THE MUCKING CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS 31 DECEMBER 2024 Charity Number 1144986 THE MUCKING CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 CONTENTS PAGE Members of the Board and professional advisers Trustees, Annual Report Independent examiner's report to the trustees Statement of financial activitie5 Balance sheet Notes to the unauclited financial statements 10-12 THE MUCKING CHARITABLE TRUST MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS Registered charity's name The Mucking Charitable Trust Charity number 1144986 Principal office Brachers LLP Somerfield House 59 London Road Maidstone Kent ME16 8JH Trustees Brian Martin John Purkiss Malcolm Ward Fraser Massev Brachers Trust Corporation Limited Independent examiner James Francis FCA Ensors Incubator 2 The Boulevard Enterprise Campus Alconbury Weald Huntingdon PE28 4XA Investment advisors Cazenove Capital Management Schroder & Co Limited l London Wall Place London EC2Y SAU Solicitors Brachers LLP Somerfield House 59 London Road Maidstone Kent ME16 8JH THE MUCKING CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The trustee5 presellt their annual report and unaudited financial stotements ol the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting pO1￿cleS set out in note 110 the account5 and comply with the Char￿1V,$ trust deed. the Charities Act 2011 and the Accounting and Reportin8 by Charities.. Statement ol Recommended Practice applicable to charities preparing their aCCDunts in accordance with the Financial Reportlllg Standard 3pplicable in the UK and Republic of Irelanoj published on 16 july 2014. REFERENCE AND ADMINISTRATIVE DETAILS Reference and administrative detail5 are shown in the schedule of mèmbers of the board and profe5510nal advisers on page 3 ol unaudited financial statefflent5. THE TRUSTEE5 The trustee5 who served the charity during the period were as follows.. Brian Martin John Purkiss Malcolm Ward Fraser Massey Brachefs Trust Corporation Lirnited STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document and Constitution The Mucking Chariiable Trust was reg15tered as a Charity with the Charity Commission foi England & Wales on 8 December 2011 Ich3fity no. 11449861. It Is governed by its rrust deed. Governance The charity operates a governance policy. its main provisions being basecl on"Ch3rity Governance Code for Smaller Chariti@s published by the Charity Commission in july 2017. Appointment and Induction of Trustees The role and responsibilities of tfUStees, together with the process ol recrultment and inducrion, are covered in the Governance documenls15ee abovel. A matrix of Trustee5' interests 3nd skills is regularly reviewed. Irbternal Controls The systems of internal control are designed to provide reasonable. bijt not absolute assurance agaillst misstatement and Ioss. They include.. an annual budget approved by the board quarterly reports and reference to a web portal Provided by the Investrnent manager5 annual review ol Investment performance with investment mamagers identificatiorF of and management ol risks On this basis tru5tee5 regularly review and manage risks faced by the charity. THE MUCKING CHARITABLE TRUST TRUSTEES. ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES The object ol the charity is the promotion lor the bene*it ol the public the protection, improvement and maintenance of the environment, primarily but not exclusively through the management and maintenance of the area known as Thurrock Th3meside Nature Park in the unita ry authority ol Thurrock including part ol the restored landfill site at Mucking and any additional13nd that is contiguous with this area. to advance the education of the public In the protection. improvement and maintenance of the environrnent , the principles and pfactice5 of conserving biodiversity. the a(Jvancement ol ecological Quality and thé principles and piactices of sustainable development, primarily but noi exclusively through the management and maintenance ol the Nature Park, in particular, but not exclusively rliiouBh the prDvision of grants. The trustee5 are mindful of the guidance contained in the Charity Comrni5510n'5 general guidance on public benefit when reviewing our aims and objectives and in planning ou'r future activities. The trust aims to distribvte grant5 Qf at least EIOO,000 per annum lor a period 0199 years increasing by up to 2.5% compound per annum, subject to mèrket fluctuations. The ftnancial objective of the trust is to generate sufficient and SLlStainable ieturn on Investments and to maintain capital protection to enable the t(U5t to lulfil it5 grant distributioii target. RESERVES POLICY The Trustees invested the Sum transferred to the Trust at the time ol taking ownership of the endowment in 2011. Since then, as was the case in 2024, the capital fund h35 been managed by Cazenove Capital Managernent. The Trust draws down ¢nvestment income from rhe capital fund tc) covei the rninimal costs ol its operations and grants paid across to the Thame5ide Nature Park Limited ITNPI. The Trustees policy is to ensure that no part of the capital fund is drawn down unnecessarily but should be left as financial reserves in perpetuity. The policy also requires that the total return on the portfolio achieved by the investment managers is, a5 far as possible, sufficient to pay the annual grants and preserve the net present valve of the investment portfolio, which otherwise could be depleted by inflation. ACHIEVEMENTS AND PERFORMANCE The trustee5 are satisfied with the return on the charity's investments, which would have enabled the charity to meet it5 objectives and to provide the taigeted grants during the year to 31 December 2024. The trustees have agreed on a formal investment policy for the charity, a copy of which hès been provided to the investment managers, Cazenove Capital Management. FINANCIAL REVIEW The trustees are satisfied with the financial performance lor the year to 31 December 2024, raking in to account the economic crunch during the period. Grants are distributed accoiding to the requirements of the Thurrock Thameside Nature Park and the performance of the Slock markets, so rnay vary from yea r to year but, under normal circumstances, the tr'ustees will seek to maintain their average ol ar lea51 £IDOk pef annum plus compounded interest. The market value of investment5 held Increased 14Jring the vear by £221.26412023.' Increased by £13,252). THE MUCKING CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The trustee5 are aware that market valLJes cèr+ go down as well as up and the impact that this could have on the ability lo make the t3rgeted distributions in future years. The trustee5 continue lo mèinlain a close watch on the value ol the investments, with the as5IStance ol Cazenove Capital Management, and review the charity's investment policy aCCord￿rig1¥. Twstees receive a quarterly report from Cazenove on the performance of the investments and also have acces5 via a private web portal to the Cazenc>ve datab35e, which enables them to monitor the performance al any point during the year, PLANS FOR FVTURE PERIODS The trustees will continue with the investment policy established with the guidance of Cazenove Capitol Management and are confidènt that this will evable the charity to meet its grant making target5. The trustees have entered into previtsus discussions Wlth the directors of Thameside Nature Park Limlted ITNPI about the Possible transfer ol the balance of the assets owned by the charit¥ at a date in the future. The trustees have taken legal advice concerning thè p055ible transfer throughout the process but in view of the perceived lack of enthusiasm lor the trarlsfei to take place on the part ol the TNP board it was decided to put the question ol any potential mer8er on hold. This item remains on the agenda by the Trustees lor ongoing ionsideration. In conjunctiL)n with the decision to cease negotiation5, the trustees also decided to amend the construct of the tiustee board nd appoint Biachers Trust Corporation Limited as a trustee to act as chair ol the Trust going forward. The new arrangements became effective from I january 202 1. INDEPENDENT EXAMINER james Francis FCA has been re-appointed as independent examiner for the ensuing year. Somerfield House Signed on behalf of the trustees 59 London Road Maidstone Kent ME16 81H C Eriksson-Lee On behalf ol Brachers Trust Corporation Limited Date 23/ 1 {2LJ2) THE MUCKING CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MUCKING CHARITABLE TRUST YEAR ENDED 31 DECEMBER 2024 I report to the trustees on my examination of the accounts of The Mucking Charitable Trust (the Trustl for the year ended 31 December 2024. RESPONS181LITIES AND BASIS OF THE REPORT As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charitie5 Act 20111"the Act"). I report in respect of my examination of the Trusts accounts a5 carried out under section 145 of the Act and in car¥ying out mv examination I have followed all applicable Directions given by the Charity Commission under section 145151 Ibl of the Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. l. accounting record5 were not kept in respect of the Trust as required by section 130 of the Act,. or 2. the accounts do not record with those records,. or 3, the accounts do n(>1 comply with the accounting requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) ReEulations 2008 other than any requirernent that the accotjnts give a 'trve and fair view" which is not a matter Considered as part of an independent examination. I have no concerns Bnd have come across no other matters in connettion with the examination to which attention should be (Irawn in this report in order to enable 3 proper understanding of the accounts to be reached. James Francis FCA Independent Examiner Ensors Incubator 2 The Boulevard Enterprise Campu5 Alconbury Weald Huntingdon PE28 4XA 23141ts THE MUCKING CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2024 Total Funds 2024 Total Funds 2023 Note INCOME Investment income 127 361 129 626 TOTAL INCOME 127 361 129 626 EXPENDITURE Charitable activities Other costs 1143,6461 1140,0041 TOTAL EXPENDITURE 165 956 159 856 NET EXPENDITURE BEFORE GAINS AND LOSSES OF INVESTMENTS 138,5951 130,2301 Net gains on investments 260 454 NET MOVEMENT IN FUNDS 221859 Total funds brought forward 2,955,857 2,945,067 TOTAL FUNDS CARRIED FORWARD 3,177,716 2,955,857 The Statement of Financial Activities includes all gai ns and losses in the year and therefore statement of total recognisecl gains and10sses has not been prepared. All of the a bove amounts relate to continuing activities. The notes on pages 10 to 12 form part of these Unaudited Financial Statements THE MUCKING CHARITABLE TRUST BALANCE SHEET 31 DECEMBER 2024 Note 2024 2023 FIXED ASSETS Investments 3,182.060 2,960,796 CURRENT ASSETS Cash Ot bank CREDITORS.. Amounts falling dLte within one year 14,3441 NET CURRENT LIABILITIES 14,3441 14,9391 TOTALASSETS LESS CURRENT LIABILITIES 3 177 716 2 955 857 NET ASSETS 3,177,7 16 2.955,857 FUNDS Endo¥vment fund5 3 177 716 2 955 857 TOTAL FUNDS 3,177,716 2,955,857 These Unaudited Financial Statements were approved by the members of the board and authorised for 155ue onJhe 231.11 1> and are signod on their behalf by.. C Eriksson-Lee On behalf of Brachers Trust Corporation Limited THE MUCKING CHARITABLE TRUST NOTES TO THE UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of Accourstin8 The financial slaternents have been prepared under the historical cost convention, except for investfnents which are included at market value. The financial sr3tenients have been prepared in accordance with the Statement of Recommended Pr3ctice. Accounting and Reporting by Charities preparing iheir accounts ITr accordance with the Financial Aeporting Standard applicable in the UK and Republic ol Ireland IFRS1021 published on 16 july 2014 an(J the Financial Reporting Standaid applicable ITr the UK and Republic ol Ireland and the ChaTltie5 Act 2aii. The trust con5titute5 3 public benefit entity as defined by FRS 102. The financial statements are prepared in sterling, which is the fill3ncial currency of the charity. Monetary arnOLJnt5 In these financial Statements are rounded to the nearest pound sterling. The financial 5t3teniènts have been prepared on a going concern basis, alter making appropriate enquires, the tru5tee5 have reasonable expectation that the charity has adequate resources to continue in operational existence for the ltsresee3ble ftiture at the time ol approving the financial stotementS. Thus, the Trustees have adopted the going concern basis of accounting in preparing these financial statements. Grants Grants for charitable purposes are recognised on an accTua15 basis, the expenditure being recognised in the period to which it ielaies. Investment5 Investments are stated In the financial statements at their market value at the balance Sheet date, as advised by Cazenove C3Pltal Management. Realised and unrealised gains and10sses on Investments are added or deducted from endowrnent fur)ds. Realised gains and losses in the yeor represent the difference beiween the disposal proceed5 and the market value at the beginfjing ol the year. Expenditure Expenditure is included on an accruals basi5, inclusive ol VAT which cannot be recovered and is allocated to the appropriate heading In the accounts. Charitable activitiès: Expenditiire 10 meet the Cha rity's aiffl$ and objectives. This includes grants to Thameside Nature Park Limited and expendilure ol an indirect nature necessary to support the activity. Related party transactions and iTUS¢ees' expenses and remuneration The trustees all give freely their time and expertise without any form of remuneration or othef benefit in cash or kind. No authoT15ed expenses were paid in the year. io THE MUCKING CHARITABLE TRUST NOTES TO THE UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 2 INVESTMENT INCOME Total Funds 2024 Total Fundg 2023 Income from UK listed investments Bank interest receivable 125,966 1,395 127,362 2,264 127,361 129,626 3 COSTS OF CHARITABLE ACTIVITIE5 BY ACTIVITY TYPE Aclivitles undertaken directly Total Funds lolal Fundg 2023 2024 Activities undertaken directly 143,646 143.646 140,004 During the course ol the year the Charity provided grant funding to Thameside Nature Park Limited 01 £134,44812023.. £131.2101. 4 OTHER cos'rs Total Funds 2024 Total Funds 2023 Leg31 fees Accountancy fees Insurance 18,059 3.870 382 17,895 1,575 382 22,310 19,852 5 STAFF COSTS AND EMOLUMENTS The charity did not employ any staff during the year. No salaries, wages or expenses were paid to the members of the tommiltee, during the year. 6 INVESTMENT5 Movement in market value 2024 2023 Market value at I january 2024 Acquisltions/Disposal at cost Realised gains on disposals 2,960,796 141,9691 2,779 2,947,544 127,7681 Net gains on revaluation5 in the year ended 31 December 260,454 41,020 M3rket value al 31 December 2024 3,182.060 2,960,796 Historical cost al 31 December 2024 2,438,283 2,487,163 li THE MUCKING CHARITABLE TRUST NOTES TO THE UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 6 INVESTMENTS (continutedl Analysis of inve5tment5 at 31 December 2024 between funds Total Funds 2024 Total Funds 2023 Lisled investments UK QLlOted shares Other investments UK cash held as pait of portfolio 3.142,076 2,928, 197 39,984 32,599 3,182,060 2,960,796 7 CREDITORS.. Amounts lalling due wlthln one year 2024 2023 Accrua15 4,344 4.939 Balance at ljanuary 2023 Incoming resources Outgoing Resources Ba13nce at 31 Decembei 2024 ENDOWMENT FUNDS Permanent endowments Enovert Management Limited 2,955,857 387,815 1165,9561 3.177,716 In 2012 the charity recived an endowment from Cory Environment Management Limited (now Renamed Enovert Management Limitedl of £2.8M. The Charity is entitled to benefit from the proceeds of investing this sume, over a period of 99 years. Terms of the endowment are such that al the end of thè 99 year period. the endowment funds will be exhausted. 9 RELATED PARTY TRANSACTIONS There have been no related party transactions during the period. 12