Charity Registration No: 1152357 Company Registration No:069031Z2 (England and Wales) ThE MUBAN EDUCATIONAL TRUST TRUSTEES. REPORT AND uNAUDED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2023 BCIELYLR• 1Y12r2W23 COMPANIES HOUSE 02
THE MUBAN EDUCATIONAL TRUST LEGAL AND ADMINISTRATION INFORMATION DIRECTORS Weimin He Christer von der Burg Rebecca von dw Burg EIi72beth Reid Frances Wood SECRETARY Ms Haiyao Zheng COMPANY NUMBER 06903122 1152357 PRINCIPAL ADDRESS Unit 5 Ashburton Centre 276 CoTlis Road London SW15 3AY REGISTERED OFFICE Unit 5 Ashburton Centre 276 Cortis Road London SW15 3AY tNDEPENDENT EXAMINERS Goldwins Ltd 75 Maygrove Road West Hamp5tead London NW6 2EG
THE MUBAN EDUCATIONAL TRUST CONTENTS Trustees. Report Independent cxaminer's report Statement of financial activities Balance sheet Notes to the accounts 7-10
THE MUBAN EDUCA TIONAL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MAY 2023 The trustees present their report and accounts for the year to 31 May 2023. The finan¢ial ststem¢nts h4v¢ b¢M pr¢pwed in a¢d4Ce with Ac¢owiting and Reporting by Charities.. Ststement of R¢commended PrJ¢ticc applicable to charili¢s pr¢F>aTing their accounts in accordance with th¢ Financial Reporting St#ndJrd applicabl¢ in the UK and R¢publi¢ of Ireland (FRS102- effective l January 2015- (Ch4Tities SORP FRS 102) and the Companie5 Aci 26. The Seeretry'$ SttemDt The Secretary. Athnini5trator and DiTectOTS have met on two occasions during this reporting pertod. SlguifJcwt events lu tbe Tru5t'$ programme within the reportiDg period: - th¢ Twst has continued the work of its major travelling exhibition LM Xun's Legary." Prinlmaking ¥ Modern China. The exhibition was shown at The Orientsl Museum and the Brunei Gallery. SOAS in the previous year. li was moved to Bath Museum of Asian Art IMEAA) from October 2022 to June 2023 and retitled"Revolu¢ioffj Propogdnd4 Art.. PrintiFU% in Mé)d*rn China" Over 70 prints were exhibited at the MEAA. The ¢xhibition explores artistic tmids. political movements and technical developments in modern Chinese printmaking. The works presented marked several silficant anniversaries in China's modern history. including the May Fourth Movement (1919). the founding of the Chinese Communist Party (1921). and Lu Xun's seminal prinknaking class. whi¢h syinbolised the origin of the Modern Wocxlcut Movement Included in the exhtbition. and for the first tim¢ ever being shown in the UK, were ¢i£ht prints and some blocks from a portfolio of 18 contemporary Chinese prints. commissioned by the MET from 50rn¢ of China's most accomplish¢d young printmakers tod8y. Th¢ prints represent # milesione in the modern revival of the relief print in China and in the developmeni of the nation's ¢ontemporary PTintmakin8 pra¢ti¢¢. - Th¢ Trust 4tt¢ndtd imdon Original PTint Fair (LOPFI at Somerset House 30 March-2 April this year, showc&sing works from both Muban Portfolios. LOPF is the longesl nmning art fair in London, founded in 1985 at the Royal Academy of Arts. comes io Somerset Hou5¢ for its 38th edition. The Fair is a celebration of printhiakin£ in all its fornJ$. spanning six centUTies from the 15th century works of Diirer and his contemporaries to that of emerging ¢ont¢mporary artists. Highlight5 include WOTk by Rembrandt, Picasso. Matiss¢. Ho¢kn¢y. Fffud. Warhol, Rcgo and Emin. Internationally Tenowned print dealers and publish¢rs offer vi$itOTS an oppoJThthity to explore aDd buy works by some of the world's greatest masters, alongside new work by coni¢mporary artisis thavs hot off th¢ Press. It was a great privileg¢ foT the MEr to be part of LOPF. Signifint •chivemeDts performaDce withln the reporting perlod: - the Trnst continues to promote an awareness in the UK of CAmtempor8ry Chinese printmaking. - SI]riCant time and resources were put into organisinB "Revolmlion. Propagand4 Art.. Printmaking in Modern China" at MEAA. li has achieved Ereatpublicity aDdgrtat awareness ofthe subj¢ct matt¢r. A Series on-line and in person le¢ft¢S w¢rE aTranged. These included talks by Mary Ginsberg, ChTiSter von der Burg, David Barker. Frances Wood, Anne Farr¢r and Haiyao Zheng. - significant time and energy were put into preparation and attending the IA)ndon Original Print Fair. As it was the most important print fair in the world. attending the art fair has brought MET international recognition.
THE MUBAN EDUCATIONAL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 Principal activity The company's objects remain to protect. conserve. maintain and develop the Trnst's collection of Chinese woodblock printed sheet prints and books in as many ways as possible and to continue to offer for sale copies ofthe Portfolio (published 2003) to provide income lo enable thoseobjects not&1 above to be realised. Results The end of year overnll rcserves balancc was £426,185 (2022: £492.659). The members of the Board of the Company during the yur were: Haiyao Zheng (Sec) Chn'ster von der Burg Weimin He Rebe¢¢a von der Burg Elizabeth Reid Frances Wc The company 15 limited by guarantee and each member's liability is limited to £10. All members of the company are m¢mber5 of the Board of Management and. for ihe pury)oses of the Companies ACL members of th¢ Board aff deerned to be directors of the company. Reserve5 Policy Thc charity's reserves policy is to create sutricicnt rcservcs to cnable th¢ charity to continue its activities and scrviccs at a meaningful level, should there be a drop in income. As all income is derived from voluntary donations. the trustccs miew this position on a regular basis. Public Benefits The trnstees are aware of the Charity Commission guidance on public benefit reporting as set out in Section 17 Charities Aci 2011. The trustees believe that the charity achieves a public benefit by providing these services as detsiled earlier in this reFX)rt.
THE MUBAN EDUCATIONAL TRiI TRUSTEES. REPORT (COPMNUED) FOR THE YEAR ENDED 31 MAY 2023 St4t¢ment •f trustt¢s' r¢spofj$ibdities Tr th&stees (wkn atE alwdirrcrorsof Thc Muball Educ101 Trust foi tht putposcs ofo)mpaDy l&w}uc re$ponsible forprtpaTin8theTnJstees'ReporilincoTPOrntin8thedittctor5'TEPOrt}4rbJth¢ finlncia13tateThD iDllCCQtdancc witb applicabk w1ndU1te4fj Kd0 a¢c•wJiIn8Stdard5.in(]Uth.DFIDaDCialRtpOrtitis S¢andd 102 The FancItY1 R•xJrtuy applicable rhe UK and RebIle ollre14yid Wftittd Lgdom GetserJly AetsrAul A¢aym1ill8PrnIry). Company law r¢quirtsthetSUScswprepare fttn¢illlsthtem¢otsforex&6nfftcialyearwbichyve?IrueaDd f4irviewof the Slate of aff¥itsof the cbaritsble ts)mpèny the iOMe81¢xP¢ndI(y of the ehi¢able tompany forthar p¢ii(J. ltt pryiti8 fillaDrial stsl¢lll¢OlS. awe ty: 'seltth yjiublc accounttn8 pIici¢5 •od thtsi wlythem ux¥i5kndT." observe th¢ m¢thoth prin¢iptestD the Clwi&¢S SCIRP.. "make JJneD(sNd •¢rounbTh¥ estimates that ar¢ r¢asofi•bk•Nd stsre wlLedKf ppliGHbl¢ UK A¢¢ow•DgStstyJ&dsthave follow¢ uy mawi•ldepurwcs disclostsl aDd ¢Kplitt¢d in the 6nDDEial sweats, 4ThJ th¢ fmallciat si•temMts the 80ing b&sis wk55 it is iDapwtsNi W Prtsum¢ thDt thE haritsble etynpthy will cJJntinue ÈD busiDe Th¢ truses ate respoDsibk for m•i4wbnin8 4¢¢OUts¢ubB records whicb di5cio¥c with re•sooable acCuTY ai any timg the fi)wKial of the ¢hariiabie Y •od enable to en5UTe thai thc financi•l 5Elltcments comply with the Comparlies Act 2(K)6. Thry are 0150 re5ponsiblefor safe8udiog tb¢ assets of th¢ ch¥rir#bk eorupaDy athl heoc¢ for thkill8 rt•SDllabk #¢ps for •od dueclion of atyj other iW"ties. Jtt so far gs wtresaY¢ •war< .th¢r¢ K8 Dtsreternt •udit Ofwli th¢¢h•ritaN¢ ¢ompArLy¥a1iorS attd .th¢trwEeeshaVeTaktnj steps thaLtheyou8biioh#vetsk¢n iom•kc theJJtsefveSw0f loy1¢ytWIl ofwnarion al es¢ablish th¥¢ th¢ audiiotsve awat¢of th•t infvrTnattoo. Th¢ Irt1 art respottsible for th¢ •Dd iol¢8n'ty of th¢ COte alld fIll•M¢i ioforn)iik)n inrluded on the cbarioblecompaD5 L¢8ishtion in thc United ZdOw80veUn8 theprtparatiott and disse4#inaiioo of fvwLc¥I S*TCmthts may diff¢r k8is]•liott in othcr jurisdidion On btlolf of the board of Inth¢s 41fv- Haiyao Zheng
THE MUBAN EDUCATIONAL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MUBAN EDUCATIONAL TRUST I report on the charity tre¢S on my examination of the accounts of the Company for the year ended 31 May 2023. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are Tesponsible for the prepardtion of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.). Having satj5fied myself that ihe accowits of thc Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act.). In earrying out my examination I have followed the DiTections given by the Charlty Commission under section 145{5) (b) of the 2011 ACL Indepexdent examiner's statemenl J have ¢omplet¢d my examination. I confinn that no matters have come to my attention in connection with the examination giving me cause lo believe: accounting Tecords were not kept in respect of the Company as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records. OT 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a malteT considered as part of an independent examination. or 4. the accounts have not been prepared in aOrdanCe with the method5 and principles of the Statcmcnt of Recommended Practice for accounting and reporting by charities applicable to charities Praring their auntS in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I 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 rcached. Anthony Epton BA FCA CTA FCIE Goldwins Chartered ac¢ountants 75 Maygrove Road West Hampstead London NW6 2EG
THE MUBAN EDUCATIONAL TRUST STATEMENT OF FINANCIAL AcrtvmES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY ZOZ3 Nole 2023 2022 Unrtstritted Unrestricted FuAd$ Funds Intome'from Donations Charitsble activities Rental income 3.688 29.979 7.671 5.322 34.647 Total Income 41.338 39.969 enditure on Raising funds Charitsbl¢ activities 125.048 133.155 Totsl expenditsre 125,048 133.155 Net (expenditurey income for the year before net GaiBsI{losses} on investmeDts (83,710) (93,186) Net (10sses)/ gains on investments 17.636 37.679 Net (¢xpendi¢urey incom¢ for Ibe yeaT (66.074) {55.507) Total funds brought forward 492.659 548.166 Tot21 fund$ ¢arri¢d fornrd 426.585 492.659 The stalement of financial activities also complies with the rquirements for an income and expenditure account under the Companies Act 2006.
THE MUBAN EDUCATIONAL TRUST BALANCE SHEET AS AT31 MAY 2023 2•23 21122 Flxed Assets TaThgible &8s¢ 390,666 483.030 39).666 483,030 Currtxt Assets C¥h * bank aod in Iw 35.919 35.919 9,629 9.629 Credfjtors: f•lllng dut llhl# Net ¢Vr¢t •5sets .35.919 TrAal assets It¥ c•rremt liabliilio 426.585 492.659 Inwme funds UNes¢ridcd Funds 426J85 492.659 426,585 492.659 The company iseniiiled to1¢¢MptI0ll fromtheatiditrtquirem¢Dicontasned in 5ectioD477of Ihe Comp8niesAci 2006. fortheyeatendtd31 May 2023. Nomemberofthe compaDy has dep051ted a DotiK pursuani w 5eciio# 476. w¥irin8ao 8udÈl of accounts. The directors xknowlcdge ibeir respthtsibilities for ehsuring thc compaDy keep5 4ccountin8 r¢¢ords which MplyW1thSection 386of the Acrandpreparingateounts whk¢h giv¢ty truthr fayr , view ofihe stale of aff3its of the company at 31 May 2023 and of lis result for th¢ ¢lld in 'a¢¢ordanct wlth 5ec¢ion 394 and395.8ThJoth¢rwi5e¢thhplywith thEireMentsoftt Attrelating 10 atcounts, so far as applicable to the company. IHvebeeoprrpa¥¢Cwlth th¢sFcial pmvisioos rtts¢ingw withiTh Part 15 of the CompJDics Act 2. Th¢ ¥¢outsts W¢[¢ approN%d by the Board .. ..... 2EJ&tk FIAiy*o Zheng S¢¢rot¥ry C•mpaayRegistra¢ioD No: 06903121
THE MUBAN EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR EIYDED 31 MAY 2023 a) Basls of proparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to charities preparing their accounts I accordance with the Finan¢i31 Reporting Standard applicable in the UK and Republic of IrelaDd (FRS 102 - effective I January 2015) - (Charities SORP FRS 102) aod the Companies Act 2006. The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recogniscd at historical cost or transaction valu¢ unless otherwise stated in th¢ relevant accounting policy OT no. b) Re¢¢)nclllatlon Ttth pvevlousty Generally Accepted AccountSng Pract1 (GAAP) In preparing the accounts, th¢ trustees have considered wh¢th¢r in applying the aonting policies required by FRS 102 and the ChaTities SORP FRS 102 a restatement of comparative items was required. cl Golng con¢ern The trust¢es consider that the are no material un¢vlainti¢s about the charilable company's ability to continue as a going concern. The trustees do not nsider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of ¢ausing a mat¢rial adjuslm¢nt trj the rying amounts of assets and liabilities within the next reFK)rting peri(Ml. d) Incom Income is recognised when the charity has entitlement to the fvnds. any perfornianc¢ conditions attached to the income have been meL it is PTobable that the income will Ix received and that the amount can be me&sur¢d reliably. Fund xcountlng UnT¢stricted fund5 are available to 5peDd QD a¢tivitie5 that furth¢r any of th¢ puryx)ses of charity. Exp•ndlture and irr•cov•rnbl¢ VAT Exp¢ndityre is recognised once th is a legal OT consttwctive obligation to make 8 payment to a third party, it is probable that settlement will be required and the amowit of th¢ obligation Can b¢ m¢asured reliably. Expenditure is classified under the following activity headings.. Expendifvre on charitable %tiviti¢s includes the sts of activities undertaken to further thie purposes of the charity and their associated support costs. g) Cash al bank and In h•nd Cash at bank and cash in hand includes cash and short terni highly liquid investments with a short maturity of three months or less frorn the dat¢ of acquisition or opening of the deposit or similar account.
THE MUBAN EDUCATIONAL TRU NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 Analyses of eipenditsre 2023 2022 Cost of Raising Funds Charitable *etivities Professional S¢TViC¢S Artists Rent and rates Project costs Security costs Books and print outs Repairs Marketing Travelling Postsge Telephone and internet Sundry Ind¢pend¢nt examination Bank charges D¢pre¢iation 51.894 4,167 29,625 9.341 996 19.350 1.382 896 1.256 3.157 .539 35,994 34,784 11.872 24,867 716 16.512 1.133 1.283 1.158 1.514 930 634 1,134 144 480 1,200 85 125.048 133.155 Total expenditur¢ 125.048 133.155 Computer Equipment Cost At l June 2022 Additions 1.412 At 31 May 2023 1.412 Depreciation At l June 2022 Charge for th¢ year 1,412 At 31 Miy 2023 .412 Nel book value At 31 May 2023 Ai 31 May 2022
THE MUBAN EDUCATIONAL TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023 IMv¢stments 2023 2022 Inv¢stmeots at f•tr v•lut: Ltsted Investment n8 390,666 483.030 390.666 483,030 Movement.. Market valu¢ at th¢ start of the yeJr Additions at ¢ost Disposals at carrying value Net 80inl(loss) on revaluation 483.030 515,351 (I i 0,000) 17.636 (70.000} 37.679 Markd value at th¢ ¢Dd of the year 390,666 483,030 Creditors: amounts falling due within One year 2023 2022 Accruals Analysls of net assets between fvnds General Designated Restricted Totsl Fixed assets Net current assets Net assets at the end of the year 390,666 390,666 35.919 39.519 426.585 426.S85
THE MUBAN EDUCATIONAL TRUST NOTES TO THE ACCOUNTS (coNfINUED) FOR THE YEAR ENDED 31 MAY 2023 StatT costs and key management personnel There were no employees in the year (2022: none). There wer¢ no employee benefits paynents to key management personnel in the year (2022.. Nxl). Emoluments of lh¢ trust¢es Trustees did not receive remuneration during the year (2022: Nil). The trustees were not reimbursed for expenses during the year (2022.. Nil). Related party tr4DsactioDs There were no related paty transactions in the year. io-