——————————————
—
:
|
Handelsbanken|
Wealth & Asset Management
|
THE MAHORO CHARITABLE TRUST REPORT AND ACCOUNTS YEAR ENDED5 April 2025
_
Version 15/04/25
a7
—
1
THE MAHORO CHARITABLE TRUST
INDEX
Year ended 5 April 2025
| Page | |
|---|---|
| General information | 2 |
| Report ofthe trustees | 3-4 |
| Statement oftrustees’ responsibilities | 5 |
| Statement offinancial activities | 6 |
| Balance sheet | 7 |
| Independent examiner's report | 8 |
| Accounting policies | 9-10 |
| Notestothefinancialstatements | 11-13 |
==> picture [2 x 13] intentionally omitted <==
----- Start of picture text -----
|
----- End of picture text -----
|
} | |
THE MAHORO CHARITABLE TRUST
GENERAL INFORMATION
Year ended 5 April 2025
LL LLL LLC Trustees Mr Stephen Luke Ellis Mrs Jenny Louise Ellis Miss Holly Jane Ellis Mr Rory Daniel Ellis Address Flat 25 Sir John Lyon House 8 High Timber Street London EC4V 3PA Accountant Handelsbanken Wealth & Asset Management 77 Mount Ephraim Tunbridge Wells Kent TN4 8BS Registered charity number 1151200
|
Z
fl
THE MAHORO CHARITABLE TRUST
REPORT OF THE TRUSTEES
Year ended 5 April 2025
The trustees present their report with the financial statements of the charity for the year to 5 April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Object and activities for the public benefit
The object of the charity, under the terms of the trust deed;
- For such other charitable purposes for the public benefit, as the trustees in their absolute discretion think fit. ° The trustees must use the income and may use the capital of the Charity in promoting the Objects but no part of the property or funds of the Charity may be used for the benefit of the Settlor or any spouse or civil partner of the Settlor.
The trustees confirm that they referred to the guidance contained in the Charity Commission's general guidance on the public benefit when reviewing the trust's aims and objectives and in planning future activities and setting grant making policy for the year.
Financial Review
Unrestricted funds
There were incoming resources for the year of £28,927. Grants of £350,000 were made and support costs amounted to £2,707. There were incoming resources in the previous year of £12,523. Grants of £282,000 were made and there were support costs of £2,160.
Expendable endowment
Expendable endowment stood at £933,987 (2023/24: £1,030,966) at the balance sheet date.
Principal funding source
The principal funding source comprises gifts from the trustees of the charity and from investment income.
Investment policy and objectives _ The trustees have agreed a low risk profile.
Reserves policy
The trustees are satisfied with the current level of reserves.
3
] - a
a
= —=
’
|
THE MAHORO CHARITABLE TRUST
REPORT OF THE TRUSTEES
Year ended 5 April 2025
se
SS SS Sf
—————————————
Structure, governance and management
Constitution
The charity was founded by Mr Stephen Luke Ellis, Mrs Jenny Louise Ellis and Miss Holly Jane Ellis by a trust deed dated 5 March 2013 and is a registered charity, Number 1151200.
Trustees
New trustees may be appointed by the existing trustees by virtue of a power contained within the trust deed. The trust deed provides for a minimum of three trustees.
Governing document
The charity is controlled by it's governing document, a deed of trust, and constitutes an unincorporated charity.
Recruitment and appointment of new trustee
New trustees may be appointed by the existing trustees by virtue of a power contained within the trust deed. A minimum of three trustees is required by the trust deed.
Organisation structure
The trustees must hold at least two ordinary meetings each year. At those meetings, the trustees agree broad strategy and activity for the trust, including consideration of grant making, investments and reserves.
induction and training of new trustees
On appointment, new trustees must expressly acknowledge his or her acceptance of office of trustee of the charity. In selecting new trustees, the trustees must have regard to the skills, knowledge and experience needed for effective administration of the charity. New trustees are provided with a copy of the trust deed and a copy of the charity's latest report and accounts.
Risk management
The trustees have assessed the risks to which the charity might be exposed and consider them to be minimal. The Trustees have addressed such risks that exist. , wae Approved by order of the of trustees or PAIS] 2S. a signed on it's behalf
==> picture [131 x 42] intentionally omitted <==
----- Start of picture text -----
ce
Mrs Jenny interrater
----- End of picture text -----
4
—_
4
THE MAHORO CHARITABLE TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Year ended 5 April 2025
Trustees' responsibilities in relation to the financial statements
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to:
-
° select suitable accounting policies and then apply them consistently;
-
e observe the methods and principles of the Charities SORP 2019 (FRS 102); :
-
° make judgements and accounting estimates that are reasonable and prudent;
-
e state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
-
e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. __ _ Approved by order of the trusteesa OSive signed on it's behalf by:
Mrsgale...
5
||
THE MAHORO CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
Year ended 5 April 2025
| Year ended 5 April 2025 | Year ended 5 April 2025 | Year ended 5 April 2025 | Year ended 5 April 2025 | Year ended 5 April 2025 | Year ended 5 April 2025 |
|---|---|---|---|---|---|
| el | |||||
| Unrestricted | Expendable | Total | Total | ||
| Income | endowment | this year | last year | ||
| Note | Fund | Fund | 2025 | 2024 | |
| £ | £ | £ | £ | ||
| Income resources | |||||
| Voluntary Income | |||||
| Donations | 2,160 | - | 2,160 | - | |
| Tax refund due on gift aid | - | - | - | - | |
| Investment income | Al | 26,767 | - | 26,767 | Zie23 |
| Total incoming recourses | 28,927 | - | 28,927 | 12..O23) | |
| Resources expended | |||||
| Cost ofgenerating funds | |||||
| Investment management costs | |||||
| Charitable activities | |||||
| Grants made | 2 | 350,000 | 350,000 | 282,000 | |
| Governance cost | 3 | ||||
| Audit/independent examination fees | - | - | - | ||
| Trust accounting/Annual report/Annual return | 2,707 | 2,707 | 2,160 | ||
| Tax return and claims preparation | - | - | - | ||
| Total resources expended | 352,707 | - | 352,707 | 284,160 | |
| Net incoming/(outgoing) resources | (323,780) | - | (323,780) | (2716317) | |
| before transfers | |||||
| Gross transfers between funds | 96,979 (226,801) |
(96,979) (96,979) |
(323,780) | (271,637) | |
| Net income/(outgoing) resources before | |||||
| other recognised gains and losses | |||||
| Other recognised gains and losses | |||||
| (Losses)/gains on investment assets | - | - | |||
| Net movements in funds | (226,801) | (96,979) | (323,780) | (271,637) | |
| Fund balance brought forward at 6 April 2024 | 226,801 | 1,030,966 | 1,257,767 | 1,529,404 | |
| Fundbalanceat5April2025 | - | 933,987 | 933,987 | 1,257,767 |
==> picture [1 x 3] intentionally omitted <==
----- Start of picture text -----
|
----- End of picture text -----
==> picture [2 x 8] intentionally omitted <==
----- Start of picture text -----
|
----- End of picture text -----
6
——————
O————
—
——————_———
THE MAHORO CHARITABLE TRUST
BALANCE SHEET
Year ended 5 April 2025
==> picture [436 x 364] intentionally omitted <==
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Total|Total|
|Note|this|year|last|year|
|2025|2024|
|Fixed|assets|
|Investment|at|market|value|4|-|-|
|Current|assets|
|Debtors|5|-|-|
|Cash|at|bank|936,694|1,259,927|
|Creditors:|amounts|falling|due|within|one|year|6|(2,707)|‘|(2,160)|
|Net|current|assets|933,987|consf Oe|
|Total|assets|less|current|liabilities|933,987|1,257,767|
|Funds|
|Expendable|endowment|fund|(page|6)|933,987|1,030,966|
|Unrestricted|income|fund|(page|6)|-|226,801|
|933,987|1,257,767|
|||
|Approved by order of the trustees Gt|wie|1S|cree signed on its behalf by:|
----- End of picture text -----
Mrs Jenyly LoyieeEllis - Trustee
7
2
7
THE MAHORO CHARITABLE TRUST
Independent Examiner's Report to the Trustees of The Mahoro Charitable Trust - Charity Number:
4151200
Year ended 5 April 2025
DN
| report on the accounts of the trust for the year ended 5 April 2025
Respective responsibilities of the trustees and examiner
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirement of the charities Act 2011 (‘the Act’)
| report in respect of my examination of the trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed all the applicable Directions give by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
| am qualified to undertake the examination by being a qualified member of the Association of Accounting Technicians.
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
e the accounting records were not kept in accordance with section 130 of the Charites Act; or
-
the accounts did not accord with the accounting records; or
-
e the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other that any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
==> picture [135 x 12] intentionally omitted <==
----- Start of picture text -----
Name: Sch deere dee Pore
----- End of picture text -----
Date:
Karen Whiley
Relevant professional qualification or body: FMAAT
Address: 5 Ashdown Chase Nutley East Sussex TN22 3LY
8
—
—_—
=
THE MAHORO CHARITABLE TRUST
ACOUNTING POLICIES Year ended 5 April 2025 aa LL
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011. The financial statements have been prepared on a going concern basis and under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Going Concern
There are no material uncertainties about the charity's ability to continue.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activates on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
The expendable endowment fund has been invested to primarily produce income although the trustees may use the fund for charitable purposes if required.
Restricted funds can only be used for a particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Foreign Currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
9
THE MAHORO CHARITABLE TRUST
ACOUNTING POLICIES
Year ended 5 April 2025
Investments investments are shown at market value at the balance sheet date. All gains or losses on the revaluation or on disposal are included in the Statement of Financial Activities
Investment income is recognised as receivable.
10
THE MAHORO CHARITABLE TRUST
NOTES TO THE FINANCIAL STAEMENTS
Year ended 5 April 2025
| 2025 £ 1 Investment income Handelsbanken interest 26,767 26,767 2 Grants made Greenhouse 100,000 FareShare 50,000 Demelza House 15,000 School Home Support 75,000 St Wilfreds Hospice 25,000 Aspire Oxfordshire Community 5,000 Caxton Youth Organisation 30,000 Justlife Foundation 10,000 Adult Literacy Trust 10,000 Step by Step Partnership 10,000 Barons Court Project 10,000 Porchlight 10,000 Ambitius about Autism - West London Zone - Right Track Scotland Ltd - The Clockwork Tower Foundation - Disablity Huntingdonshire - Time out Group - Wintercomfort for the Homeless - True Venture Foundation - Tom's Trust - Air Ambulance Charity Kent - West London Zone - 350,000 3 Governance fees Accountancy fees (Handelsbanken) to 5/4/25 1512 Charity Commission annual return and report (Handelsbanken) to 5/4/25 720 Independent examination fee 475 Accountancy fees (Handelsbanken) to 5/4/24 Charity Commission annual return and report (Handelsbanken) to 5/4/24 2,707 |
2024 £ 12,523 |
|---|---|
| 12,523 | |
| - 75,000 - - 30,000 - - 10,000 - - 5,000 25,000 6,000 20,000 3,000 3,000 10,000 5,000 15,000 30,000 45,000 |
|
| 282,000 | |
| 1,440 720 |
|
| 2,160 |
11
——— _ Se =
——
|
|
|
THE MAHORO CHARITABLE TRUST
NOTES TO THE FINANCIAL STAEMENTS
Year ended 5 April 2025
| Year ended 5 April 2025 | Year ended 5 April 2025 | Year ended 5 April 2025 | |||
|---|---|---|---|---|---|
| SSS SSS SSS SSS |
|||||
| 2025 | 2024 | ||||
| £ | 5 | ||||
| 4 Fixed asset investments | |||||
| Market value | |||||
| Carry (market) value at beginning ofyear | |||||
| Add Additions at cost | - | - | |||
| Less disposals at carry value | |||||
| Add/(deduct) net gain/(loss) on revaluation | - | - | |||
| Carry (market) value at end ofyear | - | - | |||
| Analysis of Investment | |||||
| Mkt Value | Mkt Value | ||||
| at year end | at year end | ||||
| Fixed Assets | |||||
| Not applicabie | - | - | |||
| Total | = | - | |||
| Analysis ofFunds | At | Income | Expenditure | Gains/losses | At |
| 06-Apr-24 £ |
£ | iS | & transfers £ |
05-Apr-25 iS |
|
| Expendable endowmentfunds | 1,030,966 | - | - | (96,979) | 933,987 |
| Unrestricted funds | 226,801 | 28,927 | (352,707) | 96,979 | - |
| 1,257,767 | 28,927 | (352,707) | - | 933,987 | |
| At | Income | Expenditure | Gains/losses | At | |
| 06-Apr-23 | £ | a | & transfers £ |
05-Apr-24 | |
| Expendable endowmentfunds Unrestricted funds |
1,030,966 498,438 |
- 12,523 |
. (284,160) |
- - |
1,030,966 226,801 |
| 1,529,404 | 12,523 | (284,160) | E | 1,257,767 |
Unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general charitable objectives.
Expendable endowment funds are primarily available for investment to produce income but may be used to fund charitable purposes.
12
THE MAHORO CHARITABLE TRUST
NOTES TO THE FINANCIAL STAEMENTS
Year ended 5 April 2025
| a L$ $a ie |
a L$ $a ie |
a L$ $a ie |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| 5 Debtors | ||
| HMRC Gift aid tax refund | = | - |
| 6 Creditors: amount falling due within one year | ||
| Accountancy fees (Handelsbanken) to 5/4/25 | { oz | |
| Charity Commission annual return and report (Handelsbanken) to 5/4/25 | 720 | |
| Independent examination fee | 475 | |
| Accountancy fees (Handelsbanken) fo 5/4/24 | 1,440 | |
| Charity Commission annual return and report (Handelsbanken) to 5/4/24 | 720 | |
| aor | 160 |
7 Related Party Disclosures
The trust receive a payment of £2,160 form Mr Stepten Luke Ellis covering the trustees' accounting fees for the financial period to 5 April 2024. (2023/24 £nil)
8 Staff costs and Trustees’ Remuneration and Benefits There were no employees of the charity during the year. The trustees received no remuneration and were not reimbursed for any of the expenses in the year.
13