentials of life, the provision Df water, providing life sustenance food 2nd education. With the resloralion of 700 wells lo dale, capable ol providing a good supply of clean water lo both garden families and lo local communities, supporting a most substantial number of bedouin, the charity's objectives ere clearly being mel, In supporting the Shellk of thè Mouzania Tribe in his farsightedness, for his 12,000 strong tribe the Charity is bringing forward not only education and a level of p¥osperily lo his people together with a pride and happiness in their new way of life, as they rise lo their newFound challenges. The charitable objectives of providing relief Iwaler and fDodl through financial support in ordèr lo protect the natural, cultural and spiritual heritage of a nomadic region, by supporting the btsdouin people and their ancient gardens is clearty being rnel, together with a wide educational program. Wicle in the sense that as each Project is undertaken, the bedouin themselves, IhroLJgh participation and regardless of age, acquire further knowledge which helps them in their daily life. Wilhoul such projects their awareness personal growth of what can be accomplished would be Ihal much the poorer. Additionally the journeys und6rtaken to South Sinai from the UK introducing people lo the culture and landscape of the bedc>uin people promotes the advancement of knowledgè and education with those members of the publi¢ wishing lo experience such a precious opportunity. Structure* governanco and management Governing document The charity is governed by its Memorandum and Articles ofAssocialion dat8d 6 November 2002. Recrultment and appointmènt of now truste•s The power lo appoint new trustees is vested in surviving and continuing Iruslees. Or9anisational structur• The Charity Is incorporated as a ¢ompany limited by guarantee. and therefore it has no share Capital. In the event of the company being wound up and the liabilili&s and winding up 8XPonses being in excess of 88sets, the liabllily ol each member is limited lo £1. The charity is conlrollerl by a Board of Trustees, which mèets on a regular basis. Rlsk m•na9omont The Trustees actively review the major risks that the ChaTily faces on a regulai basis and believe that maintaining ils current reserves policy, combined with an annual review of the controls over key financial systems, will provide $LJffi'cienl resource for the Ch8rily going forward. The Trustees have also examined Dlher operational and business risks faced by the Charily and confirm that they have established systems lo miligale the significant risks.
THE MAKHAD TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2025 statement of Trustees. Responslbllltles The Iruslees, who are also the direclofs of The Makhad Trust for the purpose of company law, are sponsible for preparing the Trustees, Report and the fin8ncial 51alemenls in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Iruslees lo prepare financial slalemenls for each finan¢ial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for Ihal year. In preparing these financial slalemenls, the Iruslees are required ID.. select suitable 8ccounling policies and then apply thern consistently., observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, sublecl lo any material departures disclosed and explained in the financial slatemenls., and prepare the financial 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 accounllng records that disclose with reasonable accuracy al any lime the financial position ol th& charity and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. Th&y are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Irusle s, report was approved by the Board ol Trustees. MrMRRal Trustee 21 April 2026
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 slalemenls of The Makhad Trust Ilhe charity) for the year ended 28 October 2025. Responsibilitie5 and basis of report As the Irijslees of the charity land a150 Ils directors for the purposes of company lawl, you are responsible for the preparation of the fi'nancial slalemenls In accordance with the requirements of the Companies Act 2006. Having satisfied Myself that the financial statements of the charity are not required lo be audited under Part 16 01 the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination ol the Charity's financial slalernenls carried out under section 145 01 the Charitie5 Act 2011. In carrying DUI my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the Charities Act 2011. Ind•pendent examiner'5 Statement I have completed my examination. I confirm that no mallers have corne lo rny attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect ol the charity as required by section 386 of the Companies Act 2006. the financial slalernenls do not accord with those records,, or the financial slalements do nDI comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement Ihal the financial slalernenls give a true and fair view, which is not a matter considered as part of an independent examination., or the financial slalemenls have not been prepared in accordance with the methods and principles of the Slalemenl of Recommended Practice for accounting and repDrting by charities applicable lo charities preparing their financial slalemenls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have corne across no other mallers in connection with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding of the financial slalements lo be reached, Roger F Downes FCA BK Plus Limited Chartered Certified Accounlanls 6 Manor Park Business Centre Mackenzie Way Chellenham Glouceslershire GL519TX England 21 April 2026
THE MAKHAD TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 28 OCTOBER 2025 Vnrvs¢rlcted Restricted funds funds 2025 2025 Total Unr85trlcted R•slri¢tod funds funds 2024 2024 Total 2025 2024 Not•s Income from: Donations and legacies Other trading activities Investments 69,851 69,851 1.627 1.112 210 3,432 1,056 70,949 71,159 3,432 1,056 1,627 1,112 Total Tncome 2,739 69,851 72,59D 4,698 70,949 75,647 Exp•ndlture on: Charitable activities 4,762 66,278 71,040 882 68,550 69,432 Total expendlture 4,762 e8,278 71,040 882 68,550 6g,432 Not Incomel(expenditure} {2,0231 3,573 1,550 3,816 2,399 6,215 Transfers between funds 23,827 123,8271 Nèt mov•mont in funds 12,023) 3,573 1.550 27,643 121,4281 6,215 Reconciliation of funds: Fund b8lances al 29 October 2024 61.362 19,592 80,954 33,719 41,020 74,739 Fund b•l8nces at 28 October 2025 59,339 23,165 82,504 61.362 19,592 80,954
THE MAKHAD TRUST STATEMENT OF FINANCIAL POSITION AS Af28 OCTOBER 2025 2025 2024 Notes Flxed ass•ts Investments Current assets Debtors Cash al bank and in hand 3,576 81,756 10,278 75,869 85,332 86,147 Cr•dltors' amounts falling due within one year 10 12,8291 15,1941 Not currant ass•ts 82,503 80,953 Total a55ets le55 current liabilities 82,504 80,954 The funds of the charlty Reslricled inGome funds Unreslricled funds 11 12 23,165 59,339 19,592 81,382 82,504 80,954 The Company is enlilled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 28 October 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect lo accounting records and the preparation of financial slalemenls. The memb8rs have not required the company lo obtain an audit of ils financial slalemenls for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable lo companies subject lo the small companies regime. The fina oial statements were approved by the Iruslees on 21 April 2026 MrMRR Trustee iffe
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 OCTOBER 2025 Aceountlng poll¢los Charity information Th& Makhad Trust 18 a private compsny limited by guafanlee incorpvraled in England Wales. The itsgistered office is Wolseley House, Oriel Road, Chellenham, GIouGeslershire, GL50 1TH, United Kingdom. 1.1 Accountlllg convantlon The financial slalemenls have been PTepared in accordance with the charity's gDveming document, the Companies Act 20Q6, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable ID charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 The charity is a Public Benefit Enlily as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not lo prepare a slatanenl of cash flows. The financial statements are prepared In sterling, which is thè functional currency of the charity. Mon&lary amounts In these financial stslements are rounded to the nearest £. The financial slalements have been prepared under the historical cost convention, The principal accounting policies adopted ar8 sel out below. 1.2 Going concern Al the lime of approving the financisl slalements, the Iruslees have a reasonable expectation that the charily has adequate resources lo continue in operational existence for the foreseeable future. Thus the Iiuslees continue lo adopt the going concern basis ol accounting in preparing the financial slalemenls. 1.3 Charitable funds Unreslri¢led funds Can be used in accordance with the charitable objectives at the discretion of the Iruslees. Reslricled funds can only be used for particular reslricled purposes within the objects of the charily. Reslriclions arise when specified by the donDr or when funds are raised for particular reslricled purposes. Further explanation of the nature and purposè of each fund is included in the notes lo the financial slalements. 1.4 Income All income is recognised In the Slalemenl of Financial Activities once the charity has enlillemenl lo the funds, it is probable that the income will be received and the amount can be rneasured reliably. 1.5 Expenditure Liabilities are rectsgnised 8$ expenditure as SODn 8S there is a legal or constructivè obligation commilling the Charity lo that expenditure, il is probable that a transfer of economic benefits ivill be required in selllemenl and the amount of IhB obligation can be measured reliably. Expenditure 18 accounted for on an accruals basis and has been classified under headings Ihal aggral@ all cost related lo the category. Where costs ¢8nnol b8 directly allribuled to particular heading8 they have been allocated lo activities on a basis consislenl with the use of resources. 1.6 Flx•d assot invostments Fixed asset investments are initially rneasured al transaction price excluding transaction costs, and are subsequently measured al fair value al each repDrting dale. Changes in fair value are recognised in nel incomell&xpendilurel for the ye8r. Transaction costs 8r8 @xpensed as incurréd.
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2025 Income from donations and legaeles Unrgstrlcted Restrlcted funds fund8 2025 Total Unrestrlcted Restrlcted Total lunds lynd$ 2024 2025 2025 2024 2024 Donations and gifts 69,851 69,851 210 70,949 71,159 Incom• from othor trading activilles Unrestricted U*r•stri¢ted funds 2025 2024 Fundraising events 1,627 3,432 Expendlture on ¢harltable actlvlties Total 2025 Total 2024 Dlrect cost5 Rates and insurance Posl8g&, stallonery, telephonè and advertising Sundries Project costs Research and lundralsing Bookk@èping and admin support Bank charges Marketing Independent examiner's fees 1,154 180 217 59,217 3,120 4,120 137 1,823 1,072 1,027 256 216 57,240 3,120 4,307 452 1,812 1,002 71,040 69,432 Analysis by fund Unreslricled funds Rèstricted funds 4,762 66,278 882 68,550 71,040 69,432 Trust•e$ During the year, two of the trustees received £15,074 12024.. £17,960) on an arms, length basis lor services contracted and lor 8s8oclaled trave1 expenses. 10-
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 ocfoBER 2025 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Tol81 There were no employees whose annual remuneration was more than £60.000. Taxatlon The charity is exerrtpt from laxalion on ils activities because all ils Income is applied for charilable purposes. It is not, hDwever, exempl from VAT and irrecoverable VAT is included in the cost of those items lo which il relates. Flxod assot investments other inv•8tments Cost or valuatlon Al 29 October 2024 & 28 October 2025 CBrrylng amount Al 28 OclDber 2025 At 28 October 2024 2025 2024 Other investments comprise.. Notes Investments in subsidiaries Debtors 2025 2024 Amounts falling due wlthlm ono year: Amounts owed by subsldiary undertakings Prepayments and accrued income 2.590 986 9,776 502 3,576 1 Q,278
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2025 10 Credltors: amounts falling due withln one yaar 2025 2024 Other loans Trade creditors Accruals and deferred income 2,000 2,210 984 1,040 1,789 2,829 5,194 11 Restrlcted lunds The reslricled funds of the charity comprise Ihe unexpendod balances of donatlons and grants held on trust subject to specific conditions by donors as to how they may be used. At29 October 2024 Incomlng Resources resourc•s oxponded Transf•rs At28 October 2025 Ancient Garden Wells Programme Orphan Hérb Garden Carpentry School Dam Build 2020 Garden Drying Racks Solar Pump Project Bedouin Cooperative ERIK Emergency Laundry Project Weaving and Textiles 3,341 4Q11 2,775 181 434 7,468 2,000 2,244 77 673 66,600 160,6171 9.324 401 12,7751 181 434 7,466 2,QOO 4,353 77 11,0711 1,889 12.5551 2,775 1,362 13,1061 19,592 69,851 166,2781 23,165 12-
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2025 11 Restrlct•d funds (Contlnued) Pr•viou5 year: At29 October 2023 Incomlng Resources rèsourcès oxp•nded Transfars At28 October 2024 Ancient Garden INells PrDgrarnme Orphan Herb Garden Carpentry School Dam BLJild 2020 Garden Drying Racks Solar Pump Project Bedouin Cooperative ERIK Emergency Laundry Project Weaving and Textiles 23,737 401 2.775 1.725 434 7,466 2,OQO 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 (1,4891 1,771 11.9321 769 1961 41,020 70,949 168,5501 {23,8271 19,592 13-
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2025 11 Restrlct•d funds (Contlnuod) Ancient Garden Wolls Proyramme Project lo restore the Bedouin Gardèns in the high mountains of South Sinai and assistance with wells lo alleviate lack of drinking water in Sl Katherine and outlying communillès. Orphan Herb Gardens Project lo support fatherless children by leaching growing of indigenous herbs as a future trade and lo support Traditional Bedouin Heritage. Project closed. Carpentry Project Project lo lèach Bedouin young men a lifelong skill, carpentry. Project closed. Dam Bulld 2020 An anonymous donallon towards the c0518 of dam building in 2020. Gardefi drying racks Project lo help women garden owners to give added value lo orchard crops. Solar Pump ProJo¢t Project, yel lo commence, lo Investigate the potential for, and ben8fits of. installing solar PDwer8d pumps in wells in the mountains of Sinai. Bedouin Coopeyatlvo Project lo enable the Bedouln to sel up their own cooperative lo enable them lo work together on kne sale gr the purchase of large aqLfipmenl such as an olive Press. ERIK Emarg•FI¢y Project lo support Bèdouin who have need of funds to S&Gure a water supply IhrDugh th6 building of a water tank or provision of hoses or lo secure an orchard g3rdÈn if walls are lost to flood damage. Laundry Project Project for the consltuclion of a laundry 81 Eid's garden, which has successfully created a communal place for women to meet Snd to wash clothes and largo items like blankets. Weavlng and Textiles Project lo revive a weaving and lexliles venture inilialecl by the EU many years ago for the financial benefit ol the women of the Mouzaina tribe. Transfers betw¢•n funils Transfers are made belween reslricled and unreslricled funds al the end of every accounting periDd in cases where.. il the activity of the reslricled fund has come lo an end and there is an unspent balance that is not repayable lo the fund@rlsl, when the surplus is transferred lo unreslricled funds., or ill the restricted fund has come lo an end and there is no prospect of a surplus in a later period, when the deficit is eliminated by transfer from unreslricled funds. 14-
THE MAKHAD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 OCTOBER 2025 12 Unrestricted funds The unreslricled funds of thè charity comprise the unexpenderl balances of don81ions and grants which are not subject to specific condition8 by donors aTrd grantors as to how they may be used. These include designated funds which have been sel aside gul of unreslricled lunds by the Iruslees for spe¢Sfic puiposes. At29 Incomlng Resources O¢lober resources expended 2024 Transfars At28 October 2025 Bedouin Community Fund General funds 23.827 37.535 14,179) 1583} 19,648 39,691 2,739 61,382 2,739 14,7621 59,339 Pr?vlou$ yaar: At29 October 2023 Incoming Resources resources expend¢d Transfors At28 October 2024 Bedouin Community Fund General funds 23,827 23,827 37,535 33,719 4,698 {8821 33,719 4.698 18821 23,827 61,362 Doslgnated fund5 Bedouln Community Fund Funds sel aside for spts¢ific Gommunily projects. 13 Related party transa¢tlons During the year, two of th# trust865 receThied £15,074 12024.. £17,960) on an arms, lèngth basis for s&rvi¢6s contracted And for associsled travel expenses. During the year, M R Ralcliffe Consullanls Ltd, a company of which one of the tru81ees 18 a diiecloi 8nd shareholder, recharged expense5 to the Trust lolalling £3,5491£4,752), During a previous period, one of the trustees loaned the Trust £2,000 for working capital, which was repaid in full during the year. At the year-end, the Iruslee was owed £nil12024,' £2,000). 14 Contingent Ilabillll•$ Various funders relain the right lo claw back grants should the use of the funds not be in accordance with the terms of tho grant. In the opinlon of the ITuslees nD such liability exists al the year end. 15