2020-12-31-accounts - Europe Trust

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			Page	Page
Reference and Administrotlve Details
Strategic Report
Report ofthe Trustees			3	to	4
Report ofthe Independent Auditors			5	to	6
Statement of Financial	Activities
Balance Sheet
Cash Flow Statement
Notes to the Cash Flow Statement				10
Notes to the Finonclal	Statements		11	to	18
DetaRed Statement of	Financial	Activities	19	to	20

TRUSTEES			~r. FAlaoui Bouarraqui	~r. FAlaoui Bouarraqui	Chairman	Chairman
			N G Misirli (resigned	21.3,21)
			Dr. A Abushwaima
			AJ Koubaisy
			5Bouabdallah
			M Ibrahim (appointed		20.5.20)
			I Kady (appointed 20.5.20) SMohamed (appointed 20.5.20) (resigned				I 8.21)
			TAydarus (appointed		20.5.20)
			5Aimahdawi (appointed			25.8.21)
COMPANY	SECRETARY		R Al Rawi
REGISTERED	OFFICE		MCC
			Ratby Lane
			Markfield
			LE67 9SY
REGISTERED	COMPANY	NUMBER	04927787 (England	and		Wales)
REGISTERED	CHARITY NUMBER		1103290
AUDITORS			Fortus Audit LLP
			Chartered Accountants			and Statutory Auditor
			31 High View Close
			Hamilton Office Park
			Leicester
			Leicestershire
			LE4 9LJ

			2020	2019
			Unrestdicted	Total
			fund	funds
		Notes	F.	E
INCOME AND ENDOWMENTS Donations and legacies	FROM		227	185
Investment income Other income			578,777 12,488	745,566
Total			591,492	745,751
EXPENDITURE ON
Raising funds Raising donations and legaoes Other trading activities			14,479 6,837	50,873 4,618
			21,316	55,491
Charitable activities Charitable activities			667,022	667,436
Other			7,756	14,169
Total			696,094	737,096
Net gains/(losses) on investments			(19,01St
NET INCOME/(EXPENDITURE]			(123,617t	8,655
RECONCILIATION OF FUNDS
Total funds brought forward			8,329,708	8,321.053
TOTAL FUNDS CARRIED FORWARD			8,206,091	8.329,708

			2020	2019
			Unrestricted	Total
			fund	funds
		Notes	5	E
FIXED ASSETS Tangible assets		14	2,716	3,195
Investments Investment properly Sooal investments		15 16	2,765,712 4,604,438	2.765,712 5,085,630
			7,372,866	7,854,537
CURRENT ASSETS Debtors Cash at bank and	in hand	17	106,675 865,078	199,338 448,324
			971,753	647,662
CREDITORS Amounts falling due within one year		18	(81,919)	(101,989)
NET CURRENT ASSETS			889.834	545,673
TOTAL ASSETS LESS	CURRENT LIABILITIES		8,262,700	8,400,210
CREDITORS Amounts falling due after more than one year		19	(56.609)	(70,502)
NET ASSETS			8,206,091	8,329.708
FUNDS Llnreslricted funds			8,206,091	8,329,708
TOTALFUNDS			8,206,091	8,329,708

					2020	2019
				Notes	E	E
Cash flows from operating activities Cash generated from operations Interest paid					(21,914) (10,2281	20,317 (10,228)
Net cash (used in)/provided	by operating		octiv Ses		(32,142)	10,089
Cash flows from investing activities Sale ofsoaal investments Interest received					462,177 611	895
Nei cash prowded by investing activities					462,788	895
Cash flows from financing Loan repayments in year	activities				(13,892)	(13,892)
Net cash used in tinoncing	activities				(13.892)	(13,8921
Change in cash and cash reporting period	equivalents	In	the		416.754	(2.908)
Cash and cash equivalents the reporting period	at the beginning			of	448,324	451,232
Cash and cash equivalents reporting period	at the end	of	the		865,078	448,324

RECONCILIATION OF	NET (EXPENDITURE)/INCOME	NET (EXPENDITURE)/INCOME	ACTIVITIES
			2020	2019
Net (expenditure)/Income for the reporting Financial Activities)		period (as per the Statement of	(123,617)	8.655
Adjustments for: Depreciation charges Losses on investments			479 19,015
Interest received			(611)	(895)
Interest paid Decrease/(increase) (Decrease)/increase	in debtors in creditors		10,228 92,662 (20,070)	10.228 (9,637) 11,402
Net cash (used in)/provided by operations			(21,914)	20.317

ANALYSIS OF CHANGES	IN NET FUNDS
		At 1.1.20	Cash flow	At 31.12.20
			E	K
Net cash
Cash at bank and in hand		448.324	416,754	865,078
		448,324	416.754	865,078
Debt
Debts falling due within ~ebts failing due after	I year I year	(13.892) (70,502)	13,893	(13,892) (56,609)
		(84,394)	13,893	(70,501)
Total		363,930	430.647	794,577

Trustees' expenses								2020	2019
								E
Trustees' expenses								3.458	4,996
STAFF COSTS								2020	2019
								E	E
Wages and salanes Social security costs Other pension costs								50,941 1,162 1,120	46,799 474
								53,223	47,273
The average monthly		number		ofemployee&		during	the year was as follows:
								2020	2019
Fundraising, marketing,			administration					2	2
No employees received			emoluments		in excess ofE60,000.
COMPARATIVES FOR	THE STAI'EMENT				OF FINANCIAL		ACTIVITIES		Unrestricted
									fund
									E
INCOME AND ENDOWMENTS				FROM
Donations and legacies									185
Investment income									745,566
Total									745,751
EXPENDITURE ON
Raising funds Raising donations and Other trading activities			legacies						50,873 4,618
									55,491
Charitable activities Charitoble activities									667,436
Other									14,169
Total									737.096
NET INCOME									8,655
RECONCILIATION OF		FUNDS
Total funds brought	forward								8,321,053
TOTAL FUNDS CARRIED			FORWARD						8,329,708

TANGIBLE FIXED ASSETS
	Fixtures
	and	Computer
	fittings	equipment	Totals
	E	5	5
COST
At I January 2020 and 31 December 2020	21,387	2,584	23,971
DEPRECIATION
At I January 2020 Charge for year	18,380 451	2,396 28	20,776 479
At 31 December 2020	18,831	2.424	21,255
NET BOOK VALUE
At 31 December 2020	2,556	160	2,716
At 31 December 2019	3,007	188	3,195
INVESTMENT PROPERTY
FAIR VALUE
At I January 2020
and 31 December 2020			2,765,712
NET BOOK VALUE
At 31 December 2020			2,765,712
At 31 December 2019			2,765,712

SOCIAL INVESTMENTS
	Mixed
	motive
	properties
MARKET VALUE
At I January 2020	5,085.630
~isposals	(481,192)
At 31 December 2020	4,604,438
NET BOOK VALUE
At 31 December 2020	4,604,438
At 31 December 2019	5,085,630

DEBTORS: AMOUNTS	DEBTORS: AMOUNTS	FALLING	FALLING	DUE WITHIN ONE YEAR
					2020	2019
					K	K
Prepayments Prepayments	and accrued income				105,865 810	199,190 148
					106.675	199.338
CREDITORS.'	AMOUNTS FALLING DUE WITHIN ONE YEAR
					2020	2019
						K
Bank loans and overdrafts Accrued expenses			Isee note 20j		13,892 68,027	13.892 88.097
					81,919	101,989
CREDITORS:	AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
					2020	2019
					K	K
Bank loans (see note		201			56,609	70,502
LOANS
An analysis of the maturity			of	loans is given below;
					2020	2019
					K
Amounts falling due		within	ane year on demand.
Bank loan 2					13,892	13,892
Amounts falling between one and two years:
Bank loan 2	1-2				13.892	13,892
Amounts falling due		between		two and five years.
Bank loan 2	2-5 yrs				42,717	41,677
Amounts falling due		in more than five years:
Repayable Bank loan 2	by instalments: & 5yrs by inst					14,933

2020	2019
E	E
70,501	84.394

							Net
							movement	At
						At 1.1.20	in funds	31.12.20
							8
Unrestricted	funds
General fund						8.329,708	(123,617)	8,206,091
TOTALFUNDS						8.329.708	(123.617)	8.206,091
Net movement		in funds, included		in the above	are as follows:
					Incoming	Resources	Gains and	Movement
					resources	expended	losses	in funds
					E	E	E
Unrestricted	funds
General fund					591,492	(696,094)	(19,015)	(123,617)
TOTAL FUNDS					591,492	(696,094)	(19,015)	(123.617)
Comparatlves		for movement	in	funds
							Net
							movement	At
						At 1.1.19	in funds	31,12.19
							R
Unrestricted	funds
General fund						8,321,053	8,655	8,329,708
TOTAL FUNDS						8,321,053	8,655	8,329,708

Compara	tive	net movement in funds, includ	ed in the above are as follows:
			Incoming	Resources	Movement
			resources	expended	in funds
				E	E
Unrestricted		funds
General	fund		745,751	(737.096)	8,655
TOTALFUNDS			745,751	(737.096)	8,655

		2020	2019
			E
INCOME AND ENDOWMENTS
Donations and legacies Other income		227	185
Investment income Rents received interest receivable		578,166 611	744,671 895
		578,777	745,566
Other income Job retention scheme		12,488
Total incoming resources		591,492	745,751
EXPENDITURE
Raising donations and Other operating leases Insurance	legacies	1,236	5,460 1.377
Telephone Postage and stationery Marketing and publicity Bank charges Fixtures 6, fittings dep'n Bank interest		1,758 675 131 451 10,228	1,730 606 30.771 170 531 10,228
		14,479	50,873
Charitable activities Wages Social secunty Pensions Other operating leases Rates and water		44,299 117 784 1,950 9,015	42,164 (433) 1,950 13,335
Insurance Telephone Postage and stationery Legal and professional fees Bank charges Property expenses Foieign exchange losses Office services		443 628 11,114 258 489,315 (7,950( 1,369	491 618 217 57,590 437 407,640 8,097 2,403
Travel expenses Other property expenses Grants to instdutions		388 60.908 49,740	110.263 22,664
		662,378	667.436
Support costs
Management Wages Social security Pensions		5,535 1,022 280	3,863 755
			4,618

		2020	2019
Management
Governance costs Trustees' expenses Wages Socialsecurity		3,458 1,107 23 56	4,996 772 152
Pensions Auditors' remuneration		6,666	6,476 390
Other operating leases		89	98
Insurance			323
Legalfees Telephone Printing, postage and stationery Membership fees Bank charges Fixtures & fittings dep n		126 48 790 9 28	124 43 750 12 33
		12,400	14,169
Total resources expended		696,094	737,096
Net (expenditure)/income	before gains and losses	(104,602)	8,655
Realised recognised gains Realised gains/(losses) on	and losses fixed asset investmenh	(19,015)
Net (expenditure)/income		(123,617)	8,655