THE MUCKING CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS 31 DECEMBER 2020 Charitv umber 1144986 EN LL Chartered Accountants 2nd. Floor. The PlalinumBuilding St. John's Innovalion Park Cowley Road Cambridge CB4 QDS
THE MUCKING CHARITABLE TRUST UNAUDrrED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 CONTENTS PAGE Members of the Board and professional advisers Trustees, Annual Report Independent 8xaminerfs report to the trustees Statement of financial aclivities Balance sheet Notes to the unaudited financial statements
THE IUcKING CHARITABLE TRUST MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS Regi$tered eharity's name The Mucking Ctoritable Trust Charity number 1144986 Prits¢ip*l offite BracbeT5 Somerfield House 59 London Road Maidstone MEI6 8JH Trustees Shalle Hebb Brian Martin Jolm Purki55 Malcolm IIFard Brdcbers Tn CoryKJrdtioJ Lid Independent euminer James Francis FCA Ensors Accountants LLP Platillum Buildiog Si. John's ItmovatioD Park Coivlev Road Cambridge CB40DS Bankers Barclay5 Bank Leicesier LE87 2BB Investment advisors Cazenov¢ Capiial Managem¢ni Schroder & Co. Limited l London Wall Place London EC2Y5AU Solicitors Brdchers Somerfield House 59 London Road Maidstone ME16 8JH
THE MUCKING CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2020 The trustees present theit annual report and wiaudited financial statements of the chariry for ihe year end¢d 31 DeCebe¥ 2020. The financial staiemeThts have bten prepared ill arcordance with the a¢¢ountingpolicies set out in lloie l io the *counts and comply with the charity's trust deed. the Cbarities Act 2011 and Acrounting aod Rq)0rt1tt8 by Charities.. Statement of Re¢o¥Trmended Practi¢e applicable to charities preparkng their accounts accordance Eth the Financial Reporting Stsndard applicable in the UK and Repubtic ofirelaDd published on 16 July 2014. REFERENCE ADMENISTRATtVE DETAILS Reference and adniiuistratiN'e details are sbown inthe schedule of Euember5 ofthe board and professional 2dviser5 on page l of the unaudiied finan¢ial ststements. THE TRUSTEES Tbc tnstees who served the cbarity during the period were as follows: Gordau Evans Iresiglled 3 1 De¢ember 2020) Cllr Shane Hebb Btian Martin Joljn Purkn"ss Malcolm Ward Brachers Trust Coryyoration Ltd (appointed l January 2021) STRUCTURE. GOVEIL¥AIICE MkNAGEMENr Governing Document and Constitstion The Mucking Charithble Trust was registered as a CFLarity with the Clwity Commtssion for England & Wales on 8 ernber 2011 (C}lty ELO. 1144986). It is governed by its tr1 deed. Goveroance The chanty operates a governancc policy. tts main provi5ion5 bring based OD"Charity Governance Code for Smalltr Charitirs. published by the Charitv Commission in July2017. Appointment and Induction Of Trustees The Tole and responsibilities of trustees, togetb¢r with the prncess of reeNitment and inductio are covered in the Governance docuEnent (e al)ov¢l. A matrix of Tru5tees' interests and skills is regularly reviewed. Immcdiately after the end of the fanCIal year to V4-hich this document refers, on l January 2021, the TnLSte¢s appointed Brdchers Trust Corporation Limit (BTCL) as a Tne. BCTL will act as the chair of the charity going forward. Internal Cotttrols The sysietn5 of illternal Control are designed to provide reasonable, but not absolllte assurance against misstatement and loss. They include: ' an annual budget approv¢d by the bc4rd quart¢rly reports and reference to a web p)rtal provided by tbe investment managers annual review. of investment perfoTmance with investent managers * identificatioll of and uaanagement of risks On thi5 basis trn5tees regularly revtew and matt3ge risks faced by tbe Clwity.
THEMUCKING CHARITABLE TRUST TRUSTEES, ANNUAL REPORT (- YEAR ENDED 31 DECEMBER 2020 OBJECTIVES AI¥D AalVITtES The object of the chaTity: is the promotiort foT the bettefii of the public the protection, irttprov¢m¢ni, and mainten8nc¢ of th¢ enrOnment? primarily butnol cx¢lusively throuJ the maTJagement 8ndmaintenance ofthearva known a5 Thurrock Tbameside Naturc Park in the unitsrv authority of Thurrock kncludtng part of the restored landfdl sitc at Mucking and any additional land that is contiguou5 with this arca * to advance the educalioll of the public in th¢ prot¢ctior4 iMproveE¢t and mainteThance of the envirotunent. the principles and practsces of conscrving bigdÉvetsity. the adi?EeMent of ecological quality and thc PriDciples aEMI prnctices of sustainable dcv¢lopm¢nL primarily bllt not exclusively through the kanagement and maxnt¢nance of the Nature Parl iti particular, but not exclusively ¢hrougb lh¢ prowision of grants The ttusiees are Mindful of the guidance contained in the Chatity Commission's gellernl 8Utdance on public benefit when revkewing our aims and objectives aDd in planning our future a]VIti¢5. The trnst aims to distribul¢ grants of at least £l(X).IXKJ per annum for a peri of 99 years iticreosing by up to 2.50/0 compound per annum. subjed to mazk¢t flucrnations. Th¢ fin8ncial objective of the trust is to generate suffieient and s$talte return on investments and to maintaill capital protection to enable lh¢ tsvst to its grant distribution targei. REsERs POLICY Th¢ Trust¢es invested th¢ sum [r8nsfeed to the Tro5t the time of tskEng owner5hÉp ofth¢ endowment in 2011. Since thaL as w&s ihe case in 2020, the capital fid has been managed by Caz¢nove Capital Managem¢nt. The Tn¢ draws down inY¢5trnent income from the capital fvnd to cover th¢ minimal costs of Its operattons and the gronls paid across to th¢ Thameside Natte Park Limited (TNP). The Trustees policy is to ensur¢ that no part of the capithl fund is drawn do'll unnecessarily but should be left as financial reseryes in pen)cluity. The policy also requircs the total return on the portfolio achieved by the investment managers as far as possible. sufficient tt) pay the annual grants and preserve ihe net present valuc of th¢ investsnent PN0110, whL¢h otherwise Cld be dqyleted by itkfiatiorL ACHtEVEMEiYfs PERFORMANCE The tNsiees are salisfied with the renun on the charlS investments, whicb would have ¢Dabled tlie charity to meet its objectives and to provide the tsrgeied grants during the year to 3 1 Dectmber 2020 had the decision to susp¢nd the paymellt of grants not been taken. The tNstccs have agreed on a formal investment policy for the chariry. a Copy of which has bee provided to the investmeni managets, Cazenove Capitsl ManagernenL FINAf4CIAL REVIE Th¢ iwsiees are satisfied with the financial perfOrne for tbe year to 31 Decemb¢r 2020. where investment incorn¢ And bank interest of £122,834 (year to 31 Decetllber 2019: £E23,292) would have ¢nabla the Chiry to meet its targd for grants had any been paid. The gr2nts pd in 2019 atnounted to £118,876. Grants are distributed ac¢ording to the requTrem¢nts of Thurr<Kk Thameside Nature Park th¢ performance of the stk markcts, so may vary from year to year buL under norn1 cir¢umstsnees, the rtuste¢s will scekio mtititain their average of at least £IOOk per annum. ThemarketV84lue of investments held incre&sed duTing th¢ year by £83.091 (2019: iDcreased by £225,084).
THEMUCKING CHARITABLE TRUST TRUSTEES, ANNUAL REPORT Iconiiwt4J YEAR ENDED 31 DECEMBER 2020 FKNANCIAL REVIEW The trust¢¢s ar¢ aware that market values can go domo as well as up and thc impact that this could have on th¢ abitity to mak¢ lh¢ tsroeled distribution5 in fUlle years. In 2020 tkn"s was evident as a result of the Covid-19 pandemic when the markei value of the chariiy's investments fell by over l 00/0 it3 the space of three days carly in th¢ year io recover by the end of the year to show an increase value in excess of 5 /• for the year. The severe decrease in the value of the charity's investments early on in the year was the main reason b¢hiDd th¢ d¢ci5ion tsk¢n byth¢ trustC¢5 to suspcnd tb¢ payrncnt of grants ro TNP througboui ' the year. Wtth the market value of the investments in freefall it was decided not lo cash in 5om¢ of the investtnents in order to protect the capital b&8e of the investjnents. Th¢ trustees continue io maintsin a close watch OD the valu¢ olthe investm¢nls, with th¢ assistan¢ of Cazcnove Capiial Manag¢ment. and review th¢ Charitys investment policy accoidingly. TNsiees Yeceive a quarterly Teport from Cazenove on ihe perf0mlaCe of the investments andalso have access viaaprivate web portal io the Cazenove datab, wbich enobles them to Monitor th¢ Pormance at any point dun.ng the year. PLANS FOR FUTURE PERtODS Thc irustecs will continue w'ith the iAvestraent policy established with th¢ guidane¢ of Cazenove Capiial Mana8emenl and are conftdent that thi5 will enable the charity to Meet its 8rdnt making targets when they are restored. During the year. the trustees contll¢d their eaAier discu5saons with the directors of ThaElle5ide Nature Park Limsted about the possible ttausfer of the balance of the assets owned by th¢ charity al a date in the near future. The trustees look legal advice concernino ibe possible transfer througboui the process but in view of the perceived lack of enthusiasm for the transfer to take place on the part of the TNP board it was decided to pui the question of any potetltial tE8C[ on hol In conjunction with the decision to cease negotiations. the trustees also decided to ajnend the conslruet of the twstte board and appoint Braehers Tn]st Corporation Limired as a tstee to act as Chair of the Tst goÈn8 forward. The nrnv arrangements became cffective from l January 2021. INDEPENDENT EXAMINER James Francis FCA has been re-appointed as indendeI examiner for the ensuillg year. Somerfield No¢ 59 London Road Maidstone ME16 8JH Sied on bebatf oltbe trusiees C Eriksson.Lee 14May2021
THE MUCIaNG CHARITABLETRUST IW4DEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MUCKING CIIARITABIE TRUST YEAR ENDED 31 DECEMBER 2020 I report to ihe tsvstees on my exatnination of thc accounts of Th¢ Mucking Chan"table Trust (Ihe Trnstl for the year ended 31 December 2020. RESPONSIBILITIES ATr4D BASIS OF REPORT As the Charity trnstees of the Trtl you are responsible forthe preparntion ofthe accounts in aceordanee with the requirements of the Cliariti¢s Act 2011 {'the Act.). l Teport in respect of my examinatioD of the Trnsts accounts as caTried out under seetioTr 145 of the Act and in cttrrying out my examination I have folloThed all applicable DiTe¢tions given by ihe Char¥ty Commission under section 145{5) {b) of the 2011 Acl D4T)EPENDENT EL4MIPiER'S STATEMEwr I have completed my examinatioL I cojjffftn tha¢ no EnatteTS have come to my attention in connertion wttb the examinatlon giving me cause to believe that in any material respecl.. accounting records were not kept in respect of the TTUSt as required by sectiott 130 of the Art- or 2. the accounts do not accord with those records. or the accounts do noi comply witb the accounting requirefftents concerning the form and content of account5 set oui in the Ch8riti¢s (Accounts and Reports) R¢8ulatlOI55 2008 other than any requirement that ihe ac¢ouLts give a "true and fair view. which is not a matter considered a5 part otan independent examinatio I bave no Concerns and have come a¢ross no oiher matters ill connection with the examination to hICh attention should be drawn in this report in order to enable a proper understanding of the accounts to be rea¢hed. Jatne5 FrancÈs FCA IDd¢pendent examiner Ensor5 Accountants LLP Platinum Building St. jol'S Innoation Park Cowlev Road Cambridge CB40DS 14 May2021
THE MUClaNG CHARITABLETRUST STATEMENT OF FINANC ACTIVITIES YEAR ENDED 31 DECEMBER 2020 Totsl Funds 20211 Totai Funds 2019 YCOME Investment ittctsme 123 292 TOTAL INcoTrfE 122 123 EXPEI¥DITURE Charilable acuvities Other costs {9,171) (128.838) TOTAL EXPE[ruRE 433 135 135 NET ffjxPEluRE) INCOME BEFORE GAINS AND LOSSES ON I'ESTME,Yrs iowi {11,843} Net gain5 {10sses} on ini'estments 225 084 NET MOVEMENT tN FtINDS 189 492 213 RECONCILIATION OF FUNDS Total fvnds brougbt forward 2 877 167 TOTAL FUNDS CARRIED FORWARD The Ststement of Financial Activities tnclvdes all gains and losses in the year and therefore a statement of total recogni5ed gains and losses ha5 not be¢n prepared. ALI of the above amounts relate to contiJMtng aciivities. The nole5 OTr pY4gu 8 to 10 form part of these Uvydlt¢d Thn*aci¥l Statewents.
THE MUCKING CHARITABLETRUST BALANCE SHEET 31 DECEMBER 2020 202D 2019 N¢rte FIXED ASSETS Investments 3.270291 3.102.735 CURRENT ASSETS Cash at bank 15.774 21.150 CREDITORS: Amountg falMDg due withiD ojje vear 16 NET CURRENT (LIABILITIES) ASSETS (12.327) TOTAL ASSETS LESS CURRENT LIABILrriES 3 279 900 3 090 408 NET ASSETS FUNDS End0.ettI ndS 79 900 3 090.408 TOTAL FUNDS These Unaudited Financial Statements We approved by the membeEs of the IM)gsd #lld authotised for issueon the 14 Ntsy 2021 alld are sigtied on their bebalf by: C ErÉksson-Lee Chairnian The Dotes on pages 8 to Ill forn of tbese Un#wdited Fan(la1 St2tements.
THE MUCKING CHARfrABLE TRUST IYOTES TO THE UNAUDITED FINANCIAL STATEMENTS YEAR EIII)ED 31 DECEMBER 2020 I. Acco1]4G POLICIES Basis of accovnting The fman¢i21 siatements have been prepared under the bistorical cost conventÈon. except for investments which are itkcludedatmaeI value. The fan¢tal statements have been prepared in accordance with tbe Statement ofRe¢ommended Prn¢tice'. Accounting and Reporting by Charities preparingtheiraccotmtsinaecordatsce withtheFTtYdncialReportingStsndard applscableintheUK andR¢pvblicoflreland(FRS102)publÈshedon 16July2014andtheFinancialReportingStandard appli¢able in the UK and Republic of Ire12nd aDd thecharities Act 2011. The trust constitutes a public benefit entity &8 defined by FRS 102. The fjnancial staiements are prepared in 5terlÈn& wlu.ch is tbe fictional curren¢y of the clthrity. Monetary amounts in these fllwicial 5tatement5 are rounded to the Deare51 pound 5terliELg. At the time of approving the fUnCIal ststemettts tbe Trustees have a reasonable expectation that the Charity has adequate resource5 ¢0 contÈnue in operational existence for the foreseeable future. The Trustees have Collsidered the tmpact of COVID19 and its impact on the charitys forecasts and operational abiltty for a period of 12 raonths from the date of these fitWlCi21 ststements and have d¢¢ided that the suspension of the payment of regular grants to fNP should continue into the coming perio Thus. tbe Trustees have adopted the going cO¢M basis of a¢¢ounttng in preparing these financial atements. Grallts Grdnls for charitable purposes are recogntsed on an accruals basi& tbe expenditure being recognised in tbe period w which it rela*& Invtstments Investneats are stated in the financial statements at their markei value at the balance sheet date, as advised by CazeThove Capital ManagetnenL RealTsed and ua)realised gains and losses on Investments a added or deducted from endowmeThl fullds. Realised gains and losses the year iepresent the differeD¢¢ betweetL the disposal proceeds aDd the JJ]aEket value at the benDing of tbe year. Expenditure Exp¢ndirure is included on an a¢lS basis incbjsive of VAT which cattnot be recovered and is allo¢at¢d to the appropriat¢ h¢ading in the accounts. Charitsble a¢tiviii¢s-. Expenditure to IDeei the Charity's 2iJ)Is and obje¢tives. This xnrludes grnnts to Thameside Nature Park Limsted and expelldttL¢ of indirect nature necessary to support the activity. Related party tratisactiotts and trustees. e4)euses and renauLeration The trustees all give freely theirtitne and expertise without any fotm of rellkuner&tion or otherbellefit in ¢ash or No auth0ri5ed expetEses We paid the year (2019.. £273).
THE MUCKING CHARITABLE TRUST NOTES TO THE uNAUDED FINANCIAL STATEMENTS YEAR EED 31 DECEMBER 2020 STMENf ThCOME Restricted Totsl Funds Fund5 2020 Total Funds 2019 Income from UK listed iDVCStments Bank iDt¢rest i¢¢¢ivable Other Inle$[ receivable 122.134 li 122.134 li 689 122.308 979 122034 122.834 123,292 COSTS OF CHAIUTABLE ACTIVTTIES BY ACTnryfYTYPE Activiti undertaken Totsl Funds Totsl Fund5 directly 2020 2019 Aetivktie5 undertaken directly 9,171 9,171 128,838 During tbe coutse of the year the Charity did not provide grdttt nding io Thameside Nature Park Liinited (2019- £118.876). OTHER COSTS Restricted Total Funds Total Funds Fun(15 2020 2019 Legal fees Aecountattcy fets 6A34 828 6,434 828 5,481 816 7,262 7,262 6.297 5. STAFF COSTS AND EMOLUhlEiYrs The charity did not enkploy any staff during the yvdr. No salaries, wagcs or expenses wer¢ paid to the member5 of the cottee. durino the vear. INVESTMENTS Movement in market value 2020 2019 Market value at l January 2020 Acqu5sition&'lDi5posal) at ¢ost Net gains on revaluations in ihe year ended 31 December 2020 Market value ai 31 December 2020 3,102,735 84,465 83.091 2,908,925 (31,274) 225.084 3.27Q,291 3,102. 735 Historical eost at 3 1 December 2020 2 402 698
THE MUCKING CHAIUTABLE TRUST NOTES TO THEUNAUDITED FJNANCIAL sTATEMEs YEAR ENDED 31 DECEMBER 2020 INVESTM£Ts (eDRIrfRwvd) Anahryis of tnyestments a¢ 31 December 2020 between fnnds Total Fllnds 2020 Total Funds 2019 Listed finvestme)yts UK Quoted Shares Other iDvtstmeDts UK Caskn beld a5 part of Portfolio 3,030220 2.947,129 240,071 155,606 3370.291 3.102,735 CREDITORS: Amounts f8llÉng due within one year 2020 2019 AcmTals . EfyI)OWMEIT FUNDS BlftDe¢ at Balanct At 31 Dectrnber 20211 l JAVrY 202 ID¢omthg Outgolng Pernanettt ettdowments Enovert Management Limited 925 3 279.91HI bk2012 the Chariry received an erkdowment from Cory EnvIrorent8l Managemetsi Limited (now renamed Euovert Management LIted) of £2.gM. The Chariry is en(iiled io benefit fr()m the Evoceeds of investing this SUllL over a period of 99 years. The tenns of the endowment are sucl) that at the end of the 99-year penod the endoxvmcnÉ funds will be exhausted. RELATED PARTY TIL4LSACTIONS There have been no related party transaction5 during tbe period. -io-