REGISTERED CHARITY NUMBER: 1117826
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
THE MELINA CHARITABLE FOUNDATION
Cooper Parry Advisory New Derwent House 69-73 Theobalds Road London WC1X 8TA
THE MELINA CHARITABLE FOUNDATION
Contents of the Financial Statements for the year ended 31 March 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | ||
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 8 |
THE MELINA CHARITABLE FOUNDATION
Reference and Administrative Details for the year ended 31 March 2024
Trustees J P White K Graham A White M Kay Principal address c/o J P White-Frogmore 11-15 Wigmore Street London W1U 1PF Registered charity number 1117826 Independent examiner Cooper Parry Advisory New Derwent House 69-73 Theobalds Road London WC1X 8TA
Page 1
THE MELINA CHARITABLE FOUNDATION
Report of the Trustees for the year ended 31 March 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Objectives and activities
The objectives are to support a variety of charitable purposes as the trustees think fit. The policies adopted in furtherance of these objects are simply to identify worthy causes.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
During the period grants totalling £84,230 (2023 : £138,269) were made to charitable organisations.
Achievement and performance
The trustees are satisfied that grants made during the period and subsequently have achieved the charity's objectives.
Financial review
Details of the transactions and financial position of the charity are given in the attached financial statements.
The charity has virtually no overheads and therefore the trustees believe there is no need for them to retain any level of reserves at the present time, but will keep the position under review.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity was established by a charitable trust deed on 1 December 2006.
The trustees who served during the year were:
J P White A White M Kay K Graham
The charity is governed by the terms of its charitable trust deed and all decisions are made by the trustees. There are no employees.
There are no related parties other than the trustees.
Approved by order of the board of trustees on 16 December 2024 and signed on its behalf by:
K Graham - Trustee
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Independent Examiner's Report to the Trustees of The Melina Charitable Foundation
Independent examiner's report to the trustees of The Melina Charitable Foundation
I report to the charity trustees on my examination of the accounts of The Melina Charitable Foundation (the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Nicola Pearson
Cooper Parry Advisory New Derwent House 69-73 Theobalds Road London WC1X 8TA
16 December 2024
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THE MELINA CHARITABLE FOUNDATION
Statement of Financial Activities for the year ended 31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| Income and endowments from | |||
| Donations and legacies | 2 | 75,000 | 61,440 |
| Charitable activities | |||
| Accountancy | (1,970) | (1,590) | |
| Grant funding of activities | (84,230) | (138,269) | |
| Investment income | 3 | 187 | 206 |
| Total | (11,013) | (78,213) | |
| NET INCOME/(EXPENDITURE) | (11,013) | (78,213) | |
| Reconciliation of funds | |||
| Total funds brought forward | 39,141 | 117,354 | |
| Total funds carried forward | 28,128 | 39,141 |
Continuing operations
All income and expenditure has arisen from continuing activities.
The statement of financial activities includes all gains and losses recognised in the year.
The notes form part of these financial statements
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THE MELINA CHARITABLE FOUNDATION
Balance Sheet 31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Total funds | Total funds | ||
| Notes | £ | £ | |
| Current assets | |||
| Cash at bank | 30,138 | 40,741 | |
| Creditors | |||
| Amounts falling due within one year | 9 | (2,010) | (1,600) |
| Net current assets | 28,128 | 39,141 | |
| Total assets less current liabilities | 28,128 | 39,141 | |
| NET ASSETS | 28,128 | 39,141 | |
| Funds | 10 | ||
| Unrestricted funds | 28,128 | 39,141 | |
| Total funds | 28,128 | 39,141 |
The financial statements were approved by the Board of Trustees and authorised for issue on 16 December 2024 and were signed on its behalf by:
K Graham - Trustee
The notes form part of these financial statements
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THE MELINA CHARITABLE FOUNDATION
Notes to the Financial Statements for the year ended 31 March 2024
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. Donations and legacies
3.
| Gifts Investment income Deposit account interest |
2024 £ 75,000 2024 £ 187 |
2023 £ 61,440 |
|---|---|---|
| 2023 £ 206 |
4. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
5. Charitable activities
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Grant Funding | 84,230 | 138,269 |
| Accountancy | 3,310 | 1,590 |
| 87,540 | 139,859 | |
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THE MELINA CHARITABLE FOUNDATION
Notes to the Financial Statements - continued for the year ended 31 March 2024
6. Grants payable
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Grants to institutions | 84,230 | 138,269 |
7. Support costs
Governance costs includes payments to the independent examiners of £1,750 (2023 : £1,600) for independent examination fees.
8. Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year. Fees totalling £1,560 (2023 : £1,440) were payable to Cooper Parry for the preparation of the accounts and their independent examination. Keith Graham, who is a trustee of the charity is also a consultant of Cooper Parry.
9. Creditors: amounts falling due within one year
| 9. | Creditors: amounts falling due within one year | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Other creditors | 2,010 | 1,600 | ||
| 10. | Movement in funds | |||
| Net | ||||
| movement | ||||
| At 1/4/23 | in funds | At 31/3/24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 39,141 | (11,013) | 28,128 | |
| TOTAL FUNDS | 39,141 | (11,013) | 28,128 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | (11,013) | - | (11,013) | |
| TOTAL FUNDS | (11,013) | - | (11,013) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | ||||
| At 1/4/22 | in funds | At 31/3/23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 117,354 | (78,213) | 39,141 | |
| TOTAL FUNDS | 117,354 | (78,213) | 39,141 |
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THE MELINA CHARITABLE FOUNDATION
Notes to the Financial Statements - continued for the year ended 31 March 2024
10. Movement in funds - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (78,213) | - | (78,213) |
| TOTAL FUNDS | (78,213) | - | (78,213) |
11. Related party disclosures
There were no related party transactions for the year ended 31 March 2024.
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