REGISTERED CHARITY NUMBER: 1158956
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 October 2020
for Mahouts Foundation
Mahouts Foundation
Contents of the Financial Statements for the Year Ended 31 October 2020
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 9 |
| Detailed Statement of Financial Activities | 10 to 11 |
Mahouts Foundation
Reference and Administrative Details for the Year Ended 31 October 2020
TRUSTEES
Mrs Sarah Blaine Tim Hodgetts Dr Felix Blaine Paul Haidon David Mullen Mrs Jennifer Mullen
PRINCIPAL ADDRESS
Harran Peopleton Pershore WR10 2EA
REGISTERED CHARITY 1158956 NUMBER
INDEPENDENT EXAMINER
Quilfords Chartered Certified Accountants 73A Portway London E15 3QJ
BANKERS HSBC, P O Box 4, 6 Broad Street Worcester WR1 2EJ
Page 1
Mahouts Foundation
Report of the Trustees for the Year Ended 31 October 2020
The trustees present their report with the financial statements of the charity for the year ended 31 October 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Mahouts Foundation is registered as a charity with the Charity Commission. It is governed by a Constitution, a copy of which is available from the charities office. The Trustees are required to act in the best interest of the Charity and its beneficiaries. Training and information provided includes advice about the role of Trustees and Charity law.
The Trustees make no personal gain from the Charity.
Organisational structure
The Trustees are elected in accordance with the constitution.
Financial Controls
The Trustees have overall control of the organisation's finances. The daily management of the organisation's activities is delegated to the Executive Committee.
Risk management
The Trustees review these risks on an ongoing basis and satisfy themselves that adequate systems and procedures are in place to manage the risks identified. Where appropriate, risks are covered by the organisations' insurance. The following framework is central to ensuring adequate risk management:
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Regular monitoring of major risks and development of action plans;
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Embedding risk identification and assessment within operating procedures;
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A clear structure of delegated authority and control;
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Review of key systems and procedures.
In assessing risk Trustees recognise that some areas of our work require the acceptance and management of risk if our key objectives are to be achieved.
OBJECTIVES AND ACTIVITIES
Objectives and aims
Mahouts Foundation is a family run foundation working to improve welfare with captive Elephants working in the tourism industry. The Foundation works in Thailand, Europe, also raising awareness in the UK collaborating with tour companies and educating tourists visiting Asia. It is also active in both rescues and ongoing research.
Investment powers and restrictions
There are no restrictions as to where funds may be invested, but policy has to be agreed by the Trustees and the Management Committee.
FINANCIAL REVIEW
Reserves policy
The board has set a reserve equivalent to at least one month's operating costs. The reserves of £183,648 (2019: £246,176) available by the year end October 2020.
Page 2
Mahouts Foundation
Report of the Trustees for the Year Ended 31 October 2020
FINANCIAL REVIEW
Principal funding sources
Of the £55,039 (2019: £354,132) income for the period, 73% (2019: 87%) came from european grants and donations including Just Giving.
More details about income for the period and the Charity's financial position at the end of the period are shown in the Financial Statements on pages 6 to 7.
Principal Expenditure Items
Donations totalling £52,023 (2019: £96,502) formed 38% (2019: 61%) of total expenditure. The valuable time given by unpaid volunteers, including trustees, is not quantified and not included in this figure.
Approved by order of the board of trustees on 19 April 2021 and signed on its behalf by:
Mrs Sarah Blaine - Trustee
Page 3
Independent Examiner's Report to the Trustees of Mahouts Foundation
I report on the accounts for the year ended 31 October 2020 set out on pages six to ten.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Askir Ali ACCA Quilfords Chartered Certified Accountants 73A Portway London E15 3QJ
19 April 2021
Page 4
Mahouts Foundation
Statement of Financial Activities for the Year Ended 31 October 2020
| Unrestricted fund Restricted fund Not es £ £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 5,244 49,795 Incoming resources from charitable activities Sales 19,974 - Total incoming resources 25,218 49,795 RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income 2 14,705 - Charitable activities Elephant projects 9,977 49,795 Governance costs 1,811 - Other resources expended 61,277 - Total resources expended 87,770 49,795 NET INCOMING/(OUTGOING) RESOURCES (62,552) - RECONCILIATION OF FUNDS Total funds brought forward 249,872 - TOTAL FUNDS CARRIED FORWARD 187,320 - |
31.10.20 Total funds £ 55,039 19,974 75,013 14,705 59,772 1,811 61,277 137,565 (62,552) 249,872 187,320 |
31.10.19 Total funds £ 354,132 54,354 408,486 23,423 96,502 1,800 36,120 157,845 250,641 (769) 249,872 |
|---|---|---|
The notes form part of these financial statements
Page 5
Mahouts Foundation
Balance Sheet At 31 October 2020
| Unrestricted fund Restricted fund Not es £ £ FIXED ASSETS Tangible assets 5 4,122 - CURRENT ASSETS Cash at bank 183,648 - CREDITORS Amounts falling due within one year 6 (450) - NET CURRENT ASSETS 183,198 - TOTAL ASSETS LESS CURRENT LIABILITIES 187,320 - NET ASSETS 187,320 - FUNDS 7 Unrestricted funds Restricted funds TOTAL FUNDS |
31.10.20 Total funds £ 4,122 183,648 (450) 183,198 187,320 187,320 187,320 - 187,320 |
31.10.19 Total funds £ 5,496 246,176 (1,800) 244,376 249,872 249,872 249,872 - 249,872 |
|---|---|---|
The financial statements were approved by the Board of Trustees on 19 April 2021 and were signed on its behalf by:
Mrs Sarah Blaine -Trustee
Dr Felix Blaine -Trustee
The notes form part of these financial statements
Page 6
Mahouts Foundation
Notes to the Financial Statements for the Year Ended 31 October 2020
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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.
Restricted funds can only be used for 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. COSTS OF GENERATING VOLUNTARY INCOME
| 31.10.20 | 31.10.19 | |
|---|---|---|
| £ | £ | |
| Guest trip & labour | 11,192 | 22,616 |
| Foreign currency loss | - | 807 |
| Support costs | 3,513 | - |
| 14,705 | 23,423 |
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Mahouts Foundation
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2020 nor for the year ended 31 October 2019.
4. STAFF COSTS
| 31.10.20 | 31.10.19 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries | 40,399 | 16,164 | |
| The average monthly number of employees during the year was as follows: | |||
| 31.10.20 | 31.10.19 | ||
| - | - | ||
| No employees received emoluments in excess of £60,000. | |||
| 5. | TANGIBLE FIXED ASSETS | ||
| Motor | |||
| vehicles | |||
| £ | |||
| COST | |||
| At 1 November 2019 and 31 October 2020 | 7,328 | ||
| DEPRECIATION | |||
| At 1 November 2019 | 1,832 | ||
| Charge for year | 1,374 | ||
| At 31 October 2020 | 3,206 | ||
| NET BOOK VALUE | |||
| At 31 October 2020 | 4,122 | ||
| At 31 October 2019 | 5,496 | ||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.10.20 | 31.10.19 | ||
| £ | £ | ||
| Trade creditors | 450 | 1,800 |
Page 8
Mahouts Foundation
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
7. MOVEMENT IN FUNDS
| Net | |||
|---|---|---|---|
| movement | |||
| At 1.11.19 | in funds | At 31.10.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 249,872 | (62,552) | 187,320 |
| TOTAL FUNDS | 249,872 | (62,552) | 187,320 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 25,218 | (87,770) | (62,552) |
| Restricted funds | |||
| Restricted | 49,795 | (49,795) | - |
| TOTAL FUNDS | 75,013 | (137,565) | (62,552) |
Page 9
Mahouts Foundation
Detailed Statement of Financial Activities for the Year Ended 31 October 2020
| INCOMING RESOURCES Voluntary income Donations Grants Incoming resources from charitable activities Sales Visitor's fee Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Guest trip & labour Foreign currency loss Charitable activities Elephant projects Governance costs Accountancy Support costs Management Insurance Marketing & photography Finance Wages Bank charges Other Telephone Postage and stationery Carried forward |
31.10.20 £ 5,244 49,795 55,039 7,098 12,876 19,974 75,013 11,192 - 11,192 52,023 1,811 984 2,485 3,469 40,399 472 40,871 803 149 952 |
31.10.19 £ 21,621 332,511 354,132 54,354 - 54,354 408,486 22,616 807 23,423 96,502 1,800 900 2,227 3,127 16,164 601 16,765 323 149 472 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 10
Mahouts Foundation
Detailed Statement of Financial Activities for the Year Ended 31 October 2020
| Other Brought forward Travel & accommodation Training IT equipment Admin expenses Professional fee Fundraising cost Repairs & maintenance R & D expenses Website cost Depreciation of tangible fixed assets Total resources expended Net (expenditure)/income |
31.10.20 £ 952 6,725 6,779 - 2,341 192 971 1,059 7,749 57 1,374 28,199 137,565 (62,552) |
31.10.19 £ 472 4,559 - 556 881 6,752 1,176 - - - 1,832 16,228 157,845 250,641 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 11