THE MALDON MUD RACE LTD (A company Ilmlted by guarantee) REPORT AND FINANCIAL STATEMENTS FOR ThE YEAR ENDED 30 SEPTEMBER 2023 CHARITY REGISTRATION NUMBER: 1135532 COMPANY REGISTRATION NUMBER: 07102189 THE MALDON MUD RACE LTD CONTENTS FOR THE YE4R ENDED 30 SEPTEMBER 2023 Pago Legal and Admlnlstrative Details Trustees, Annual Report Independent Examlnees Report Statement of Flnanoal Actlvltles Balance Sheet Notes to the Financial Statements THE MALDON MUD RACE LTD Page: 1 LEGAL AND ADMININISTRATIVE DETAILS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Charty registration number. 1135532 Company reglstratlon number: 07102189 Prlnclple address: Office 2 The Reach 687-693 London Road, W&stclbffwon-S8a Essex. SSO 9PA Reglstered office address: Off￿e 2 The ReaGh 687-693 London Road, Westcl1ff￿n-Sea Essex. SSO 9PA Trustees: Brfan F8rrington Colln Mclntosh Roy Hemsworth Sarah Well8r Timothy Lodge Rhialn Oakley Luke Plpe Directors: Brian Farrington Colin Mclntosh Roy Hem8WOrth Sarah Weller Timothy Lodge Rhiain Oakley Luke Flpe Bankers: Melro Bank 38 High Stre8t Chelmsford Essex, CM1 1BE Page: 2 THE MALDON MUD RACE LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023 The trustees submtt thelr annual report and tha unaudtted finanaal statements for the yaar ended 30 September 2023. The trustee8 have adopted tho provhlons under FRS102 Sec1k￿ 1A Small Entmes. the companles Act 2006 and In accordan¢o wlth the Statemant of Recomm8nd8d Practlce ISORP FRS102). Accounting and Reportlng by CharNle8 publlshed In 2011. The charity is a charltable company limlled by guarante8 and wa8 set up 11 December 2009. It Is governed by a memorandum and artl¢bs of assoclatlon. Its oble¢ts are to furlher such Ghlrltable wrposes as the Trustees may date￿In￿. In partlcular by the provI8￿n of grants to other Charlties. 8tru¢tur•, 90￿Man￿ •nd managemfrnl Tho Maldon Mud Rac• Llmltsd18 an Incorporated charfty and a company Ilrnlled by guarantee. Th8 pollcy of the charltable company Is dlr8ct8d by the Tru8tee8 themselves. There are sev￿ honorary officers are regarded as Iru$toe8 of The Maldon Mud Race Llmltsd as they ar8 r88pon81ble for the management (rf the charltable company. Tho Tru8t88s are alw regard￿ as tho dlr•¢tor8 of the chadtable cornpany (Ihe chariVI for the purposes of company law and also118 Iru8lee8 for purp0888 of charlty law. The Irustee8' rewt ¢l8rlfi8$ that It l¥ dlrector8' report requlred by Sectlon 417 of the Compante$ Act 2006 and that all Iru8tees are dlrector8. Tho truste￿ are olectod annually at the Annual Ganoral M8etlng and those 8erved durlng the financlal Per￿d ended 30 September 2023 are118led on the attached schedulo of Legal and Admlnl8trallve Infomiation. Each trustee'8 role on the Board would b8 r8vE8wed al least every 3 years. The board of tru8tee8 meet monthly In order to meet th•lr ro$pon$lbllltles. and admln18ter the chartty. There Is a management t6am %*lth two m8mber8, who monlior the day to day a¢llvlUe$, admlnlstratlon and flnance of the chadty. ObJ•¢llv•8 and ￿lIvI108* Th object8 for whlch th8 company18 8slablL8hed Is to lurther such CharItab￿ purpo8e8 88 the Tru8tee8 may delemlne. In partlcular by the pr￿slon of grants to olher ¢harlUes. To achleve the obJectlve$ of the ¢h8rlty a yearly raco across the dver Blackwater18 held bt Is al Its lowest tlde dudng Spring each year. Th18 lakes place from Ihe quay ot Maldon Promonade. Competltors who enter ral$& $pon8orshlp for Ihe nomlnated Gharwes of the Maldon Mud Race and can have 50% of thelr 8pon8or8hlp rn18ed donat￿ to a roglBterad ¢harlty of thelr cholce. Other events are belng con$lderod. We have ffj1W￿d to the guidance containod In the Charlty Comm18slon'8 general guldan¢e publlc bgn8fit when reviewlng our aim and objectives and in plannlrwj our future 8Ctivitles. In partitJJlar, tho truste85 conslder how planned 8¢U￿tIeS wlll Cont￿bUte to the aims and objectives they have set. Tho tharity has complled wllh the duty In Sectlon 17 of the Charflles Act 201110 hav8 due regard to th8 publlc benefit guld8nce publlshed by the Charity Commission. Achhvements and pgrforniance The state of the company's affalrs and the results forthe period aTe shown in the attached accounts. Page.. 3 THE MALDON MUD RACE LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023 Investment policy and returns The Gharitable ￿MpanY has the po*w to invest money not imfflediately requ￿ed for its objectbves in or upon such investments. securities or property as the assoGiation may think fil. $ubje¢t to $u¢h Condittons Imposed by law. Flnanclal revlew The trustees monltor the proyress of a¢tivilies at ea¢h monthly meelng and a ¢￿prehensIVe review Is ¢arried out annualty. Unrestricted funds are needed: to provide fvrKl$ which ¢an be d&signated to Specif￿ proj6¢ts to Onable these projpcts to b8 undertaken at short notice to cover admlnistratlon and support costs vAth(MJl vthlch the chartty could not fiJnGtion The trustees conskler It prudent that unrestrlcted reser4es should be suffi¢lent: to avoid the n8e8ssty of realisirwJ fixed assets h81d for the charltls use to cover one yearfs admlnlstratkn and $UpF￿rt costs to provkle ftnanctal fiexlblllty over thè coursa of forthcorning challwwe8 R•$em¥ policy The trustees have established a policy whereby the unrestri¢led funds not committed or invested in tangible fixed assets held by lh8 charity should b8 suffictenl to fund the initial pr￿a¢e expenditure. The present level of reserves Is con9tde￿d suffldent for this purpose. The Twstees have estsblished a designated speclal tKolect fund separate from the general fund. The purpose of Ihls fund Is to provkle funding forfuture ¢)ne off $po¢ial projects that may be identtfied from Ilme lo lime that the trustees feel are worthy of a signrficant separate don8tlon. It Is the Intention of th& Tntst8es lo build this fund and to malntaln It lo a level of £30,000. Funds will be added gach year as the Trustees see fit to roach the dosirod lov81. without pr￿￿licIng current18veb of annu81 donatlons to ¢h8rtlies. Th8 trustees cffj out an annual r￿aW of th& risks whi¢h the charitable Gompany may face and set out the pro¢edures to minimise any potential impact on the char5table company should any of the dsks materlali$g. Charllable Donatlon8 Tho company mad& charitable donatlons during th8 year to a total sum of £22,587 SpJned on h If of the twste8S. Brian F Dale: rrin lon Pa THE MALDON MUD RACE LTD INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 We report to the Tru8te88 on my examlnalEon of the accounts for the year ended 30 Sept 2023 set out on pages 5-9 Rosponslbllltles and bas1$ of rèport As the tharlV8 trustees. are respon8lblo foi tho praparntlon of tho accounts In a¢xordan¢e vAth the requlrnments of th8 Charllles Act 2011 {'the Acr). I report In ro$po¢1 of my examlnauon of the Tru8f8 acwjnts carrfed out under sectlon 145 of the 2011 Act and In Car￿ng out my examlnation, I hav6 follo￿d all the applkable Dlrectkns glven by th8 Charlty Comml8sSon under 8ectlon 145{5llb) of the Act. Indop•nd•nt oxamln•rf8 8tst8ment l am qualKled lo undertake the examSnatlon by belng a qualmed member of the A880d0￿On ol Charterod Certmed Accounlanis. I havo compk8led my oxamlnalkn. I confirm that no matorfal mattor8 have come to my attentlon In connèctlon wlth th? oxamlnallon gI￿ng me cause lo bellevè that In any materfal r88pecL' 1. accountlng record8 were not kept In accordance vlth sectbn 130 of the Chadlle8 Act: or 2. the accounts do nol a￿Ord ￿th thos6 rocords: or 3. the account8 dld not cimnply ￿￿th th8 appltcable requlrements concernlry the form and content of 8ccount8 I have no concerns and have come acros8 no other matter8 In conne¢tlon wlth the examlnalon to whlth atten￿on Should be drawn In thls report In order to enable a proper understandlng of the aGwunts to b6 Adam H son FCCA APH Accountancy Servlces Ltd Offlce 2 The Reach 687493 London Road W•8tcllffryon4•a E8sex SSO 9PA Dale: Page: S THE MALDON MUD RACE LTD STATEMENT OF FINANCIAL ACTIVETIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 D¢slqMt•d Un¥•otrkl8d F¥nd• Fund• Y•ar Incomlng Resources Incoming resources from gOnor￿r￿d funds.. Aclvltlos for goneratlng funds: Corporate Sponsorship Competitors donations Race Entry Fees Return of entry fees for cancelled event Events Incomè Stalls Merchandtse and conce8skJn8 Traller Hlre Mis¢ income Total Incomlng Re8ourcos 21,378 21,378 29,845 29,845 . 16,200 16,200 13 13 67 436 67 436 ,, Resources Expended Cost of generating funds: Dlrect L*arity expendllure: Sound and vision ¢osts Event security costs Competitors ra¢0 packs Merchandise Signag8 and equipment hlre u>sts Event sundry costs Insurance Trailer repairs Maldon District Council Prom rent Paypal charges Just giving charges Strfpe charge$ Facebook advertising Dopre¢iation Govemance costs.. W•bsite èxpenses Indepgndent examinors feo Sundry expenses Dlrectorfs Insurance Total Resour¢e$ Expertded Net movement on fijnds Donatlon$ to Instliutlons Net Incomlno resources (resources eX￿nded) Movements betr￿ funds Funds at 1 October 2022 Funds at 30 September 2023 14.889 14,889 4.930 4.930 465 465 1.607 1.607 9.715 5.926 2.437 2.788 1.175 2.693 2.491 8.378 2.733 1,477 1,700 6.378 2.733 1,477 1,700 18 297 581 353 996 353 498 300 498 300 306 300 5,390 252 35,276 2,669 260 260 37,285 37,265 30,171 30,171 22.587 22,587 7,584 7,584 2.6PJ9 18,609 18,609 26.193 26,193 27.941 30,610 Page.. 6 THE MALDON MUD RACE LTD BALANCE SHEET AS AT 30 SEPTEMBER 2023 Notes 2023 2022 Tangible fixed assets 2,040 2,720 Current assets Slock Trade debtors, prepaid expenses and accrued income Cash al bank and in hand 1,232 1,697 41,045 44.317 17,317 21,734 Current Ilabllltles Accruals and prepald income -18,125 -3,125 Total assets less current Ilabllltles 26,192 18,609 Funds Unreslricled funds - General Designated funds - Half Marathon Designaled funds - Special Projects 26,193 18,809 Total funds 26,193 18,609 For the financial year endod 30 September 2023 the company was enlllled lo exempllon to audll under the provlsions of sections 475 and 477 of the Companles Act 2006. No member or members eligible has deposited a nolice, pursuant to section 476, requiring an audit of these financial slalemen15 under the requirements of Ihe Companies Act 2006. The directors acknowledge their responsibilities for: Complying with the requirements of the Companies Act 2006 with respeGt lo aGcounling reGord5', and preparing financial slalements which give a true and fair view of the slate of affairs of the company as al the end of the financial period and of ils surplus or deficit for the period in accordance with the requirements of sects'on 394 and 395 of the Companies Act 2006 and which olherwise comply with the requirements of that Act relating to financial statements so far as they are applicable lo the company. Approved by th Board of Trustees and signed on its behalf by= r Brian Farrington Dale: Company registration number.. 07102189 Charity registration number= 1135532 Page: 7 THE MALDON MUD RACE LTD NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 30 SEPTEMBER 2023 1 Aeeountlng polkl86 Thé folbwlng acC￿n11n9 pourjes u8ed in dealhg ￿1h items are ¢)mmended Practlce {SORP FRS102). AC(X￿ntilvj arKI Reportlng by Charities putrAL8hed in 2011 and applicable accountlng slandard¥. 12 Company •latu8 Th8 Chafty Is a Lx>rnpany Ilmlted by guarantee. The mernbers of the company are the truste88 namod In pago 1. In thè evont ol thè chartty tdng ￿)Und up. th& Ilablfjty In ffjpsect of guarantee Is linlted to £1 per memb8r of the charlty. 1.3 Incomlng rn•ou￿8 Incomlng r•sourc•s from op•rntlng acdvltlos All Income re80urc*s are included in the SOFA the cthathy18 ltyalty enulled to the Incom• arKI the amtyjnt can be quanllfied wllh rea¥onabh awJraGy. Fcff legacles. enlldemant 1$ tho •arMer of the chaty noffied ol an ￿p￿dIva dI8trllxrtk￿ or Ihe legacy balng rece5ved. Incc*no18 doferred onty tho chadty ha8 to fijifi cond1th)￿ boforn b8comlrKd enllued to IL Donallon• Inv88tment Is recognlsed In Ihe aCC￿nts it18 received. Resources oxporthd are Ind￿18d In Ihe stat￿OnI of Flnandal A¢trAlles ￿ an accruals baslg, exc￿dIng VAT vhwe appllcable. Certain 0XP•KIl￿r?s are direGlly attrfbutsblo to (*arltab activltles and have been in￿ded in Direct Charitabte eX￿diture. Glfts In klThl donated for dlstrfwkn are at valualSon and recognlsed as In(xJme *fien they arn distributed to the prcieds. Gifts