2025-08-13-accounts

THE MERCURY CHAR￿ABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 13 AUGUST 2025 Charity No. 1154128

THE MERCURY CHARITABLE TRUST CONTENTS PAGE FOR THE YEAR ENDED 13 AUGUST 2025 Page Legal and administrative details Report of the trustees Independent examinerfs report Receipts and payments account Statements of assets and liabilittes Notes to the financial statements 9-12

THE MERCURY CHARITABLE TRUST LEGAL AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 13 AUGUST2025 Trustees A Fisher C Fisher M Glenn Registered office Place Cret Dessous 12 Epesses 1098 Charity number 1154128 Independent examiners S Holmes ACA Azets River House 1 Maidstone Road Sidcup Kent DA14 5RH United Kingdom Bankers HSBC 8 Cork Str￿t London W1S 3LJ United Kingdom

THE MERCURY CHARITABLE TRUST TRUSTEES REPORT FOR THEYEAR ENDED 13 AUGUST 2025 The trustees present their annual report and the financial statements of The Mercury Charitable Trust for the period ended 31 December 2023. The accounts have been prepared in accordance with the accounting policies set out on pages 9 to 10 of the attached accounts and comply wrth the charitys Constitution and the Charities Act 2011 using the receipts arKI payments approach. Objectives and activities . The purposes of the charity as set out in its goveming document are as follows: To advance the eduf2tion of the public. in particular but not exdusively, in the fields of financial awareness and understanding- To improve the health of the public through research into the prevention and the cure of any disease or medical condttion" To advance the protection of the environment in particular by promoting the more efficient use of resources", Such other objects and purposes in any part of the world as are exdusively charitable in accordance with the laws of England and Wales. The main activities undertaken in relation to those purposes for the public benefit related to awarding grants to support the charitable objectives. When setting'the aims of the charity, the trustees have cornplied with their duty under section 17 of the Charities Act 2011 to have regard to the Charity Commission's guidance on public benefft. Achlevements and perforniance The Charity has continued to exercise pruden￿ in its donations and maintained close relationships with the two main Charities that it supports- Stepping Stones Recovery College, a registered charity and The University of Birmingham specifically in its support of the research department CHASM. The Charity looks fotward to continuing its emphasis on education and endeavouring to improve the lives of those who are disadvantaged though the promotion of vocational edu(2tional courses and primary research in the areas of Financial exdusion and Financial education. Financial review Overview of the year The Charity re￿iVed a totsl income of £140.250 in the year. with expenditure of £145.017 resulting in a net loss of £4.767. The Charity made grants payments during the year totalling £145,000. The net loss was lower. Our funds At 13 August 2025 funds totalled £1,113 (2024: £5,880) which were entirely unrestricted. It is the tx)licy of the trustees to retain sufFicient unrestricted funds which, in their judgement, will mitigate the short-term effect of income volatility and retain funds to generate sufficient income to meet current and future operational activities of the charity. Formal policy will be agreed by the twstees in due course.

THE MERCURY CHARITABLE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 13 AUGUST 2025 Going concern After making appropriate enquiries. the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. this is from personal wealth of the trustees and a relationship wtth key high net worth individual who will act as future donors. They do however note that the cost of living crisis has had an impact on day-today fundraising efforts and overall donations. For this reason, they continue to adopt the going cOn￿M basis in preparin9 the rinancial statements. Structure. governance and management Constitution The organisation is a charity registered with the Charity Commission. registered on 8 October 2013. The charity was established under a Memorandum of Association. whith defined the objects and powers of the charity. It is govemed under its Artides of Association. Method of appointment or election of Trustees Due to the charity being in its early stages of operation, there are only three Trustees. Going forward. the appointment process will be a robust prO￿sS principally defined by the business. knO￿edge, and development needs of the organisation. Where skills gaps occur. advertisetnents are targeted to ensure these are filled and the balance skills. knowledge and expertise is maintained. Shorttisting and assessment conducted principally through trustees. Policies adopted for the induction and trainlng of Trustees The Board of Trustees ensures that the comwsition and the breadth of experien￿ of its members are sufficient for it to discharge its responsibilities. The charity has a trustee induction and training policy. During the year the Trustees have been encouraged to keep up to date with wider sector knowledge and relevant Charity Commission guidan￿, such as the Charity Commission 5-minute guides, have been circulated. The Trustees have also been encouraged to attend the NCVO Trustee Training series. Pay policy for senior stsff There are no employees of the charity. Organisational structure and decision-making The charity for the purposes of charity law. The Board of Trustees is responsible for the overall management and control of the charity. The Board of Trustees meets a minimum of 4 times a year.

THE MERCURY CHARITABLE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 13 AUGUST 2025 Statement of Trustees. Responsibilities The trustees are responsible for prepanng the trustees. report and a0￿Unts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿). The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the situation of the charity and Of the income and expenditure of the charwty for that period in preparing these accounts the trustees are required to: Select suitable accounting policies and then apply them consistently. Make judgements and estimates that are reasonable and prudent" State whether applicable UK Accounting standards have been followed. subject to any material departures disdosed and explained in the financial statements" and Prepare the accounts on the going con￿rn basis unless it is inappropriate to presume that the charty will continue to operate. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose wrth reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011. the applicable Charity (Accounts and Reporting) Regulations and the provisions of the charity's trust deed. They are also responsible for safeguarding the assets of the charity and hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. So far as each of the trustees is aware at the time the report is approved: there is no relevant audit infomiation of which the charty's accountants are unaware and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant accountant infomialion and to establish that the accountants are aware of that information. Approved by order of the mem rs of the t)oard of Trustees and signed on their behalf by: A Fisher Trustee Date:

THE MERCURY CHARrrABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 13 AUGUST 2025 I report to the charity directors on my examination of the a￿o￿nts of charity for the year ended 13 August 2025 which are set out on pages 7 to 12. Responsibilities and basis of report As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act,). Having satisfied myself that the accounts of the company are not required to be audited and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the Directions given by the Charity Commission under secknon 145(5)(b} of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in o)nnection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act; or the accounts do not accord with those records: or the accounts do not comply with the accounting requirements Con￿mIng the form and content of accounts set out in the Charities (A￿OuntS and Rewrts} Regulations 2008 other than any requirement that the accounts give a 'true and fair view. which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection wrth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Siobhan Holmes (ACA) First Floor River House l Maidstone Road Sidcup Kent DA14 5RH Date= 27 April 2026

THE MERCURY CHARITABLE TRUST RECEIPTS AND PAYMENTS ACCOUNT (GENERAL UNRESTRICTED FUND) FOR THE YEAR ENDED 13 AUGUST 2025 Unaudited Total 2024 Total 2025 INCOME FROM: Donations and legacies Interest 140,250 5.880 Totsl Receipts 140,250 5.880 EXPENDITURE ON: Grants Other expenditure 145,000 17 Total Payments 145.017 Net income and net movement in funds Reconciliation of funds: (4,767) 5.880 Reconciliation of funds: Total funds brought foTward 5,880 Net movement in funds 14,767) 5,880 Total funds Ca￿led forward 1,113 5,880 All of the Charity's funds in the current yeaT were unreslricted. The notes on pages 9 to 12 fomi part of the financial statements.

THE MERCURY CHARITABLE TRUST STATEMENTS OF ASSETS AND LIABILITIES AS AT 13 AUGUST 2025 Unaudited 2024 2025 Notes Current assets Cash at bank and in hand 1,113 5.880 1.113 5,880 Liabtlitie$- Amounts falling due within one year Net current assets 1.113 5,880 Total assets less current liabilities 1.113 5,880 Total net assets 1.113 5,880 Charity funds Unreslricted funds 1,113 5,880 Total funds 1.113 5,880 These financial statements were approved and authorised for issue by the Trustees and signed on its behalf by: A Fisher Trustee Date.. The notes set out on pages g to 12 fonn part of these financial statements.

THE MERCURY CHAR￿ABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 13 AUGUST 2025 GENERAL INFORMATION The Mercury Charitable Tnjst, has charrty number 1154128. Its registered office is Place Cret Dessous 12, Epesses, 1098. ACCOUNTING POLICIES 2.1 Basis of preparation of financial statements The financial Staterr￿nts have been prepared in accordance of with the r￿ipts and payments approach. The Mercury Charttable Trust meets the definition of a public benefft entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Going Concern After making appropriate enquiries. the Trustees have a responsible expectation that the Foundation has adequate reSoUr￿S to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going conc£m basis in preparing the financial statements. 2.3 Fund Accounting General funds are unrestricted fijnds which are available for use at the dIs￿tion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for the other purposes. 2.4 Income All income is ￿CogniSed once the Charity has entrtlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. IncDme comprises of donations and interest. 2.5 Expenditure Expenditure is accounted for on an accruals basis and has been induded under expense ￿tegOrieS that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of resources. Expenditure on charitable activities is incurred on directly undertakyng the activities which further the Charitys objectives. as well as any associaled support costs. Grants payable are charged in the wriod when the offer is made ex￿pt in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to condttions which have not been met at the period end are noted as a commitment, but not accrued as expenditure.

THE MERCURY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 13 AUGUST 2025 ACCOUNTING POLICIES (Continued) 2.6 Cash at bank and in hand Cash at bank and in hand indudes 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. 2.7 Critical accounting judgements or estSmatlon The trustees do not consider there to be any significant judgements or sources of estimation uncertainty in relation to the preparation of the financial statements. 2.8 Taxation The Charity is ￿nsidered to pass the tests set out in Paragraph 1 Schedule 6 of the Finan￿ Act 2010 and therefore it meets the definition of a charitable company for UK corporalion tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 10