Registered Charity Number 1149605 Company Registered Number 07472750 THE MENTOR RING LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
THE MENTOR RING LTD TRUSTEES REPORT FOR THE YEAR ENDED 31ST MARCH 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31" March 2024 OBJECTS OF THE CHARITY The company is governed by a memorandum and articles of association. The principal object of the company continues to be the promotion of charitable work in England and Wales with particular emphasis on the mentoring of individuals. The charity is structured to ensure that the Board of Directors meets regularly to oversee its operations. Our charitable objective is to promote social inclusion for the public benefit by working witli people who are socially excluded on the OundS of their ethnic and cultural background, poverty, geographic isolation and health issues. We would relieve the needs of such people and assist them to inteate into society, in particular by the provision of mentoring, education and training. REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS The Mentor Ring organizes worksliops on meiitoring, arts and crafts, IT classes, gardening, and activities promoting healthy eating. We also facilitate coffee mornings desIed for individuals experiencing isolation and loneliness, along with a diverse range of pliysical activities aimed at enliancing overall well-being in Cardiff and nearby areas. Our overarching ethos and mission aim to eliminate barriers, whether cultural, language-related, physical, mental, or social, to ensure that no individual is excluded froin active participation in aspects ranging from employment to community life. We have been organizing the Minority Ethnic Communities Annual Health Fair in Wales since 2009 iii collaboration with 15 organizations and Cardiff and Vale Health Board and provides a platforn] where communities can interact with voluntary and public sector health and well-being practitioners. Responding to the increased referrals we have received from England, we have taken steps to broaden our iinpact. Our services have recently expanded to England, focusing currently on the London Borough of Bexley and Dartford. This expansion is geared towards duplicating the success of activities and initiatives that have proven effective in Wales. South Asian Heritage Month Celebrations has gained increasing significance and our communities in South Wales , London Borough of Bexley and Kent have been more active in participating in the events celebrating , commemorating and educating the rich cultural and economic contributions of South Asians from the eight countries: India, Pakistan, Bangladesh, Sri Lanka, Nepal, Afghanistan, Bhutan and thc Maldives. The Mentor Ring is one of the 17 organisations in Wales who have achieved the Defence Einployer RecOlt10n Scheme (ERS) Silver Award for 2023. FUTURE DEVELOPMENTS The Board of Directors expect to maintain activity to be monitored based on the current situation of funding. We remain committed to expanding our services beyond South Wales and into England. RISKS POLICY The Board of Directors actively review the major risks that the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with regular reviews over key financial systems will provide sufficient resources in the event of adverse conditions. Thc Board of Directors also examine other operational risks faced by the charity and confinn that systems have been established to mitigate any SI11f1Cant risks.
THE MENTOR RING LTD TRUSTEES REPORT FOR THE YEAR ENDED 31ST IWIARCH 2024 RESULTS The results for the period and the charity's financial position at the end of the period are shown in the attached financial statements. DIRECTORS AND TRUSTEES The Board ol Dii"ectoi"s are also trustees of the charity and there are no othei. trustees. THE TRUSTEES The Trustees who served the charity during the period were as follows: Sean Newton - Chair James Alexis- Treasurer (Resigned 1010712023) Yusuf Rangoonwala - Treasurer Sunil Pulapaka John Gamblin Chetna Sinha- Deputy Treasurei. Rajani Devi Ponnada Joan Simon Jessica Leigh Hooper CHAIRMAN'S REPORT FOR THE IENToR IUNG (TMR) The Mentor Ring (TMR) continues to thrive in a significantly impactful way despite unprecedented challenges of cost of living crisis and political instabilÉty. The 'teain" excel in tlieir collective et"forts to maintain and develop resilient engaging and empowering work streams with loLal and wider, people, communities, and organisations on Wales and wider UK footprint. Supporting Kidney Research UK, Diabetes UK Cymru, Kidney Wales, and Strategic Diabetes Clinical Network initiative around "Peer Educator" program of training and dissemination around Preventing (awareness raising) chronic kidney disease through early diagnosis, (PACTED) in South Asian communities within Cardiff and Newport, TMR has identified and supported a transfom]ational opportunity to work on personal awareness raising and community awareness in known areas of clinical risk. I ivould again like to thank our board of trustees and all members of TMR staff who give theii. time, expertise and support for TMR and the communities that we are honored to serve. People are at the heart of everything TMR strives to undertake and without this incredible support, members of the wider community would be left without a credible and respected organization to amplify their fears, wonies concerns, and frustrations when engaging with the wider health and social care agenda through the effective implementation of mentoring, Sean Newton TMR Chairnian.
THE MENTOR RING LTD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2024 RESPONSIBILITIES OF TRUSTEES The trustees (who are also the directors of The Mentor Ring Ltd for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities SORP; Make judgements and estimates that are reasonable and prudent. State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 1985. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. INDEPENDENT EXAMINER A resolution to appoint Gordon Down & Company Limited as independent examiner for the ensuing year i¥ill be proposed at the Annual Governance Meeting. DECLARATION This report was approved by the board on Signed on behalf of the charity, s trustees Mrs Sujatha Thaladi- Company Secretary
THE MENTOR RING LTD INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE MENTOR RING LTD I report on the accounts of the charity for the year ended 31" March 2024 set out on pages 4 to 9. Respective Responsibilities of Trustees and Examiner The charity's trustees (who are also directors of the company for the purpose of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not requii'ed for this period under section 144(2) of the Charities Act 201 l and that an independent examination is needed. The Charity is required by law to prepare accrued accounts and l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England & Wales. Having satisfied rnyself that the charity is not subject to audit under coinpany law and is eligible for independent examination, it is my responsibility to.. examine the accounts under section 145 of the 201 l Act; to follow th¢ procedures laid down in ihe General Directions given by the Charity Commission (under section 145<5) b ofthe 2011 Act), and. to state whether particular matters have come to my attention. Basis of Independent Examiners Report My examination was carried out in accordance with the General Directions given by the Charity Cominission. An examination includes a 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 explanations from you as trustees concerningany such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently I do not express an audit opinion on whether the accounts present a 'true and fair view,. Independent Examiners Statement In connection with my examination, no Matter has come to my attention.. which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that.. proper accounting records are kept in accordance with section 386 of the Companies Act 2006, and. accounts are prepared which agree with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Slatement of Recommended Practice.. Accounting and Reporting by Charities (revised 2005). or: to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. (2) Signed Date ULF L.S.Cohen FCA Independent ExAminer Gordon Down & Company Aecountants Temple Court 13A Cathedral Road Cardiff CFII 9HA
THE MENTOR RING LTD STATEMENT OF FINANCIAL ACTIVITIES (incorporating the income and expenditure accountl FOR THE YEAR ENDED 31ST MARCH 2024 Unrestricted R8strict8d Total Totsl Note Fund5 Fund$ 2024 2013 Incoming Resource8 Voluntary Income 10,767 51,657 62,424 114,348 Totsl Incomlng Resources 10,767 51,657 62,424 114,348 Resources Expended Governan¢a Costs 690 690 690 Charitable Activities 15,881 83,419 99,300 103.624 Total Resource8 Expended 18,571 83,419 99,990 104,314 N•t loutgolnglllnGomlng resources for the y8ar and nèt Incom91laxpendlturel for the year -5,804 -31,762 -37,566 10,034 Funds brought forward 16,830 56,697 73,527 63,493 Funds carrled forward 11.026 24,935 35,961 73,S27
THE MENTOR RING LTD BALANCE SHEET AS AT 31ST MARCH 2024 Note 2024 2023 Curront Assets Other Debtors Cash at Bank 43,815 80,080 43,815 80,080 Credltors: Amounts falllng du6 wlthin one year 7,854 6.553 Net Current Assets 35.961 73.527 Total Assets less Currant Llabllltl•8 35,961 73.527 Net Assets 35,961 73,527 Funds General Unrestricted Funds 11.026 16,830 Re$lri¢ted Funds 24.93S 56.697 35,961 73,527
THE MENTOR RING LTD BALANCE SHEET (CONTINUED) AS AT 31ST MARCH 2024 The tiustees are satisfied that the company is entitled to exemption from the requirement to obtain an audit linder section 477 of the Companies Act 2006 and that members have not reqiiired the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for coinplying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accoiints. The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies, regime. These financial statements are approved by the trustees on 2g And are signed on their behalf by: Sean Newton TMR Chairman. The notes on pages 7 to I I form an integral part of these financial statements.
THE MENTOR RING LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 l Accounting policies Basis of accounting - The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standards applicable in the UK and Republic of Ireland (as applied to small entities by section l A of the standard). Cash flow statement - The directors have laken advantage of the exemplion in Financial Reporting Standard No. I from including a cashflow slatemenl on the grounds thai the company is small. Incoming resources- All incoming resources are recognised when receivable and when all conditions for receipt have bccn met. No expenditure has been netted off incoming resources in the Statement of Financial Activities. Resources expended - costs of activities in furtherance of the charity's objects represent those costs incurred directly in connection with charitable activities. Management and administration costs comprise costs associated with managing and administering the charity and include an appropriate apportionment of overheads. Funds slruclure - Unrestricted funds are those available for general use by the charity. Designated funds are unrestricted funds which have been set aside by the Trustees t.or specific PULyoses. Restricted funds are those where the donor has imposed restrictions on their use.
THE MENTOR RING LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31ST MARCH 2024 2 Incomlng Rgsources Unrg$trlct•d Restricted Total Total Funds Funds 2024 2023 Voluntary Incoffle Grants and Donations The National lottery Welsh Govemmenl 19,750 19,750 4,000 4,000 AllenLane Foundation T262 4,085 4,085 C3SC 5,000 5,000 5,000 Race Councll Cyrmu - Global Majoity Fundlng Glamorgan Voluntary GVS Granl THE MARY HOMFRAY CHARITABLE TRUST 3,309 5,000 1,500 6,984 1,500 Cardiff Council e,984 2,000 Ma50nic Benovelenl Fund South Wales 1,000 The Nats'onal lottery- Awards For All Wales fJueens-SAHM Poslcode Cornmunity 9,850 24,840 3,0011 Maklng A Dlffergncg Locally UK Glve Locally WCVA- Third Sector Resilience Fund 1,500 48,859 4,996 C3SG . Comic Relief The Foyle Foundation Tho True Colours TCT1924 5,000 3,500 3,500 Mayor ol London- TNL Community fund Hgdlgy FoundalSon The Prfncg ofwales Charitable FundlKCCF 1,450 1,450 1,000 1.000 1,500 1.500 Garfeld Weston Foundation 10,000 10,000 Neighbourly Ltd Glving Cardbff and V810 1,000 1,500 Woodland Trust 750 750 700 Groundwork 500 Race Councll Cymw- Wlndrush Grant Aurav Oisha -50047 2,000 2.000 300 10,000 51.519 64,828 111,045 Othèr Grants and Donatlons Other Dc?nalions 767 138 905 303 767 138 905 303 Total Incomlng Rasources 10.Y87 51.657 85,733 111,348
THE MENTOR RING LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31ST MARCH 2024 3 Re50ur¢•$ Expended Unrg$trlcted Re5tr1cted Total Total Funds Funds 2024 2023 Gov8rnance Costs Professional Fee5 690 690 690 Total Governance Costs 690 690 690 Cost of Charltablo A¢tivitl•s Managemont and Administratlon Costs Stafllng Costs Salarfgs 64,037 84,037 61,022 Penslons 3.809 3,809 4,738 Sessional Staff 2,129 2.129 Travel and SubsSs1on¢ 601 601 601 69,974 70,575 65,760 Premlses Co8tB Rent and hire ol ground Insurance 4,274 4,274 4,486 474 474 469 Tolgphone and Fax 880 880 650 5,628 5,628 5,585 General Admlnlstratlvg Exp8n8os Office Costs and Projecl Costs Software and IT Support Advertising and PR Subscriptions Other professional and consutsncy lees Staff Tralnlng and Welfare 13 12,689 12,682 16,345 447 447 4,291 328 328 1,700 453 453 70 9,188 9,188 4.025 20 9,853 13,445 23,098 26.451 Othgr Exponses Expensed Equipment 609 609 Co$t of Generating Voluntary Income Other Direct Costs 5,220 5,220 Total Cost of ChaTitabl• Actlvlllos 15,881 83,419 99,301 103,625 Total Resources Exp•nded 16571 83419 99,991 104.315 io
THE MENTOR RING LTD NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31ST MARCH 2024 4 Credltorg: Amounts falllng dug wlthln on• y•ar 2024 2023 Accruals 690 690 Pensions 300 300 Pay& 8,863 5,563 7,853 8,553 5 Paym•nts to Trustees No Iruslgo r&cgived any remuneration from the Gharily during the year. 6 Analy81$ of Not A$$•ts B•twoon Funds Not Current A$8trts Total Unrestrlcled Fundg 11,025 11,025 Reslrfcled Funds 24,935 24,935 35,960 35,960 7 Fund 8alanca8 8alan¢as at 3110312023 16,830 Balanc08 Mov•ment ot 3110312024 Unreslricled Funds .5,804 11,026 Reslrieled Funds 56,897 -31,762 24,935 Total Chartly Fund8 73,527 -37,56 35,961