REGISTERED CHARITY NUMBER: 1121758
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2021
for
The Matthew 25:35 Trust
A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA 3 Wey Court Mary Road Guildford Surrey GU1 4QU
The Matthew 25:35 Trust
Contents of the Financial Statements for the Year Ended 31 December 2021
| 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 9 |
The Matthew 25:35 Trust
Reference and Administrative Details for the Year Ended 31 December 2021
| TRUSTEES | H C Mather Chairman |
|---|---|
| Mrs A S Mather | |
| Dr J D Weldon | |
| Mrs F A Varley | |
| Mrs E J Mather | |
| A P Mather | |
| N P Varley | |
| Rev N P Weldon | |
| PRINCIPAL ADDRESS | PO Box 1077 |
| Guildford | |
| Surrey | |
| GU1 9HQ | |
| REGISTERED CHARITY NUMBER | 1121758 |
| INDEPENDENT EXAMINER | A J Bennewith FCA, FCPA, FFA, FFTA, |
| FIPA, DChA, FRSA | |
| 3 Wey Court | |
| Mary Road | |
| Guildford | |
| Surrey | |
| GU1 4QU | |
| SOLICITORS | Charles Russell Speechlys LLP |
| One London Square | |
| Cross Lanes | |
| Guildford | |
| Surrey GU1 1UN | |
| BANKERS | NatWest |
| 151 High Street | |
| Guildford | |
| Surrey GU1 3AH |
Page 1
The Matthew 25:35 Trust
Report of the Trustees for the Year Ended 31 December 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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
Activities
The trustees met regularly in 2021, considering applications from organisations and individuals in the UK and overseas. 17 grants amounting to £59,000 in total were made to 14 different organisations and one individual. Six grants were made to programmes in the UK; two grants each to projects in Uganda and in South Africa; and one each to Afghanistan, Central Asia, DRC, Eastern Europe, Malawi, Nepal and Papua New Guinea.
In all cases the trustees were satisfied that the applications met the Trust's objectives and have received receipts and progress updates to ensure projects are being delivered as described. Most of the organisations are registered UK charities and for the others, governance arrangements were carefully checked. Supervision, risk management and reporting were all considered sound, given the scale of the activities. Typically, grants are in the range of £1,000 to £10,000 and project time scales up to 12 months. Trustees are in regular contact with the organisations and individuals they support, hence the residual risks are considered minimal.
The public benefit was evident from the nature of the projects. Grants in the UK helped address the impact of COVID-19 generally and more specifically supported charities working to help those struggling with poverty and debt. A grant was also made to churches who support destitute refugees arriving in London from Iran and the middle east. Overseas grants supported humanitarian relief and community development in countries ravaged by war, natural disasters, climate change and a breakdown in civil society from corruption and COVID. Grants were also given for mission and ministry training in Eastern Europe, Central Asia and South Africa. In all cases the Christian message was integral to the activity, in keeping with the objects of the charity.
FINANCIAL REVIEW
Financial Review
During the year ended 31 December 2021, income was £60,384 of which £60,383 was donations. Expenditure was £60,252 of which grants at £59,000 accounted for 98%. Governance and administration costs amounted to £1,252, which is 2%.
The Trust's policy on reserves is to retain a minimum level of £5,000 in cash, so that it can respond in case of urgent need. At the end of 2021, £5,847 in cash was available for disbursement. No funds are held as custodian trustee on behalf of others.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Constitution and commencement
The charity was created by a Declaration of Trust dated 25 September 2007 and made its first gift in May 2008.
Approved by order of the board of trustees on 15 February 2022 and signed on its behalf by:
H C Mather - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Matthew 25:35 Trust
Independent examiner's report to the trustees of The Matthew 25:35 Trust
I report to the charity trustees on my examination of the accounts of The Matthew 25:35 Trust (the Trust) for the year ended 31 December 2021.
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.
A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA
3 Wey Court Mary Road Guildford Surrey GU1 4QU
Date: 18 February 2022
Page 3
The Matthew 25:35 Trust
Statement of Financial Activities
for the Year Ended 31 December 2021
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 60,383 | 65,500 | |
| Investment income | 2 | 1 | 4 |
| Total | 60,384 | 65,504 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Charitable | 59,327 | 65,316 | |
| Governance costs | 925 | 315 | |
| Total | 60,252 | 65,631 | |
| NET INCOME/(EXPENDITURE) | 132 | (127) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 5,115 | 5,242 | |
| TOTAL FUNDS CARRIED FORWARD | 5,247 | 5,115 |
The notes form part of these financial statements
Page 4
The Matthew 25:35 Trust
Balance Sheet
31 December 2021
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 5,847 | 5,115 | |
| CREDITORS | |||
| Amounts falling due within one year | 5 | (600) | - |
| NET CURRENT ASSETS | 5,247 | 5,115 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 5,247 | 5,115 | |
| NET ASSETS | 5,247 | 5,115 | |
| FUNDS | 6 | ||
| Unrestricted funds | 5,247 | 5,115 | |
| TOTAL FUNDS | 5,247 | 5,115 |
The financial statements were approved by the Board of Trustees and authorised for issue on 15 February 2022 and were signed on its behalf by:
H C Mather - Trustee
A S Mather - Trustee
The notes form part of these financial statements
Page 5
The Matthew 25:35 Trust
Notes to the Financial Statements for the Year Ended 31 December 2021
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.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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. INVESTMENT INCOME
| 31.12.21 | 31.12.20 | |
|---|---|---|
| £ | £ | |
| Deposit account interest | 1 | 4 |
continued...
Page 6
The Matthew 25:35 Trust
Notes to the Financial Statements - continued
for the Year Ended 31 December 2021
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |
|---|---|
| Unrestricted | |
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 65,500 |
| Investment income | 4 |
| Total | 65,504 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable | 65,316 |
| Governance costs | 315 |
| Total | 65,631 |
| NET INCOME/(EXPENDITURE) | (127) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 5,242 |
| TOTAL FUNDS CARRIED FORWARD | 5,115 |
continued...
Page 7
The Matthew 25:35 Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 31.12.21 | 31.12.20 | |||
| £ | £ | |||
| Other creditors | 600 | - | ||
| 6. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.21 | in funds | 31.12.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 5,115 | 132 | 5,247 | |
| TOTAL FUNDS | 5,115 | 132 | 5,247 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 60,384 | (60,252) | 132 | |
| TOTAL FUNDS | 60,384 | (60,252) | 132 |
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.1.20 | in funds | 31.12.20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 5,242 |
(127) | 5,115 |
| TOTAL FUNDS 5,242 |
(127) | 5,115 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 65,504 |
(65,631) | (127) |
| TOTAL FUNDS 65,504 |
(65,631) | (127) |
continued...
Page 8
The Matthew 25:35 Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
8. INDEPENDENT EXAMINER'S REMUNERATION
| Independent Examiner's remuneration | 2021 £ 600 |
2020 £ 325 |
|---|---|---|