**MASTROE (REGISTERED CHARITY NUMBER - 1135677) (REGISTERED COMPANY NUMBER - '07005589)** 

## **REPORT OF THE TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020** 

|**Content**|**Page**|
|---|---|
|**Directors' Report**|**2-4**|
|**Examiner's Report**|**5**|
|**Statement of Financial Activities**|**6**|
|**Balance Sheet**|**7**|
|**Notes to the Accounts**|**8-12**|





## **MASTROE DIRECTORS' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2020** 

## **Charity's Full Name** 

Mastroe 

## **Trustees/Directors** 

Akin Adeniran Faith Okhuoya Samuel Tawede 

## **Principal Contact Address** 

25 Greyfriars Bedford MK40 1HJ 

## **Bankers** 

Santander Bootle Merseyside L30 4GB 

## **Independent Examiner** 

Edward Consulting Limited Fifth Floor Room 12, City Gate House 246 – 250 Romford Road London, E79HZ 

## **Structure, Governance and Management** 

The Charity is controlled by its governing document, a deed of trust and Constitutes a limited company,limited by guarantee as defined by the Companies Act 2006. 

The Charity has no Share Capital and the Liability of each member in the event of winding-up is limitedto ￡1. 



## **MASTROE TRUSTEES' ANNUAL REPORT (Contd.) FOR THE YEAR ENDED 30 SEPTEMBER 2020.** 

## **Mastroe Aims and Objectives** 

-The Principal aims & Objectives of the charity are: 

-The Alleviation and relief of poverty,hardship and distress arising therefrom to those in need. 

-To relief unemployment mainly for the benefit of poor, marginalized and underprivileged people. -To support the work of agencies in the relief of poverty whether in the United Kingdom or elsewherein the world and in particular(but without limitation)by the exchange of resources, informationand expertise with other Mastroe Agencies worldwide. 

-To fulfill such other purposes as may from time to time be recognized by English Law as being Charitable and which the charity shall from time to time determine. 

## **Summary Of Activities and Achievements during the Year** 

Mastroe  is a charitable organization that uses a combination of classroom training and social enterprise projects to deliver FREE or AFFORDABLE  practical training. mentoring and skills development within the local community especially to individuals experiencing significant personal or occupational barriers to employment, training or social inclusion. 

Mastroe was able to provide support to **just under 1000 people** from the local Bedford community this year. The covid pandemic provided a lot of challenges this year within our local Bedford communities, The UK and the world at large. Mastroe, a small local charity was able to get involved by working with local charities and funders to provide help and support to disadvantaged people and other people affected. With funding received from the Bedford Harpur Trust and the Bedford Luton Community Foundation -  rather than buying ready made reusable mask; Mastroe was able to employ the skills of local Bedford Based Seamstresses to work to manufacture just over 1000 sewn and printed (reusable) face masks that were distributed all over Bedford especially to the homeless and other marginalised groups. Mastroe also offered additional protection by providing filters that were worn inside the facemasks as well as design and print large safety information that were placed in and around Bedford. 

In terms of training Mastroe provided training, mentoring and support to **81 people this year** this is slightly less than **122 people that we had forecast for the year** however its almost double the 52 trainees supported in the previous year. When We factor in the **986 people that were supported with** our KEEP BEDFORD SAFE – Facemask project – We can conclude that this is the year that Mastroe has provided the highest level of support and engagement within the community since Mastroe was founded over 10 years ago. 

Our training programmes were hindered by the Covid Pandemic as less people were able to physically attend. However the equipment made available to Mastroe from the **BEDFORD HOUSE OF INDUSTRY (Equipment Grant)** such as our state of the art touch screen training Television made it possible to connect and provide training very easily online – hence some Trainees could stay in the safety of their homes but were still able to fully benefit from our free courses attending online. We had to learn very quickly with new software such as **OBS** that was used for screen recording and transitions – Previously were only able to project a tiny image onto a white wall. 

Mastroe also employed the use of online Social Media marketing for advertising our training programmes and we were really amazed by the level of uptake. In terms of the total number of people trained it was around 50% online versus classroom training however 4 of the trainees were from London and other regions so the number of trainees local to Bedford this year was 97 out of 81. 



## **MASTROE TRUSTEES' ANNUAL REPORT (Contd.) FOR THE YEAR ENDED 30 SEPTEMBER 2020** 

We are quite happy at the level of work carried out by our small sized charity and are looking forward to improving our outreach strategy and helping more individuals in difficulty within our local community in the coming year. 

In terms of grants, Mastroe secured in this financial year grant payments of £11,998 compared to £6,550 recieved last year. This amount is represented by an initial payment of £4998 out of a total grant £19990 to deliver Admin with SAP project for the European Social Fund and Skills Funding Agency – the grant was managed by SEMLEP. Please note that Mastroe has already completed the delivery of this programme. 

Mastroe also received a £5000 grant award from the Bedford Police and Crime Commissioner on the behalf of the Home Office (UK) to deliver our Entrepreneurship – Youth Training programme. The programme was administered by VEDU (Violence and Exploitation Reduction Unit) to help bring down the crime rate in our local community. The programme was delivered on time and to budget. 

Finally as previously discussed, Mastroe received a grant of £2000 from the Harpur Trust and the BLCFBedford Luton Community Foundation. 

For the next year Mastroe secured another grant from the ESF of £19997 to delivery the Social Media Marketing course – This application has been approved subject to a few minor conditions. We have also been involved in the final round of funding application to the ESF to deliver our Video Editing course. 

Mastroe has generated £12,998 of social enterprise revenue this year compared to £22,491 the year before and £23,980 the year before that. The shortfall was primarily because of reduced activity caused by the pandemic. Mastroe however, like many other small organisations within the community received a COVID grant of £10,000. This grant helped toward many things including the delivery of our ESF Funded programme. Finally, Mastroe was able to secure income from our insurance claim of £10,645 due to water damages from the occupants of the Flat above Mastroe. 

Our strategy for the coming year is to be able to charge affordable amounts for some of our courses and to improve our social enterprise activities to be able to deliver our training programme all through the year as opposed to our current setup where our development and training programmes can only be delivered when grant funding is secured.. 

We would like to especially thank The Bedford House of Industry who have been instrumental to the growth of Mastroe and would like to take this opportunity to appreciate and the Trustees for believing our vision and providing year on year support of Mastroe despite being a small charity. It is also great being supported by other local grant funder this year and we would like to also thank the Trustees of the Harpur Trust  as well as the Bedford Police and Crime commissioner for their support, Finally we want to thank The European Union Social Fund, The Skills Funding agency and SEMLEP that has managed the grant so effectively enabling Mastroe to plan effectively for the coming years our support for some of the most marginalised individuals in our community. 

**P** was a young single mother of ethnic minority origin **who lost everything during the pandemic** – **her job, her home and ultimately her child** . She came on the Admin with SAP course run by Mastroe and received a lot of support and mentoring. She successfully completed the course and now **we have helped her to move into a house, She is now in full time employment and reunited with her son** . **We are also very proud of S** – a young male also of ethnic minority origin. When He came to us – He had no idea of what to do with his life. Now after completing the Admin with SAP course – He is now a **SAP a team leader** at one of the most prestigious breweries in Bedford. We do not know of any other local organisation 



## **MASTROE TRUSTEES' ANNUAL REPORT (Contd.) FOR THE YEAR ENDED 30 SEPTEMBER 2020** 

delivering this type of change through advanced upskilling programmes in Bedford. This is only possible because of the choice of our funders to support our programmes and help us to deliver them for FREE to local individuals who would otherwise not be able to afford or engage with such opportunities. 

Although the majority of our training at Mastroe is for people over the age of 18, we were happy with the very positive impact that we had on the young people based on the feedback from their teachers and their writeup on the impact of their time at Mastroe. Our success rate in getting our trainees into work, further education, work experience and business startup reduced to 62% as opposed to 69% in the last year and 64% the year before. The majority of our beneficiaries moving into work in Bedford with others moving into training opportunities in Bedford. 

. The success stories of our beneficiaries can be viewed on the Mastroe.org website under About Us – Success Stories. 

## **Premises** 

Mastroe is centrally located at 25 Greyfriars Bedford. MK40 1HJ. The strategic move to the centre of Bedford has been effective for both our training and Social Enterprise projects. Despite the pandemic – Mastroe was able to serve DIRECTLY within our social enterprise just over 700 direct customers this year from our premises. This does not include those served using the facemask project or Training. However as previously stated, our social enterprise income this year was severely affected by the Covid Pandemic. The premises lease / rent is still a primary cost at Mastroe as the premises is required for all Mastroe Training, development and social enterprise activities. Some water damage in the premises from residents upstairs were repaired with our insurance claim.  Mastroe training centre was not fully utilized this year due to the Pandemic however Mastroe was able to engage with Beneficiaries in other ways primarily via online social media community marketing and online training. Apart from our **social media management course** that we look to run in the coming year (based on the receipt of ESF grant), we plan to engage  more potential clients using **online marketing** – going forward. The city centre location close to the central Bedford Bus station and town centre ensures that we are close to the heart of the community and within easy reach of our clients. We would also like to thank our Landlords – The Bedford council for Rent discounts and their regular help. 

## **Social Enterprise Critical Equipment** 

**The effect of the large touch screen TV at our training centre has been immense** primarily because of the touch and wireless functionality. We cannot thank the House of Industry enough. This equipment has allowed Mastroe to be able to redefine how we deliver community training and we are still discovering new ways that this equipment is allowing us to help our trainees. 

Mastroe is applying for funding for new computers primarily because most of our computers are older used computers that were donated to us over 10 years ago and are mostly not able to handle the work to be carried out by our trainees on our creative graphic design, photo editing or Video editing programmes. 

Mastroe has been able to secure 3 of the 6 equipment required for our social enterprise. The social enterprise enables Mastroe to generate funds to be able to deliver FREE or AFFORDABLE training programmes. The extra equipment required will help us to be faster and able to work more quickly and efficiently. Mastroe is also looking to start running apprenticeship programmes within our social enterprise and we are already gearing our premises and duplicating some of our less expensive equipment for this purpose. 



## **MASTROE TRUSTEES' ANNUAL REPORT (Contd.) FOR THE YEAR ENDED 30 SEPTEMBER 2020** 

The majority of our social enterprise customers are new or existing small startup businesses in Bedford who make use of our low cost design and print of business items including signs, flyers, business cards, uniforms. Mastroe is also using our creative videography and photography projects to help businesses create marketing videos and materials to help boost their businesses. 

In the coming year, Mastroe looks to streamline our social enterprise – this will help us to achieve our vision of running community training and development programmes, apprenticeships, upskilling programmes, community workshops all through the year – and not only when grant funding is available as is currently the case. 

## **Staff** 

Mastroe took on 3 staff on a short term paid contract basis to help complete the delivery of Mastroe funded training, mentoring & development programs. These consisted of 1 experts and 2 Mastroe previously trained individuals recruited as support staff. This was also a high cost to Mastroe. 

## **Gift in Kind – Diversion from Landfill** 

For gifts in kind, Mastroe was able to secure a gift of a screen printing set from an online seller. We are very grateful for this as we have so far not been able to use or provide training in screen printing techniques which is used heavily in industry for bulk printing. We would also like to thank Amari Plastics for the £1170 of equipment that was donated to Mastroe last year and Fujifilm Bedford that donated in previous years Roll print media valued at £4880  saving 1.2 tonnes of landfill transfers. These print rolls are still generating income for Mastroe today and we are very grateful to Fujifilm.  Gifts in kind of equipment and material assets are very important and work alongside other equipment and assets for revenue generation within our social enterprise - helping to reduce our overall manufacturing costs as well as reduce our cost of providing training, apprenticeships, work experience, upskilling and more. 

## **Grant Funding and Donations** 

Of the 10 grant funding applications made this year, Mastroe successfully secured three. First was a grant of £19990 of which £4998 has been refunded to Mastroe. This grant was provided by the ESF and SFA managed by SEMLEP  to deliver Admin with SAP project to disadvantaged individuals within Bedfordshire. Please note that Mastroe has already completed the delivery of this programme. 

Mastroe also received a £5000 grant award from the Bedford Police and Crime Commissioner on the behalf of the Home Office (UK) to deliver our Entrepreneurship – Youth Training programme. The programme was administered by VEDU (Violence and Exploitation Reduction Unit). The programme was delivered on time and to budget. 

Finally as previously discussed, Mastroe received a grant of £2000 from the Harpur Trust and the BLCFBedford Luton Community Foundation. 

In the next year Mastroe is looking forward to receiving a grant of £19997 from the ESF – this grant is quite crucial to help Mastroe meet our community engagement targets post covid. 



## **MASTROE TRUSTEES' ANNUAL REPORT (Contd.) FOR THE YEAR ENDED 30 SEPTEMBER 2020** 

## **Work Experience, Volunteers & Return To Work** 

Mastroe had a total of 4 volunteers and 3 people on development and work experience programs during the year as well as temp staff recruited to deliver and support our training programmes. This time given represents 1800 hours with a notional value to Mastroe of £11,700. This excludes 

support time provided. Our volunteers  and staff still provide help for Mastroe however most of our  trainees have moved into other opportunities in and around Bedford that include training, freelancing, education, full or part time work. 

## **Future Developments** 

## **Training** 

Although Mastroe was able to train/ support over 81 beneficiaries this year compared to 52 last year despite the Covid Pandemic. We are still focussed and working towards training and supporting over 200 beneficiaries in the coming year. 

With our new online marketing and online training strategy we are actually forecasting that local individuals benefiting from Mastroe could doube or even triple to between 250 – 400 people this number can go up to 600 – 1000  especially if we are able to purchase the software and equipment required to record / animate and host our training programmes online so that new trainees can simply Register and login for FREE to obtain content on mentoring, development, upskilling, work and entrepreneurship. 

Our eventual goal is self sufficiency - to be able to deliver FREE or  AFFORDABLE training, mentoring and upskilling courses running daily. The courses **funded primarily** by income from the Mastroe social enterprise but also other funding avenues as and when they become available. Currently we are only able to run our programmes when grant funding is available. 

In the mean time, Mastroe will continue to work towards upscaling our social enterprise and applying for donations as well as grant funding to be able to meet our yearly obligations and continue to provided Free / Affordable training to our beneficiaries who are usually disadvantaged, marginalised or long term unemployed. 

Our planned programs for the coming year include **Engage (Open day), Aspire, Photography, Print, Web design, Entrepreneurship,  Alpha, Graphic design, illustration, Photoshop, videography** and **programming** as well as our **classes** in **English, Maths, Touch typing** and **I.T** . Mastroe has been able to secure another grant funding from the European Union Social Fund of 19,997 – subject to final confirmations to deliver our community social media marketing course in the coming Financial year - but are still working towards securing grant funding for our **Vocational coursesv** this is for our many trainees that prefer to work with their hands outdoors such as **woodwork, painting etc** rather than working in an office environment – helping with the increase in demand for vocational workers and builders across Bedford. Mastroe is also considering low cost training contracts with schools, key agencies, organizations such as the local council and the Job centre to provide ongoing training, development and practical work bridging activities to their users. 

Going forward, in situations where grant funding is not available, to provide continuity through the year, Mastroe will look to provide some of our training programs on a low cost (Affordable) paid basis. Mastroe will also look to increase regular donations by further showcasing and marketing our work as well as the testimonials that show the physical difference and result that our work is creating within the local community. Mastroe will look to work with local support organizations such as the council and Job centre ensuring that 



## **MASTROE** 

## **TRUSTEES' ANNUAL REPORT (Contd.) FOR THE YEAR ENDED 30 SEPTEMBER 2020** 

individual training support grants are provided for disadvantaged trainees as required. We believe that the combination of FREE as well as Low cost / Affordable programmes will help to provide continuity for our training through all through the Year.  FREE training programmes can be provided when grants become available or at the point where the Mastroe social enterprise activities and local donations are able to cover our primary and training costs. 

## **Social Enterprise** 

Our ultimate goal at Mastroe is to be self sufficient as well as deliver some or all of our training with internally generated funds. The Mastroe social enterprise ran at below 15% of the possible yearly capacity. We have however started to see rewards from optimising our processes for online sales. We are very excited for the coming year for this reason as well as our online social media strategy which would make use of all the creative tools available to us such as video, photo etc. We look to attract shoppers who want to make a purchase at the same time give back by enabling our social enterprise to help develop an individual. 

To be able to run at full efficiency a few key equipment are still required as well as a full time Trainers and full time social enterprise staff. The key equipment that we still require are **Summa Flatbed cutter (Major Priority)** , **UV flatbed printer** , **4 head Tajima embroidery machine** , **An Epson DTG printer.** 

## **Conclusion** 

It is important to mention that Mastroe has been running now as a charitable – community focused social enterprise for over 10 years. Some of the UK statistics show that over 57% of companies founded in 2013 were closed in 5 years. Even though Mastroe is a small charity with a big heart for the community but small resources, we have been able to persevere and overcome obstacles through the years because of the continued support of our trustees, managers, clients, donors, volunteers, funders as well as organisations and individuals within the community. The coming year looks to be exciting and challenging as we look to start rolling out training, upskilling, mentoring and apprenticeship programmes all through the year. We thank you and look forward to your continued support. 

## **Trustees Responsibilities for Financial Statement** 

The Trustees are responsible for preparing the financial statements for the financial period which should give a clear view of the state of affairs of the charity.In preparing these financial statements the Trustees arerequired toselect suitable accounting policies and apply them accordingly - Make judgements and estimates that are reasonable and prudent 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity. 

The Trustees are responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention of fraud and irregularities. 

The Trustees have declared that they have approved the trustees report above. 

Signed On Behalf of the Board of Trustees 

Signed Date **20[th] October 2021** 

Name **Akin Adeniran** Position **Trustee** 



## **MASTROE INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020** 

I report on the accounts of Mastroe, which are set out on pages 5 - 9 

## **Respective responsibilities of the Director and the Examiner** 

It is the responsibility of the trustees(who are also the Directors for Company purpose) to maintain proper books, records and prepare accounts. 

The Trustees(who are also the Directors for Company purpose) consider that an audit is not required for this year (Under Section 144 (2) of the Charities Act 2011 (The 2011 Act) and that an independent examination is required. 

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent 

examination, It is my responsibility to: 

- examine the accounts under Section 145 of the 2011 Act 

- to follow the procedures laid down in this General Directions given by the Charity Commissioner (under Section 145(5)(b) of the 2011 Act; and 

- to state whether particular matters have come to my attention. 

## **Basis of the Independent Examiners report** 

My examination was carried out in accordance with the general direction given by the Charity Commission. An examination includes the review of the accounting records kept by the charity and a comparison of the accounts presented with those records. 

It also includes consideration of any unusual items or disclosures in the accounts and seeking explanation from you as Trustees concerning any such matters. 

The procedures undertaken do not provide all the evidence that would be required in any audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to 

those matters set out in the statements below. 

## **Independent Examiners Statement** 

In connection with my examination, no matter has come to my attention 

1. which gives me reasonable cause to believe that in any material respect the requirements: 

- to keep appropriate accounting records in accordance with section 130 of the 2011 Act; and 

- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act 

have not been met; or 

2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 


## Signed: 

For & On Behalf of: Edward Consulting Limited Fifth Floor Room 12, City Gate House 246- 250 Romford Road London E7 9HZ 



## **MASTROE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2020.** 

|||**2020**|**2019**|
|---|---|---|---|
|**NOTES**||**£**|**£**|
|**Incoming Resources**||||
|Voluntary income|3|32,643|17,380|
|Incoming resources from charitable activities|4|12,893|22,491|
|**Total Incoming Resources**||**45,536**|**39,871**|
|**Resources Expended**||||
|Cost of generating voluntary income|5|4,782|4,271|
|Charitable activities|6|34,866|35,703|
|**Total Resources Expended**||**39,648**|**39,974**|
|**Net Incoming / (Outgoing) Resources**||**5,888**|**(103)**|
|**Total Fund Brought Forward**||**9,069**|**9,172**|
|**Total Fund Carried Forward**||**14,957**|**9,069**|





## **MASTROE BALANCE SHEET AS AT 30 SEPTEMBER 2020** 

|**MASTROE**<br>**BALANCE SHEET**<br>**AS AT 30 SEPTEMBER 2020**||||
|---|---|---|---|
|||**2020**|**2019**|
|**NOTES**||**£**|**£**|
|**Fixed Assets**||||
|Tangible Assets|7<br>|10,965|3,408|
|||**10,965**|**3,408**|
|**Current Assets**||||
|Stock -||||
|Cash at Bank & In Hand|8<br>|23,089|7,367|
|**Creditors: Amount falling due within one year**|9<br>|380|380|
|Net Current Assets/(Liabilities)||||
|**Total Assets less Current Liabilities**||**22,709**|**6,987**|
|**Creditors: Amount falling due after more than one year**||**18,716**|**1,326**|
|**Total Net Assets**||**3,993**|**9,070**|
|**Represented by**||||
|Accumulated Fund|10<br>|**14,958**|**9,069**|



These accounts have been prepared in accordance with the special provisions in part of Companies Act 2006 relating to small Companies and in the Financial Reporting Standard For Smaller Entities (effective April 2008) 

For the year ending 30th September 2016, the company was entitled to exemption from Audit , in accordance with section 475 of the Companies Act 2006 relating to Small companies. 

The members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006. 

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to Accounting records and the preparation of accounts. 

The Financial Statements were approved on behalf of the by the Board of Directors 


## **SIGNED ON BEHALF OF THE BOARD BY :** 

|**Akin Adeniran**|**Trustee**|**20th October 2021**|
|---|---|---|
|Name|Position|Date|



*The notes form part of these financial statements 



## **MASTROE NOTE TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020** 

## **1 Basis of Preparation** 

These accounts have been prepared on the basis of historical cost (except that investments are shown at the market value) in accordance with: 

* Accounting and Reporting by charities - Statement of Recommended Practice (SORP 2005); 

* and with the relevant Accounting Standards. 

## **2 Accounting Policies** 

a Incoming Resources 

iRecognition of Income Resources 

These are included in the Statement of Financial Activities (SoFA) when: the charity becomes entitled to the resources; the trustees are virtually certain they will receive the resources; and the monetary value can be measured with sufficient reliability. 

ii Incoming resources with related expenditure 

where incoming resources have related expenditure (as fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA. 

## iii Grant and donations 

Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources. 

## iv Tax reclaim on donations and gift 

Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate. 

v Contractual income and performance related grants 

This is only included in the SoFA once the related goods or services have been delivered. 

## vi Gifts in kind 

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable. 

## vii Donated Services and facilities 

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. 

viii Volunteer help 

The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report 

ix Investment income 

This is included in the accounts when receivable. 

x Investment gains and losses 

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investment to market value at the end of the year. 



## **MASTROE NOTE TO THE FINANCIAL STATEMENTS (CONT'D) FOR THE YEAR ENDED 30 SEPTEMBER 2020.** 

## b **Expenditure and Liabilities** 

## iLiability recognition 

Liability are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. 

## ii Governance Costs 

Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustee on governance or constitutional matters. 

## iii Grants with performance conditions 

Where the charity gives a grant with conditions for its payments being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified services or output. 

## iv Grants payable without performance conditions 

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. 

## v Support cost 

Support costs include central functions and have been allocated to activities cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capital, staff costs by the time spent and other costs by their usage. 

## c **ASSETS** 

## iTangible fixed assets for use by charity 

These are capitalised if they can be used for more than one year, and cost at least ￡500. They are valued at cost or areasonable value on receipt. 

## ii Investments 

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value. 

iii Stock and work in progress 

These are valued at the lower of cost or market value. 



## **MASTROE** 

## **NOTE TO THE FINANCIAL STATEMENTS (CONT'D) FOR THE YEAR ENDED 30 SEPTEMBER 2020.** 

|**3Voluntary Income**||||
|---|---|---|---|
||**2020**||**2019**|
||**£**||**£**|
|Unrestricted Funds:||||
|Donations|11,998||1,570|
|Gift in Kind :|-||1,700|
|Others|10,645||7,560|
|Restricted funds - Grants|10,000||6,550|
|Total|**32,643**||**17,380**|
|**4Incoming Resources from Charitable Activities**||||
||**2020**|**2019**||
||**£**||**£**|
|Sales|12,893||22,491|
|Total|**12,893**||22,491|
|5**Cost of Generating Voluntary Income**||||
||**2020**||**2019**|
||**£**||**£**|
|Advertising & Promotion|621||234|
|Cost of sales<br>|4,163||4,037|
|-||||
|Total Funds<br>|**4,784**||**4,271**|
|6**Charitable Activities**||||
||**2020**||**2019**|
||**£**||**£**|
|Support costs<br>|34,866||35,703|
||**34,866**||**35,703**|
|**Analysis Support Costs**||||
||**2020**||**2019**|
||**£**||**£**|
|Subscription - Hosting|599||364|
|Telephone|220||212|
|Travel and meeting|616||1,252|
|Insurance|665||585|
|Rent & Rate|6,113||12,550|
|Stationeries|41||72|
|Welfare|535<br>||1,572|
|Utility|2,741||2,734|
|Professional fees|9,467||4,586|
|Office Expenses|||-|
|Bank fee and other charges|630||782|
|Postage|105||-|
|Repairs and Maintenance|459||403|
|Volunteer Expenses|3,692||3,974|





|Other Expenses|4,427|2,609|
|---|---|---|
|Accountancy|500|450|
|Depreciation|4,056|3,551|
|Total|**34,866**|**35,703**|



## **MASTROE NOTE TO THE FINANCIAL STATEMENTS (CONT'D) FOR THE YEAR ENDED 30 SEPTEMBER 2020.** 

**7 Depreciation - Depreciation has been calculated to write down the cost or valuation less estimated residualvalue of all tangible assets over their expected useful lives on a straight line basis.** 

||**Rate**|||
|---|---|---|---|
|Office Equipments|20%|||
|Plant & Machinery|20%|||
|**Fixed Assets**|**Office Equipment Plant & Machinery Total**|||
|Cost or Valuation|**£**|**£**|**£**|
|As at 1st October 2019|29,383|15,377           44,760||
|Additions|11,613|11,613||
|Disposal|||-|
|**As at 30th September 2020**|29,383|26,990           56,373||
|Depreciation|**£**|**£**|**£**|
|As at 1st October 2019|29,383|11,969|41,352|
|Charge for this period|-|4,056|4,056|
|Disposal|-|-|-|
|**As at 30th September 2020**|29,383|16,025|45,408|
|Net Book Value||||
|**As at 30th September 2020**|**-**|10,965|10,965|
|**As at 30th September 2019**|-|3,408|3,408|
|**8 Cash at Bank and in Hand**||||
|||**2020**|**2019**|
|||**£**|**£**|
|Bank||21,389|5,667|
|Debtors||1,700|1,700|
|||**23,089**|**7,367**|
|**9 Creditors Amount Falling due within One year**||||
|||**2020**|**2019**|
|This represents:||**£**|**£**|
|Paypal||-|-|
|Independent Examination||500|450|
|||**500**|450|





## **MASTROE** 

## **NOTE TO THE FINANCIAL STATEMENTS (CONT'D) FOR THE YEAR ENDED 30 SEPTEMBER 2020 10 General Funds** 

|**FOR THE YEAR ENDED 30 SEPTEMBER 2020**<br>**10 General Funds**|||
|---|---|---|
||**2020**|**2019**|
||**£**|**£**|
|Unrestricted Incoming Resources:|||
|Donations|11,998|1,570|
|Gifts in Kind|1,700|-|
|Others|10,645|7,560|
|Sales|12,893|22,291|
|Restricted Incoming Resources: Grants Funds|10,000|6,550|
|Total|45,536|39,871|
|Less Cost of Sale|4,161|4,037|
|Less Outgoing Resources|||
|Subscription - Hosting|599|364|
|Telephone|220|212|
|Transport and Travel|616|1,252|
|Insurance|665|585|
|Rent & Rate|6,113|12,550|
|Stationeries|41|72|
|Welfare|535|1,579|
|Utility|2,741|2,734|
|Professional Fees|9,467|4,586|
|Accountancy|500|450|
|Office Expenses|-|-|
|Bank Fee/Charges|630|782|
|Events|-|-|
|Advertising and Promotions|621|234|
|Postage|105|-|
|Repairs and Maintenance|459|403|
|Volunteer Expenses|3,692|3,974|
|Other Expenses|4,427|2,609|
|Depreciation|4,056|3,551|
|Total|39,648|39,974|
|**GRANTS FUNDS - RESTRICTED**|**10,000**|**6,550**|
|Income Resources:|||
|Surplus/ (Deficit)|**5,888**|**(103)**|