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 I￿UcKING 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 DeCe￿be¥ 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 tr￿1 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 f￿anCIal year to V4-hich this document refers, on l January 2021, the TnLSte¢s appointed Brdchers Trust Corporation Limit￿ (BTCL) as a Tn￿￿e. 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 invest￿ent 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¢ en￿￿rOnment? 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?E￿eMent 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￿$tal￿te return on investments and to maintaill capital protection to enable lh¢ tsvst to its grant distribution targei. REsER￿￿s POLICY Th¢ Trust¢es invested th¢ sum [r8nsfe￿ed to the Tro5t ￿ the time of tskEng owner5hÉp ofth¢ endowment in 2011. Since thaL as w&s ihe case in 2020, the capital fi￿d 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 Natt￿e 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 PN￿0110, whL¢h otherwise C￿ld be dqyleted by itkfiatiorL ACHtEVEMEiYfs PERFORMANCE The tNsiees are salisfied with the renun on the charl￿S 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 perfOrn￿￿e 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 Ch￿iry to meet its targd for grants had any been paid. The gr2nts p￿d in 2019 atnounted to £118,876. Grants are distributed ac¢ording to the requTrem¢nts of Thurr