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 pro1￿1 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 cuf￿nI 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 aggr￿al@ 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