Docusign Envelope ID: A1C068D8-353E-4194-862E-CF9951E2EE40
**MARLENE GABRIEL CHARITABLE TRUST**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
**Charity no: 1159733**
Docusign Envelope ID: A1C068D8-353E-4194-862E-CF9951E2EE40
**MARLENE GABRIEL CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2024**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
|Name of the Charity:|Marlene Gabriel Charitable Trust|
|---|---|
|Registered charity number:|1159733|
|Address of the Principal Office of the Charity:|One Bartholomew Close|
||London|
||EC1A 7BL|
|Trustees:|Marlene Gabriel|
||Harish Ravji Bhundia|
||Altum Trustees Limited|
|Administrator:|Altum Secretaries Limited|
||1st Floor|
||Liberation House|
||Castle Street|
||St Helier|
||Jersey|
||JE1 1GL|
|Solicitors:|B D B Pitmans LLP|
||One Bartholomew Close|
||London|
||EC1A 7BL|
|Governing law:|The law of England and Wales|
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Docusign Envelope ID: A1C068D8-353E-4194-862E-CF9951E2EE40
## **MARLENE GABRIEL CHARITABLE TRUST TRUSTEES' REPORT (CONTINUED)**
## **FOR THE YEAR ENDED 5 APRIL 2024**
The Trustees are pleased to present their annual Trustees’ report together with the financial statements of the Charity for the year ended 5 April 2024.
The financial statements have been prepared on a receipts and payments basis as permitted for a noncompany charity of this size.
## **STRUCTURE**
The Marlene Gabriel Charitable Trust (the **Charity** ) was established on 1 September 2014 as a charitable trust, with the initial capital funds of £5,000 donated by Mrs Marlene Gabriel. The Charity is governed by a declaration of trust dated 1 September 2014 (the **Constitution** ). The Charity is registered with the Charity Commission for England and Wales under Charity Number 1159733.
## **OBJECTS**
The objects of the Charity as stated in its Constitution (the **Objects** ) are that the Trustees must use the income and may use the capital of the Charity in promotion of the following:
- to relieve for the benefit of the public children and young people with a learning disability and their families, dependants and carers who are in need;
- the prevention for the benefit of the public of hardship for children and young people with a learning disability and their families, dependants and carers;
- the prevention for the benefit of the public of social exclusion for children and young people with a learning disability and their families, dependants and carers who are in need; and
- the advancement for the benefit of the public of education and training of children and young people with a learning disability.
## **TRUSTEES**
Trustees are appointed in accordance with the Constitution of the Charity. The minimum number of Trustees, as required by the Constitution, is two. Save for Mrs Marlene Gabriel, who may serve as a Trustee for life, all other Trustees may be appointed for a term of three years. No Trustee (other than Mrs Marlene Gabriel) may serve for a consecutive period of more than nine years, save by unanimous resolution of the other Trustees.
The Trustees meet at least annually to agree the broad strategy and areas of activity for the Charity, including consideration of grant-making, reserves and risk management policies and performance. The day to day administration of grants and the processing and handling of applications prior to the consideration of the Trustees is handled by the Administrator. All Trustees give of their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses and related party transactions are disclosed in note 2 to the accounts. Trustees are required to disclose all relevant interests and withdraw from decisions where a conflict of interest arises.
The Trustees also ensure that the Charity complies with its responsibilities and requirements as required by law.
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Docusign Envelope ID: A1C068D8-353E-4194-862E-CF9951E2EE40
## **MARLENE GABRIEL CHARITABLE TRUST TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024**
## **ACTIVITIES AND PUBLIC BENEFIT**
In furtherance of the Objects, the Charity made a grant of £10,000 to Mencap during the year (2023: £10,000 to Mencap) in support of their early intervention programme for very young children with learning disabilities, their parents, carers and family.
The Trustees have had due regard to the Charity Commission’s guidance on public benefit in exercising their powers and duties. The Charity has carried out its Objects by providing a grant to an institution which is also a UK registered charity and whose objects comply with the Charity’s criteria. Whilst the Trustees are mindful of their own obligation to ensure that the Charity benefits the public generally, they take some assurance from the fact that the recipient of this grant is itself regulated to ensure that it operates in accordance with the guidance from the Charity Commission on public benefit.
## **FUTURE PLANS**
It is the intention of the Trustees to continue to manage the assets of the Charity, which may include establishing an investment portfolio so as to generate income, from which additional grants will be made to charitable organisations that support young people with learning disabilities and their families and carers.
## **FINANCIAL REVIEW**
During the year, the Charity made a grant payment of £10,000 (2023: £10,000) and held cash of £15,923 at the end of the year (2023: £2,104).
## **RESERVES POLICY AND GOING CONCERN**
The Trustees have examined the Charity’s requirements for reserves in the light of the main risks to the organisation. The Charity has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the Charity should be approximately 6 months of expenditure. The reserves are needed to meet the working capital requirements of the Charity and the Trustees are confident that at this level they would be able to continue the current activities of the Charity in the event of a significant drop in funding.
## **RISK**
The Trustees have considered the major risks to which the Charity may be exposed and have taken steps to mitigate these, including ensuring that the grant recipients are fully aware of the purposes for which the grant should be applied.
## **EXEMPTIONS FROM DISCLOSURE**
There are no exemptions.
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Docusign Envelope ID: A1C068D8-353E-4194-862E-CF9951E2EE40
## **MARLENE GABRIEL CHARITABLE TRUST TRUSTEES' REPORT (CONTINUED)**
## **FOR THE YEAR ENDED 5 APRIL 2024**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with the Constitution and applicable law. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the applicable Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees acknowledge their responsibilties for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity.
On behalf of the Trustees
Altum Trustees Limited
Altum Trustees Limited
Marlene Gabriel
Harish Ravji Bhundia
Date: 16 October 2024
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Docusign Envelope ID: A1C068D8-353E-4194-862E-CF9951E2EE40
Docusign Envelope ID: A1C068D8-353E-4194-862E-CF9951E2EE40
## **MARLENE GABRIEL CHARITABLE TRUST**
## **STATEMENT OF ASSETS AND LIABILITIES (CHARITY NO: 1159733) AT 5 APRIL 2024**
|**£**
**£**
**£**
**Restricted**
**income funds**
**Endowment**
**funds**
**Unrestricted**
**funds**|**Total**
**Total**
**2024**
**2023**
**£**
**£**
**Endowment**|
|---|---|
|**Cash funds**
Cash funds
15,923
-
-|15,923
2,104|
|**Total cash funds**
15,923
-
-
blank
**The funds of the charity**
Unrestricted income funds
15,923
-
-
Restricted income funds
-
-
-
Endowment funds
-
-
-|15,923
2,104
15,923
2,104
-
-
-
-|
|**Total charity funds**
**15,923**
**-**
**-**|**15,923**
**2,104**|
16 October 2024 The financial statements were approved by the Trustees on and signed on their behalf by
Altum Trustees Limited
## Marlene Gabriel
Harish Ravji Bhundia
The notes on page 7 form part of these financial statements.
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Docusign Envelope ID: A1C068D8-353E-4194-862E-CF9951E2EE40
Docusign Envelope ID: A1C068D8-353E-4194-862E-CF9951E2EE40
Docusign Envelope ID: A1C068D8-353E-4194-862E-CF9951E2EE40
## **MARLENE GABRIEL CHARITABLE TRUST RECEIPTS AND PAYMENTS (CHARITY NO: 1159733) FOR THE YEAR ENDED 5 APRIL 2024**
**----- Start of picture text -----**
Note Unrestricted Restricted Endowment
income funds income funds funds 2024 2023
£ £ £ £ £
Receipts
Donations and Gift Aid refund 34,125 - - 34,125 19,250
Bank interest 131 - - 131 21
- -
Total receipts 34,256 34,256 19,271
Payments
Governance and support activities:
Administration fees 2 (9,469) - - (9,469) (8,450)
- -
Legal and professional fees (330) (330) (990)
- -
Other administration expenses (436) (436) (289)
- -
Bank charges (202) (202) (202)
Charitable activities:
- -
Donation to Royal Mencap Society (10,000) (10,000) (10,000)
- -
Total payments (20,437) (20,437) (19,931)
BLANK
- -
Net receipts/(payments) 13,819 13,819 (660)
- -
Total cash funds brought forward 2,104 2,104 2,764
Total cash funds carried forward 15,923 - - 15,923 2,104
**----- End of picture text -----**
The notes on page 7 form part of these financial statements.
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Docusign Envelope ID: A1C068D8-353E-4194-862E-CF9951E2EE40
## **MARLENE GABRIEL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **1 ACCOUNTING POLICIES**
## **(a) Basis of preparation**
The financial statements have been prepared on a receipts and payments basis and under the historical cost convention.
## **(b) Income recognition**
All income is recognised by the Charity when received.
## **(c) Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Restricted funds are donations which the donor has specified are to be solely used for a particular purpose. Endowment funds are restricted funds of a capital nature.
## **(d) Expenditure recognition**
All expenditure is accounted for when paid. All expenditure, including support and governance costs are allocated to the applicable fund in the receipts and payments account.
Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include administration, overhead and governance costs where governance costs comprise all costs involving the Charity's compliance with regulation, e.g. legal fees and accounting fees.
## **2 RELATED PARTY TRANSACTIONS**
Altum Trustees Limited, a Trustee of the Charity, wholly owns Altum Secretaries Limited, the administrator of the Charity. Altum Secretaries Limited was paid £9,469 for administration during the year (2023: £8,450).
## **3 EVENTS AFTER THE PERIOD END**
Following the year end it was noted that the Charity has been overcharged an immaterial amount relating to administration fees and a reimbursement has been issued. This will be recognised in the following year accounts.
There have been no other significant events since the date of the statement of assets and liabilities which require adjustment to or disclosure in these financial statements.
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