**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:
- Regular monitoring of major risks and development of action plans;
- Embedding risk identification and assessment within operating procedures;
- A clear structure of delegated authority and control;
- 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:
- examine the accounts under Section 145 of the 2011 Act
- 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
- 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:
- (1) which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with Section 130 of the 2011 Act; and
- 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|
Page 7
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