Charity Registration No: IIS2357 Company Registration No:06903122 (England and WAles) THE IUBAN EDUCATIONAL TRUST ' TRUSTEES, REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2024 •DcJM 2710912024 COMPANIES HOLL%E A37
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THE MUBAN EDUCATIONAL TRUST LEGAL AND ADMINISTRATION INFORMATION DlliEcfoRS Weimin He Christer von der Burg Rebecca von der Burg Elizabeth Reid Fran Wood SECRETARY Ms Haiyao Zheng COMPANY NUMBER 06903122 1152357 PRINCIPAL ADDRESS Unit 5 AshbuTton Centre 276 Cortis Road London SW15 3AY REGISTERED OFFICE Unit 5 Ashburton Centre 276 Cortis Road London SW15 3AY TNDEPENDENT EXAMtNERS Goldwins Ltd 75 Maygrove Road West Hampstead London NW6 2EG
THE MUBAN EDUCATIONAL TRUST CONTENTS TNstees' Report Independent ¢xamin¢r's report Statement of financial activities Balance sheet Notes to the aOunts 7-10
THE MUBAN EDUCATIONAL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MAY 2024 The trnste¢s prtsent th¢iT report and accounts for the year to 31 May 2024. The financtal stai¢m¢nt5 hav¢ been prepaTed in accordance with Accounting and RqJortin8 by Charities: Stst¢rn¢nt of Recommended Pra¢tice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of ITeland (FRS102- effective l January 2015- (Chariti&s SORP FRS 102) and the Companies A¢t 2006. The Secretary's Statement The Secretary. Administrator and Directors have met on two occasioDS during this reporting period. SIgnifall¢ events in the Trnst's programme wi¢hiu the reporfing period: The Sth Muban PrlntmakitiE Award. 172 young Chinese artists from many parts of China applted for theAwaTd. Each artistsubmitted a selection of digilal images from their current WO from which 28 artists were $hortlist¢d. Th¢ $hortlist¢d artists were requested to send three original prints to MET'S London oifice. A p#ri¢l of judges m¢t on 30 January 2024 to view all th¢prints and to vot¢ forth¢ final winners. Th¢ WiTLnerofthe First Pri2e was Fu Xinghan: the Second Priz¢ winners were Ding K¢ and Du Jianguo with Thd Priz¢s awarded to Shi Ziyuan. Xu Hanxiao and Zhan8 Qian. Fresh: ATt F*lr. The Tntst attended the Fresh.. Art Fair #t Royal As¢ot Rxcecourse between the 22nd - 24th September 2023. Fresh.. Art Fair was ¢r¢ated in 2017 and is one of the leading art fairs to showcase all types of art practtce. Around 50 luding galleries attended the Fair. the many Works shown included Original prints, paintings. s¢ulpture. glassw8r¢ 8nd ceramics. The 39th IA)ndon Orlglnal PrAnt Falr. TheTrust attended the 39th London OrTginal Print Fair [lPF) at Sommet House between the 24-31 March 2024, exhibiting works from both Muban Portfolios as well as new works from th¢ 5th Muban PTintmaking Award. LOPF is the longest Djnning art faiT in London. founded in 1985 ai th¢ Royal Acad¢my of Art5. later moving to Somerset House. The Fair 15 a lebratiOn of printhiaking in all its forms, spanning six CentileS from the 15th century works of Dur¢r and his contemporaries to that of ¢m¢rging contemporary artists. Highlights in¢luded work by Rembrandt. Picasso. Matisse. Hockney. Freud, Warhol. Rego and Emij). Internationally renowned print d¢al¢rs and publishers off¢r visitor5 the opportunity to ¢xploTe and buy works by some of th¢ world's greatest mastth4 along$id¢ n¢w work by ¢ont¢mporary artists that's hot off the pr¢$5. This is th¢ se¢ond ye4r that MET bas attended the f4tr. Significant aehievemettts and performanee within the reportin£ period: The Trust continues to Promote ¥n infornied awaTen¢ss of eontempk)Tary Chinese printmaking in th¢ UK si ificant time and resour¢¢s W¢T¢ ex nd¢d or anisin the 5th Muban Printrnaktn Award. The award attracted eat ublici and drew a ter awarencss of ih¢ ub-ect matt¢r both in the UK and in China. It has also rovid¢d at encour ement to oun Chinese artists b reco isin their achiev¢ment5. both art fairs have introduced MET to a mucb bmad¢r audi¢nc¢, art lovers and coll¢¢tors. As LOPF 1$ the mosi important PriTbt f4ir in the WOTI(L our allendgnce brought MET international recognition.
THE MUBAN EDUCATIONAL TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Principal activity The company's objects remain to protecL conserve. maintain and develop th¢ TTUSt's collection of Chinese woodblock printed sheet prints and books in as many ways &8 possible and to continue to offer for Sale copies of the Portfolio (published 2003) to provide incometoenable those objects noted above to be realised. Results The end of year ovcrall rcservcs balance was £392.427 (2023.. £426.585). The mernbcrs of the Board of th¢ Company during the year were: Haiyao Zheng (Sec) Christer von der Burg Weimin He Rebecca von der Burg EIi7Abeth Reid Frances Wood The company is limited by guarantee and each member's liability is limited to £10. All members of the company are members of the Board of MaDag¢m¢nt and. for the pury)oses of the Companies Act, members of the Board are deemed to be diTectors of the company. Reserves Policy The charity's reserves policy is to Create sufficient reserves to enable the charity to continue its activities and services at a rneaningful levcl. should there be a drop in income. As all income is derived from voluntary donations. the trnstees review this position on a regular basis. Publi¢ Benefits The truslccs are aware of the Charity Commission guidance on publi¢ benefit r¢porting as sct out in Section 17 Charities Art 2011. The trustees believe that the charity achieves a public benefit by providing these services as delailed earlier in this reporL
THE MUBAN EDUCATIONAL TRVST TRUSTEES. REPORT (COThNUED) FOR THE YEAR ENDED 31 MAY 2024 Ststemety¢ of trns¢ea' TfSPOn5ibililies Tr uustrt$ (who trt alsodiytts of The Muton EdtIOnal Tn for the purposes of company law) are rr4x)AsibleforpreparingtheTnJ51ec<Rwl(inwYpoTatin8thedirerlors' reWr)andthefinariaIthlemtnIS lna¢¢OrdaWIlhapp11¢ab]e l•w•nd unli KingdomAr£M¢ngStwklard& iluding Financial R¢wrting Stsndud 102 The Finortiol RepMin8 ¢wlicgNe in UK R¢pubb'c of Irel¢7 {Uniied Kingdom GeneTr]ly A(£%pted Acwuniing Praril). Companylawwulsthttrtresrwrnal sthwnentsforuth fir0jaIrwblchgiveatrueaTrj fairviewof thestale of affyi ofih¢rhorityble wmpny and of the irKome¥nd cxsndiiure ofth¢¢h#ritible ¢omwy forthat period. In rA¢paring thtse financial AaIthnen the tFU5t¢ts re ffequired its.. ele¢t 5uithble accowthng p)li¢ies knj thEn I]Y bserve win¢iple5 inihecknities SORP: eiudws aTh1 ¢#im•t¢5thu4reTe45(mJN¢ prnd¢hL wljetherapplicable UK Accounti StsndJ¥ds hav¢ ittn fol]owt4 sutyxt any Tnat¢ri•l d¢pmtt$ disclosed aThJ explained it) the fitwial saterDen "prepare Ihe financ¥al Mmcnts the goir wKcrn basis wIE$5 il 15 lmpprnprit F¥estsme that the Charit]e comp8thy Will ujrtirttr in IMtsiT The tswstees lte tespoF)sible for maintsihifi8 proper actOUrfin8 records which distknse with rewtthle xcuracy al any time the fin111 Wjsili¢ of the charitable tompkny aTrJ efiknle to ensure that the financial statements comply with the Comptrtits Act 2006. They are atso restwiblc for 5af¢guarding the %sets of the charitsbk comwy aTrJ hette fcf tskin8 re4soMble steps fot the PTeY¢niion and ddeciiort or frwd stvj ¢tlr irregulitie In 50 fw $ theinL4etsare aware.. There is TeleVI I]1 inf0mlati of which IhedArbtth compaw's ate wwware" 8nd ihemtstees havetskrn all 51cpsthal thtyouehttohavetskento mak¢tknselvesawartofanyrekv•n¢tudii inforntityJ And toestablish thatthealItQ4re aware of that irtfrjrMIOn. The trustees are rwrtsible fot the m8inithw inwty Of tht ¢orPJt md finla1 inforMlon incltstsl on thecharitabl¢ CompY'S wtbsile. L¢gtsJion in thEUn• Kingdom g¢)vernin8the weparntiDn Ind dikmrtMtton of fina111 str1ents maydiffer from leE1sIN)Th in other juyjsdidi0r. On beh8ifof the b(wd of truxee5 10109r2024 HJiy¥oZheng
THE MUBAN EDUCATtONAL TRUST JNDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MUBAN EDUCATIONAL TRUST I report on the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2024. Responsibilities and basis of.report As the charity's trustees of the Company (and also its dire¢tors for the puryoses of company law) you are rcsponsible for the preparation ofthe accounts in accordance with the requirements of the Companies Aci 2006 ('the 2006 Act'}. Having satisfid MYlf that the accounts of the Company arc not required to bc audited under Part 16 of the 21)06 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 carrying out my examination I have followedthe Directio9 given by the Charity Commission under section 145(5) (b) of the 2011 ACL Independent examlner's statement I have completed my examination. l ¢onfirm that DO matt¢r5 hav¢ come to my atteJ)tion in connection with the examination giving me ca¢ to believe: accounting records were not k¢pt in re5Pttt of the Company &8 rquired by section 386 of the 2006 Act: or 2. the accounts do not accord with those record8. or 3. the a¢¢ounts do not comply with the accowlting requirements of Section 396 of thc 2006 Act other th3n any requirement that the accounts give a 'lTue and fair view which is not a matter constdered as part of an independent examination. or 4. the accounts have notbcen prepared in accordance with the methods and Principles of the Statement of Recommended Prdctice for accounting and reporting by charities applicable to chaTities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ 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 accowits to be rcached. 1010912024 Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG
THE LUBAN EDUCATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCO FOR THE YEAR ENDED 31 MAY 2024 Note 2024 2023 Unrestricted Unrestricted Funds Fund$ Inc Donations Charitsble activities Rental income 10.638 89.781 10.370 3,688 29,979 7.671 Total income 110.789 41.338 enditure on Raising fimds Charitable activitie5 144.947 125.048 Total expenditure 144.947 125.048 Net (expenditsrev income for th¢ yur b¢fore net Galnsl(losses) on Investments (34.158) (83,710) Net (lossesy gains on investments 17.636 Net (exp¢nditure)l in¢orne for the year (34,158) (66,074) Total brought forward 426.585 492,659 Total funds carried forward 392.427 426,585 The slalement of financial activities also complies with the rquirernents for an income and expenditure account under the Companies Act 2006.
THE MUBAN EDUCATIOI4AL TRUST BALA14CE SHEET AS AT 31 MAY 2024 2•24 2023 Fixed Awts T8ngiblc#ssets InvestmeNs 390.666 39).666 Current A55ets CAsh Ai b8k And in I 392.427 35.919 35.919 CreditOF5: mo4nts fallirn# dutYi¢bi• oneyoar Net c¥rreDt 955ets 392.427 35.919 Tor¥1 assets 1¥5 liabiliti 392,427 426.585 ID¢ome f¥nd5 UnrtStrSCted Funds 392.427 426.585 392.427 426.58) Thecompny isenliiled iothtexemwion ftc theaudiiTcquifLY)Xrt¢ont8ined in It4770rih¢ Companies A¢t 21x16. forthe y[led]I May ?024. Nomemberofth¢ Company ha5dep)siied• IiLe. pursuAni 10 se10n 476: requiring an audit of thcse accounis. The direeiors acknowkdg4e their rrsFw$bi iliEie5 for cnsuriTrE ihai tbc companv Keeps *ct4XJffting records ivhich complv i¥jih Sec¢ i%6of lh¢ AU •nd weparing atcounts whbEh give a Iwt and fair view of the Stale ofaffairs of Iht COmnY Ji 31 May 2Q24 ind of 115 rtsuli for Ihc ycar cndtd in athance wilh Sl0n394 1Nl39i.3ndotherwise£onM)lywithireqirtffEmSOrthe Adrelatins to a¢ciwM$, $0 far as 4yp1•b1C Ihecompgrty. Th¢accounishavtbeenprepaTtdHccThdan¢e withihcspe¢olpmvksra1inglOsm•ll ¢o]npan¥cs wiihiD Pgn 15 Ol'the Cofflpanies Att 2006. Tht aLCQUIIL% Wtre approvtd by 8oard on ... .... HaiyJo herjg Cornpy•y Regisir81i0o 140.. 065103122
THE MUBAN EDUCATIOIYAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2024 8a$h of proparation The financial statements hav¢ b¢cn prepared in accordw with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to chariti¢s preparing their accounts in accordance with the Financial R¢porting Standard appliubl¢ in the UK and Republic of Ireland (FRS 102 - effective I January 2015) - (Charities SORP FRS 102) and th¢ compani A¢t 20(16. The charitable company meets the definition of a public benefit entity undu FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. bl Reconclllatlon Twlth prevlou$ty G•nerally A¢¢epled Ac¢ountOng Pract1 (GAAP) In preparing the a¢¢ounts. the trwiees have Considered whether in applying the accounting policies r¢quired by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was requiTed. ¢1 Going ¢on¢em The tTUStee5 consider that there are no material uncertainties about the ¢haritsble company's ability to continue as a going conceTn. The trustee5 do not consider that there are any Sources of estimation uncertainty at the reporting date that have a SIlficant risk of causing a rnaterial adjustment to the carying amounts of assets and liabilities within the next reporling period. d) Incom* Income is recolsed when the chaTity has entitl¢m¢nt to the fiwds. any perforn)ance conditions attached to the income have been meL it is Probable that the inwn¢ will b¢ rcl¥¢d and that the amount can be measured reliably. el Fund accounting Unr¢stri¢t¢d funds are available to spend on activities that further any of the PuseS of charity. EXpendIre and Irreo>vernble VAT Expenditure is reColsed once there is a legal or ¢onstwctiv¢ obligation to make a payment to a third paty, it is probable that settlement will be required and the arnount of the obli8ation w be measured reliably. Expenditure is classified under the following activity headings.. Expenditure on ¢haritable activities include5 the costs of activities undthaken to fier the purposes of the charity and their associated support costs. g) Cash at bank al in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
THE MUBAN EDUCATtONAL TRU NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Analyses of expenditure 2024 2023 Cost of Raising Funds Chritablt a¢ttvltles Prof¢55ional 5¢rvic¢s Artists Rent and rates Proj¢¢t costs Security costs Books and print outs Repairs Mark¢ting TT8v¢lling Postage Telephone and intern¢t Sundry Independent examination Bank charges Depreciation 42.139 26.2 30.392 22.727 1.805 10.775 .927 741 1448 1.438 2.791 371 1.320 71 51.894 4.167 29,625 9.341 996 19.350 1.382 896 ,256 3,157 .539 160 1.200 85 144.947 125,048 Totsl expenditure 144.947 125,048 Computer EquipmeDt At l Jun¢ 2023 Additions 1,412 At 31 May 2024 1,412 Depreclgtion At l June 2023 Char8e for the y¢ar 1.412 At 31 May 2024 1.412 Ne¢ book vlue At 31 May 2024 At 31 May 2023
THE MUBAN EDUCATIONAL TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Investmemts 2024 2023 Investment5 •t fir value: Listed Inveslment funds 390.666 390,666 Movement: Mark¢t value at the s14rt of the year Athlitions at cost Disposals at carryirtg value Net gainl(loss) on revaluation 390.666 483.030 (390.666) (I 10.000) 17.636 Market value at the end of the yeaT 390.666 Credltors: amouttts fUiME dut wlthkn o*e year 2024 21123 AccTuals Analysls of net assets between funds General unrestricted Oe518nated Restrirted Total fund5 Fixed assets Net current assets Net assets at the end of the year 392.427 392.427 392,427 392,427
THE MUBAN EDUCATIONAL TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Staff eo$ts #nd key management personnel There were no ernployees in the year (2023: none). There were no employee benefits payments io key management persotmel in the year (2023: Nil). Emoluments of the tThStees Truslees did not receive rernunerdtion during the year (2023.. Nil). The trustres were not r¢imburs¢d for expenses during the year (2023: Nil). Related party trnnsactions There were no related paty transactions in the year. 10-