2021-12-31-accounts - Europe Trust

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		Page
Reference and Administrative	Details
Strategic Report
Report ofthe Trustees		3 to	5
Report ofthe Independent Auditors		6 to	8
Statement of Financial Activities
Balance Sheet		10
Cash Flow Statement
Notes to the Cash Flow Statement		12
Notes to the Financial Statements		13 to	21
Detailed Statement of Financial	Activlhes	22 to	23

TRUSTEES			Dr. FAlaoui	Bouarraqul	Bouarraqul	(Chairman)	(Chairman)
			N G Misirli (resigned 21.3.21)
			Dr. A Abushwaima
			A J Koubaisy
			3Bouabdallah
			M ibrahim
			I Kady
			5Mohamed	(resigned		1.8.21)
			TAydarus
			SAlmahdawi		(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			Portus Audit	LLP
			Chartered Accountants				IL Statutory	Auditor
			31 High View		Close
			Hamilton Office Park
			Leicester
			Leicestershire
			LE49LJ

				2021	2020
				Unrestricted	Total
				fund	funds
			Notes	S	E
INCOME AND ENDOWMENTS		FROM
Donations and legacies				13,072	227
Investment income				806,653	578,777
Other income				19,654	12,488
Total				839,379	591,492
EXPENDITURE ON
Raising tends
Raising donations	and legacies			13,034	14,479
Other trading activities					6,837
				I3,034	21,316
Charitable aclivigies
Chadtable activities				484,974	667,022
Other					7,756
Total				498,008	696,094
Net gains/(losses)	on investments			1,622	(19,015)
NET INCOME/(EXPENDITURE)				342,993	[123,617)
RECONCILIATION	OF FUNDS
Total funds brought	forward			8,206,091	8,329,708
TOTAL FUNDS CARRIED FORWARD				8,549,084	8,206,091

			2021	2020
			Unrestricted	Total
			fund	funds
		Notes	8	E
FIXED ASSETS
Tangible assets		13	2,309	2,716
Investments
Investment property		14	2,765,712	2,765,712
Social investments		15	4,604,438	4,604,438
			7,372,459	7,372,866
CURRENT ASSETS
Debtors		16	400,418	106,675
Cash at bank	and in hand		856,075	865,078
			1,256,493	971,753
CREDITORS
Amounts falling due within one year		17	(37,151)	(81,919)
NET CURRENT	ASSETS		1,219,342	889,834
TOTAL ASSETS LESS CURRENT LIABILITIES			8,591,801	8,262,700
CREDITORS
Amounts falling due after more than one
year		18	(42,717)	(56,609)
NET ASSETS			8,549,084	8,206,091
FUNDS		21
Unrestricted	funds		8,549,084	8,206,091
TOTAL FUNDS			8,549,084	8,206,091

					2021	2020
			Notes		8	8
Cash flows trom operogng	acfivities
Cash generated from operations				I	13,420	(21.914)
Interest paid					(10,228)	(10.228)
Net cash provided by/(used in)		operating		activities	3.192	(32.142)
Cash flows from investing	activities
Sale offixed asset investments					1,622
Sale ofsocialinvestments						462,177
Interest received					75	611
Net cash provided by investing		activities			1,697	462,788
Cash flows from financing	aclivgies
Loan repayments in year					(13,892)	(13,892)
Net cash used in financing	activities				(13,892)	(13,892)
Change in cash and cash	equivalents		in
the reporting period					(9,003)	416,754
Cash and cash equivalents	at the
beginning ofthe reporling	pediod				865,078	448,324
Cash and cash equivalents	at the end		of
the reporgng period					856,075	865,078

	RECONCILIATION	RECONCILIATION	RECONCILIATION	OF	NET INCOME/(EXPENDITURE)	NET INCOME/(EXPENDITURE)	NET INCOME/(EXPENDITURE)	NET INCOME/(EXPENDITURE)	NET INCOME/(EXPENDITURE)	TO NET CASH	FLOW FROM	OPERATING	ACTIVITIES
												2021	2020
												E	K
	Net Income/(expenditure)							for the reporting	period	(as per the
	Statement of		Financial		ActiviHes)							342,993	(123,617)
	Adjustments	for:
	Depreciation		charges									407	479
	(Gain)/losses		on investments									(1,622)	19,015
	Interest received											(75)	(611)
	Interest paid											10,228	10,228
	(Increase)/decrease				in	debtors						(293,743)	92,662
	Decrease in	creditors										(44,768)	(20,070)
	Net cash provided			by/(used				in) operations				13,420	(21,914)
2.	ANALYSIS OF		CHANGES				IN	NET FUNDS
										At	1.1.21	Cash flow	At 31.12.21
													E
	Net cash
	Cash at bank		and	in	hand					865,078		(9,003)	856,075
										865,078		(9,003)	856,075
	Debt
	Debts falling		due	within			I year				(13,892)		(13,892)
	Debts falling		due	after		I	year				(56,609)	13,892	(42,717)
											(70,501)	13,892	(56,609)
	Total									794,577		4,889	799,466

DONATIONS AND LEGACIES
	2021	2020
		K
Donations	13,072
Other income		227
	13,072	227

3.	INVESTMENT INCOME
	Rents received
	Interest receivable

2021	2020
E	E
806.578	578,166
75	611
806,653	578,777

RAISING DONATIONS AND LEGACIES
	2021	2020
	S	E
Insurance	1,788	1,236
Telephone	473	1,758
Postage and stationery		675
Bank charges		131
Depreciation	383	451
Interest payable and similar charges	10,228	10,228
Support costs	162
	13,034	14,479

OTHER TRADING ACTIVITIES
	2021	2020
	E	S
Support costs		6,837

			Grant
			funding of
			activities	Support
		Direct	(see note	costs (see
		Costs	7)	note 8)	Totals
			E		K
Charitable	activities	449,214	9,872	25,888	484,974

2021	2020
9,872	49,740

SUPPORT COSTS	SUPPORT COSTS
				Governance
			Management	costs	Totals
			E		E
Raising donations		and legacies		162	162
Charitable	activities		5,874	20.014	25,888
			5,874	20,176	26,050

Net income/(exp	enditure) is stated after charging/(cr	editing):
		2021	2020
		E
Auditors' remuneration		6,428	6,666
Depreciation -	owned assets	407	479
Other operating	leases	I 1,700	1,950

	Trustees' expenses
		2021	2020
			E
	Trustees' expenses	12,387	3,458
11.	STAFF COSTS
		2021	2020
		5	E
	Wages and salaries	50,952	50,941
	Social security costs	593	1,162
	Other pension costs	1,120	1,120
		52,665	53,223

The average	monthly n	umber ofemployees during the y	ear was as follows:
			2021	2020
Fundraising,	marketing,	administration	2	2

COMPARATIVES FOR THE STATEMEN'I OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMEN'I OF FINANCIAL ACTIVITIES
		Unrestricted
		fund
INCOME AND ENDOWMENTS	FROM
Donations and legacies		227
Investment income		578,777
Other income		12,488
Total		591,492
EXPENDITURE ON
Raising funds
Raising donations and legacies		14,479
Other trading activities		6,837
		21,316
Charitable activities
Charitable activities		667,022
Other		7,756
Total		696,094
Net gains/(losses) on investments		(19,015)
NET INCOME/(EXPENDITURE)		(123,617)
RECONCILIATION OF FUNDS
Total funds brought forward		8,329,708
TOTAL FUNDS CARRIED FORWARD		8,206,091

TANGIBLE FIXED ASSETS
	Fixtures
	and	Computer
	fittings	equipment	Totals
	S	E	E
COST
At I January 2021 and
31 December 2021	21,387	2,584	23,971
DEPRECIATION
At I January 2021	18,831	2,424	21.255
Charge for year	383	24	407
At 31 December 2021	19,214	2,448	21,662
NET BOOK VALUE
At 31 December 2021	2,173	136	2,309
At 31 December 2020	2,556	160	2,716
INVESTMENT PROPERTY
FAIR VALUE
At I January 2021
and 31 December 2021			2,765,712
NET BOOK VALUE
At 31 December 2021			2,765,712
At 31 December 2020			2,765,712

SO	CIAL INVESTMENTS
		Mixed
		motive
		properties
		S
MARKET VALUE
At	I January 2021 and
31	December 2021	4,604,438
NET BOOK VALUE
At	31 December 2021	4,604,438
At	31 December 2020	4,604,438


16.	DEBTORS:	AMOUNTS	FALLING DUE WITHIN ONE YEAR
								2021	2020
								E
	Accrued	income						399,547	105,865
	Prepayments							871	810
								400,418	106,675
17.	CREDITORS: AMOUNTS			FALLING		DUE	WITHIN ONE YEAR
								2021	2020
								E	E
	Bank loans and overdrafts				(see note 19)			13,892	13,892
	Accrued	expenses						23,259	68.027
								37,151	81,919
18.	CREDITORS: AMOUNTS			FALLING		DUE	AFTER MORE THAN ONE YEAR
								2021	2020
	Bank loans (see note			19)				42,717	56,609
19.	LOANS
	An analysis ofthe maturity				ofloans		is given below:
								2021	2020
									E
	Amounts	falling due	within		one year on demand:
	Bank loan							13,892	13,892
	Amounts	falling between			one	and two years:
	Bank loan	1-2						13,892	13,892
	Amounts	falling due	between			two and five years:
	Bank loan	2-5 yrs						28,825	42,717

		2021	2020
		E	S
Bank	loans	56,609	70,501

MOVEME	NT	IN FUNDS
				Net
				movement	At
			At 1.1.21	in funds	31.12.21
			E
Unrestricted		funds
General	fund		8,206,091	342,993	8,549,084
TOTAL FUNDS			8,206,091	342,993	8,549.084

Net mov	em	ent in funds, include	d in the above are as foll	ows:
			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
			E	R		E
Unrestricted		funds
General	fund		839,379	(498,008)	1,622	342,993
TOTAL FUNDS			839,379	(498,008)	1,622	342,993

Compara	live	s for movement in funds
				Net
				movement	At
			At 1.1.20	in funds	31.12.20
Unrestricted		funds
General	fund		8,329,708	(123,617)	8,206,091
TOTAL FUNDS			8,329,708	(123,617)	8,206,091

			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)

					2021	2020
					S	E
INCOME AND	ENDOWMENTS
Donations and	legacies
Donations					13,072
Other income						227
					13,072	227
Investment income
Rents received					806,578	578,166
Interest receivable					75	611
					806,653	578,777
Other income
Job retention	scheme				19,654	12,488
Total incoming	resources				839,379	591,492
EXPENDITURE
Raising donations			and legacies
Insurance					1,788	1,236
Telephone					473	1,758
Postage and stationery						675
Bank charges						131
Fixtures 8 fittings		dep'n			383	451
Bank interest					10,228	10,228
					12,872	14,479
Charitable activities
Wages					44,310	44,299
Social security					522	117
Pensions					784	784
Other operating		leases			11,700	1,950
Rates and water					(12,709)	9,015
Insurance					638	443
Telephone					169	628
Legal and professional				fees	12,093	11,114
Bank charges					333	258
Property expenses					274,385	489,315
Foreign exchange			losses		1,146	(7,950)
Office services					1,391	1,369
Travel expenses					14,215	388
Membership fees					90
Other property	expenses				100,147	60,908
Grants to institutions					9,872	49,740
					459,086	662,378

				2021	2020
					E
Supportcosts
Management
Wages				5,535	5,535
Social security				59	1,022
Pensions				280	280
				5,874	6,837
Governance costs
Trustees' expenses				12,387	3,458
Wages				1,107	1,107
Social secudty				12	23
Pensions				56	56
Auditors' remuneration				6,428	6,666
Insurance				128	89
Telephone				34	126
Printing, postage and		stationery			48
Membership fees					790
Bank charges					9
Fixtures S.fittings dep'n				24	28
				20,176	12,400
Total resources expended				498,008	696,094
Net income/(expenditure)			before gains and
losses				341,371	(104,602)
Realised recognised	gains		and losses
Realised gains/(losses)		on	fixed asset
investments				1,622	(19,015)
Net income/(expenditure)				342,993	(123,617)