**COMPANY REGISTRATION NUMBER: 6078667 CHARITY REGISTRATION NUMBER: 1121320** ## **The MSE Charity Company Limited by Guarantee Unaudited Financial Statements 31 March 2026** ## **HAFFNER HOFF LTD** Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Financial Statements** ## **Year ended 31 March 2026** ||**Page**| |---|---| |Trustees' annual report (incorporating the director's report)|**1**| |Independent examiner's report to the trustees|**8**| |Statement of financial activities (including income and|| |expenditure account)|**9**| |Statement of financial position|**10**| |Notes to the financial statements|**11**| ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** ## **Year ended 31 March 2026** The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2026. ## **Reference and administrative details** **Registered charity name** The MSE Charity **Charity registration number** 1121320 **Company registration number** 6078667 **Principal office and registered** c/o MONY Group plc **office** 1 Dean Street London W1D 3RB **The trustees** V Bissessur C L Coleman (Chair) K A Davies K M Dew (resigned August 2025) A A Gilbert (Treasurer) M G Herbert **Independent examiner** Mr Howard Schwalbe ACA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL **- 1 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2026** ## **Structure, governance and management** ## **Description of the charity's trusts** The charity is constituted by its memorandum and articles of association and is a company limited by guarantee. It was incorporated on 1 February 2007 and registered in England & Wales with company number 6078667. It was registered as a charity on 19 October 2007 with charity number 1121320. Recruitment and appointment of new trustees is in line with the articles and with the consent of the trustees. Suitable candidates are those who are sensitive to the needs and demands of the organisation and have relevant skills and experience. New trustees are briefed by the trustees on the objects and operations of the charity and are referred to the guidance for new trustees published by the Charity Commission. ## **Additional governance issues** The Charity is primarily funded by donations from moneysavingexpert.com part of MONY Group and Martin Lewis (for the administration costs of the charity). Grant applications are received and processed by the Operations Manager and reviewed by the Grant Advisory Panel (GAP) who help ensure our funding reaches organisations creating real social impact. The GAP reports to the Trustees and includes independent members with substantial experience of the voluntary sector and a strong interest in financial education and capability. Grant recipients are required to report on grants made to them so we can measure outcomes, demonstrate public benefit, and continually improve our grant making. The Charity had one employee during the year. The Trustees have assessed the major risks to which the Charity is exposed, including those related to its operations and finances, and are satisfied that systems are in place to manage these risks appropriately. **- 2 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2026** ## **Objectives and activities** ## **Registered objects** The objects of the charity are the advancement of education of the general public in the United Kingdom by providing information and improving education about debt, money and consumer issues. ## **Main activities** The Charity gives grants to UK not for profit organisations that deliver activities which make a lasting impact on how people think, behave and manage their money. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and to its supplementary public benefit guidance on advancing education when reviewing the Charity's aims and objectives and in planning future activities and setting grant making policy for the year. ## **Summary of the main achievements during the year** Following a strategic review in 2024, the Charity refined and implemented a new two-stage grant round process. In its second year of operation, the Charity committed £56,510 to nine projects in the Spring grant round in April 2025, and a further £63,780 to nine projects in the Autumn grant round in November 2025. The January 2026 grant round completed in June 2026 and will be reported in next year's annual report. ## **Spring 2025 – Grant Round** **----- Start of picture text -----**
Group name & Location Grant Category
Frampton Park Baptist Church, London £3,022 Community Outreach
Clean Slate, Newcastle £9,000 Addictions
Imago Dei, Sutton, Greater London £5,816 Women Offenders
Three13 Training and Enterprise, Stockton on £8,300 Community Outreach
Tees
Magic Torch Comics, Greenock, Scotland £9,000 Children & Young People
Lifeline (Harrogate), North Yorkshire £2,332 Homelessness
Fat Macy's, London £9,000 Homelessness
Disability Solutions West Midlands, Stoke on £2,000 Young People Disabilities
Trent
Breakout Youth, Southampton £8,040 Young People LGBTQ
Total £56,510
**----- End of picture text -----**
**- 3 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2026** ## **Autumn 2025 – Grant Round** **----- Start of picture text -----**
Group name & Location Grant Category
Community Safety Education, Manchester £3,025 Young People
Maa Shanti, London £8,000 BAME Domestic Abuse
Young and Inspired, London £3,800 BAME Family Support
The PCC of St. Mary Upton, Wirral £3,270 Young People
Stand Together Network, London £7,960 BAME Community Outreach
Legacy901, Manchester £8,050 BAME Community Outreach
The Community Kitchen Brighton/Sussex £9,825 Community Outreach
Lancashire Community Finance (IPS), Preston £10,000 Community Outreach
Participation Works North West, Burnley £9,850 Young People
Total £63,780
**----- End of picture text -----**
An evaluation report from grantees is required so the Charity can monitor and evidence social impact and public benefit, and improve grant administration processes. As part of its commitment to transparency, the Charity continues to work in partnership with 360Giving to make grant-making data freely accessible, enabling funders and charities across the UK to use it to improve grant-making practice. Details of all grants awarded since 2016 are available via 360Giving, and the Charity aims to continue publishing information about new grants each year. The GAP met formally six times during the year. The Panel currently has eight members, including three colleagues from MONY Group. Members also carried out several site visits to funded projects, helping to deepen their understanding and providing valuable feedback and insights to fellow Panel members and the Trustees. **- 4 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2026** The Charity's website is its primary way of connecting with potential applicants and members of the public. The 'Support Us' page sets out the different ways people can support the Charity, whether by donating or volunteering. To reach the widest possible audience, the Charity promotes its grant rounds through a range of channels, including its website, MoneySavingExpert's Weekly Money Tips email, X (formerly Twitter), and third-sector funding sites such as My Funding Central and Funds Online. ## **Grant Making Criteria and Process** Since 2024 the Charity has used the following criteria and process: - All applications to be aligned with the Charity's vision; “To give grants to UK non-profit organisations to deliver activities which make a lasting impact on how people think, behave and manage their money”. - All eligible non-profit organisations can apply for grant funds once per year. - The maximum project grant is £10,000. - There are two grant rounds per year, each with a two stage application process. To reduce the time and resource spent applying for funds, and in keeping with best practice across the grant making sector, the first stage only requires limited information to be provided. Following due diligence by the Charity and assessment and decision making by the GAP, shortlisted applicants are then invited to complete the full application form to also be assessed by the GAP before grant decisions are made. Applicants can check the current grant criteria by completing a short eligibility quiz, reviewing the Charity's grant-making policy (formally adopted in November 2025), the Charity's Funding Frequently Asked Questions, and the application guidance on the Charity's website. For more details, see www.msecharity.com. To ensure that grantees fulfil the grant requirements, 90% of the grant is generally paid after the funding agreement is signed and returned. The final 10% is payable only after the grant recipient has submitted the end of grant project feedback report. The Trustees are grateful to the volunteers who make up the Grant Advisory Panel (GAP) for their time, commitment and expertise through the grant making process. ## **Strategic report** The following sections for achievements and performance and financial review form the strategic report of the charity. **- 5 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2026** ## **Achievements and performance** The Charity received donations during the year amounting to £137,772 (£136,667 in FY2025) and investment income of £546 (£793 in FY2025). The Charity paid a net amount of £119,660 (£44,797 in FY2025) by way of grants for projects (including the balance payable on completion of projects approved in previous years), this was comprised of £120,702 (£50,497 in FY2025) less a grant repaid of £1,042 (£5,700 in FY2025). In FY2025, due to the change in grant making process, the Charity was only able to complete one grant round within the financial year. With the new process embedded, The MSE Charity was able to complete two grant rounds this financial year and paid out substantially more funds.The Charity is committed to payments of up to £15,388 (£16,962 in FY2025) if grant recipients reach certain project milestones. These grants and other charitable expenditure were made in line with the stated objects of the Charity. The Charity also incurred £28,213 (£26,652 in FY2025) of support and governance costs during the year with the increase primarily related to increases in salary costs and Employer NI rates. The Charity has general governance and control costs including the expenses of one employee as disclosed in the notes to the accounts. There were no material fundraising costs during the year. There was an overall net deficit and net movement in funds for the year amounting to £9,555 (£66,011 net surplus in FY2025). This was a planned reduction in Net Assets as the Charity had built up additional funds from the delayed grant round process in 2025 which were available to be spent. The Trustees are grateful to MONY Group for its support and separately to Martin Lewis who has kindly given to the Charity funds to meet the costs of the operational management and administrative services. Furthermore, we are thankful to the Dalgleish Trust for their one-off donation during the year to support The MSE Charity. In addition, the Trustees and the Charity are very grateful to Katija Dew, who retired in August 2025, having served as Chair and as a Trustee since 2011. Her extensive knowledge and experience of the voluntary sector, including financial inclusion, helped shape the Charity's strategic and operational direction over many years. We thank her for her dedication, guidance and support. ## **Financial review** ## **Reserves policy** The Charity requires reserves to protect the organisation and its charitable program by providing time to adjust to changing financial circumstances, such as an unexpected reduction in income or increase in costs. The Charity aims to balance its obligations to spend the maximum amount of its income as soon as possible after receipt and to ensure that grant applications fall within its objects, while maintaining a minimum level of reserves to ensure its operations are not interrupted. The Trustees' investment policy is to minimise investment risk by holding reserves in interest earning bank accounts. The free reserves stand at £79,668 (£89,223 in FY2025) all of which are unrestricted. **- 6 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2026** The trustees' annual report and the strategic report were approved on 14 July 2026 and signed on behalf of the board of trustees by: C L Coleman (Chair) Trustee **- 7 -** The MSE Charity Company Limited by Guarantee Independent Examinor's Report to the Trustees of The MSE Charity Year ended 31 March 2026 I report lo the truslees gn my examinabon of the financjal statements of The MSE Chanty I the charity'l for the year ended 31 March 2026. Responslbllltle$ and ba$18 of report As the trustees of the company land also its directors for the pufposes of company lawl you arè responsible for the preparation of the financi81 stslements in accordance with the requirement$ of the Companies Act 20061'lhe 2006 AcY}. Having satisfied myself that the accounts of the company are not required lo be audFted under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of rny examinaty'on ol the charity's aC￿UnIS as c8rried out under section 145 of the Charities Act 2011 I'the 2011 A¢YI. In carrying out my examination I have followed the Direclions given by the Charity Cornmission under section 14515llbl of the 2011 Act. Independent •xAmin•r'$ stat•m8nt I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe-. accc)unling records were not kept in resped of the charty as required by section 386 of the 2006 Actr, or the financk41 st81ements do not accord wi(h those records.. or the financial statements do not comply with the acctsunting requiiemenis of section 396 of the 2006 Act other than any requirement that the accounts give a'true and fairf view which is not a matter considered as part of an Inde￿ndent oxamination., or the flnanci81 statements have not been prepared in accnrdance with the methixjs and principles of the Statement of Recommended Practice for a¢¢ounling and reporting by charities applicable to charities preparing their accounts in aG¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no conce attention shou rea¢hed. s and have come acros$ no other matters in connection with the examination to which be drawn in this report in order lo enabl& a proper understsnding ol the accounts lo be Mr oward Sch IbeACA ependenl Examiner 2nd Floor- Parkgales Bury New Road PreS￿ich Manchester M25 OTL 14 July 2026 ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Statement of Financial Activities (including income and expenditure account)** ## **Year ended 31 March 2026** |||**2026**|**2026**|2025| |---|---|---|---|---| |||Unrestricted||| |||funds|**Total funds**|Total funds| ||**Note**|**£**|**£**|£| |**Income and endowments**||||| |Donations and legacies|**5**|137,772|**137,772**|136,667| |Investment income|**6**|546|**546**|793| |||--------------------------------|--------------------------------|--------------------------------| |**Total income**||138,318|**138,318**|137,460| |||================================|================================|================================| |**Expenditure**||||| |Expenditure on charitable activities|**7,8**|147,873|**147,873**|71,449| |||--------------------------------|--------------------------------|--------------------------------| |**Total expenditure**||147,873|**147,873**|71,449| |||================================|================================|================================| |||--------------------------------|--------------------------------|--------------------------------| |**Net (expenditure)/income and net movement in funds**||(9,555)|**(9,555)**|66,011| |||================================|================================|================================| |**Reconciliation of funds**||||| |Total funds brought forward||89,223|**89,223**|23,212| |||--------------------------------|--------------------------------|--------------------------------| |**Total funds carried forward**||79,668
================================|**79,668**
================================|89,223
================================| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 11 to 16 form part of these financial statements.** **- 9 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Statement of Financial Position** ## **31 March 2026** |||**2026**||2025| |---|---|---|---|---| ||**Note**|**£**|**£**|£| |**Current assets**||||| |Debtors|**14**|**1,131**||1,057| |Cash at bank and in hand||**86,502**||96,128| |||----------------------------||----------------------------| |||**87,633**||97,185| |**Creditors: amounts falling due within one year**|**15**|**7,965**||7,962| |||----------------------------||----------------------------| |**Net current assets**|||**79,668**|89,223| ||||----------------------------|----------------------------| |**Total assets less current liabilities**|||**79,668**|89,223| ||||----------------------------|----------------------------| |**Net assets**|||**79,668**|89,223| ||||============================|============================| |**Funds of the charity**||||| |Unrestricted funds|||**79,668**|89,223| ||||----------------------------|----------------------------| |**Total charity funds**|**17**||**79,668**
============================|89,223
============================| For the year ending 31 March 2026 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: - The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. These financial statements were approved by the board of trustees and authorised for issue on 14 July 2026, and are signed on behalf of the board by: C L Coleman (Chair) Trustee **The notes on pages 11 to 16 form part of these financial statements.** **- 10 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** ## **Year ended 31 March 2026** ## **1. General information** The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is c/o MONY Group plc, 1 Dean Street, London, W1D 3RB. ## **2. Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. ## **3. Accounting policies** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Judgements and key sources of estimation uncertainty** The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported. ## **Fund accounting** Unrestricted funds held by the charity are funds that can be used in accordance with the charitable objects at the discretion of the trustees. ## **Incoming resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. ## **Resources expended** Expenditure is recognised on an accruals basis as a liability is incurred, includes VAT, and is classified under headings of the statement of financial activities to which it relates: Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. **- 11 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2026** ## **3. Accounting policies** _**(continued)**_ ## **Financial instruments** A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. ## **Defined contribution plans** Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. **- 12 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2026** ## **4. Limited by guarantee** The MSE Charity is a registered charity and a company limited by guarantee and does not have a share capital. In the event of the charity being wound up, members are required to contribute an amount not exceeding £10. ## **5. Donations and legacies** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2026**|Funds|2025| ||£|**£**|£|£| |**Donations**||||| |Donations|137,772|**137,772**|136,667|136,667| ||================================|================================|================================|================================| |**Investment income**||||| ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| ||Funds|**2026**|Funds|2025| ||£|**£**|£|£| |Bank interest receivable|546|**546**|793|793| ||==============|==============|==============|==============| |**Expenditure on charitable activities by fund type**||||| ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| ||Funds|**2026**|Funds|2025| ||£|**£**|£|£| |Projects|119,660|**119,660**|44,797|44,797| |Support costs|28,213|**28,213**|26,652|26,652| ||--------------------------------|--------------------------------|----------------------------|----------------------------| ||147,873
================================|**147,873**
================================|71,449
============================|71,449
============================| ## **6. Investment income** ## **7. Expenditure on charitable activities by fund type** ## **8. Expenditure on charitable activities by activity type** ||Grant funding|Support|**Total funds**|Total fund| |---|---|---|---|---| ||of activities|costs|**2026**|2025| ||£|£|**£**|£| |Projects|119,660|26,365|**146,025**|69,614| |Governance costs|–|1,848|**1,848**|1,835| ||--------------------------------|----------------------------|--------------------------------|----------------------------| ||119,660|28,213|**147,873**|71,449| ||================================|============================|================================|============================| **- 13 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2026** ## **9. Analysis of support costs** |||Analysis of||| |---|---|---|---|---| |||support costs||| |||activity 1|**Total 2026**|Total 2025| |||£|**£**|£| ||Staff costs|24,215|**24,215**|22,547| ||General office|2,150|**2,150**|2,270| ||Governance costs|1,848|**1,848**|1,835| |||----------------------------|----------------------------|----------------------------| |||28,213|**28,213**|26,652| |||============================|============================|============================| |**10.**|**Analysis of grants constituted groups**|||| ||||**2026**|2025| ||||**£**|£| ||**Grants to institutions**|||| ||Projects||**119,660**|44,797| ||||--------------------------------|----------------------------| ||Total grants||**119,660**|44,797| ||||================================|============================| |**11.**|**Independent examination fees**|||| ||||**2026**|2025| ||||**£**|£| ||Fees payable to the independent examiner for:|||| ||Independent examination of the financial statements||**1,620**
=======================|1,620
=======================| ## **12. Staff costs** The total staff costs and employee benefits for the reporting period are analysed as follows: ||**2026**|2025| |---|---|---| ||**£**|£| |Wages and salaries|**23,188**|21,558| |Employer contributions to pension plans|**1,027**|989| ||----------------------------|----------------------------| ||**24,215**
============================|22,547
============================| |The average head count of employees during the year was 1 (2025: 1). The average|The average head count of employees during the year was 1 (2025: 1). The average|number of| |---|---|---| |full-time equivalent employees during the year is analysed as follows:||| ||**2026**|2025| ||**No.**|No.| |Administrative staff|**1**|1| ||==============|==============| No employee received employee benefits of more than £60,000 during the year (2025: Nil). ## **13. Trustee remuneration and expenses** No remuneration or other benefits from employment with the charity or a related entity were received by the trustees other than those disclosed in the related party note. **- 14 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2026** ## **14. Debtors** ||**2026**|2025| |---|---|---| ||**£**|£| |Prepayments and accrued income|**1,131**|1,057| ||=======================|=======================| |**Creditors:** **amounts falling due within one year**||| ||**2026**|2025| ||**£**|£| |Accruals and deferred income|**1,620**|1,620| |Social security and other taxes|**6,261**|6,262| |Other creditors|**84**|80| ||-----------------------|-----------------------| ||**7,965**
=======================|7,962
=======================| ## **15. Creditors: amounts falling due within one year** ## **16. Pensions and other post retirement benefits** ## **Defined contribution plans** The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,027 (2025: £989). ## **17. Analysis of charitable funds** ## **Unrestricted funds** |**Unrestricted funds**|||||| |---|---|---|---|---|---| ||||||**At**| |||At|||**31 March**| ||1|April 2025|Income|Expenditure|**2026**| |||£|£|£|**£**| |General funds||89,223|138,318|(147,873)|**79,668**| |||============================|================================|================================|============================| |||At|||At 31 March| ||1|April 2024|Income|Expenditure|2025| |||£|£|£|£| |General funds||23,212|137,460|(71,449)|89,223| |||============================|================================|============================|============================| **- 15 -** ## **The MSE Charity** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2026** ## **18. Analysis of net assets between funds** ||Unrestricted|**Total Funds**| |---|---|---| ||Funds|**2026**| ||£|**£**| |Current assets|87,633|**87,633**| |Creditors less than 1 year|(7,965)|**(7,965)**| ||----------------------------|----------------------------| |**Net assets**|79,668|**79,668**| ||============================|============================| ||Unrestricted|Total Funds| ||Funds|2025| ||£|£| |Current assets|97,185|97,185| |Creditors less than 1 year|(7,962)|(7,962)| ||----------------------------|----------------------------| |**Net assets**|89,223|89,223| ||============================|============================| ## **19. Contingencies** The charity retains 10% of all grants made, pending the submission of the feedback form by the grantee. The contingent liability for these retentions, as at 31 March 2026, was £15,388. ## **20. Related parties** During the year K A Davies, trustee of The MSE Charity, received £20,856 in gross remuneration (excluding pension and NI contributions) for administrative work. She was not paid for her role as trustee. ## **21. Taxation** The MSE Charity is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities. **- 16 -**