Reglstèred charity number 1163595 The Mimosa Trust Trustees, Report, Financial Statements and Independent Examiner's Report for the year ended 31 December 2020 The Mimosa Trust Contents Reference ond administrative details Trustees. Report for Ihe year ended 31 December 2020 Independent examirErfs ￿port kn the trustee5 of The Mimosa Tn￿1 St8lemenl of finarKial activities for the year ended 31 DeC￿ber 2020 Balance Sheet as at 31 December 2020 Cash Flow Slalement for the year eTh￿ed 31 December 2020 Notes to the financi81 statements for the year ended 31 Decanber 2020 ## **The Mimosa Trust** ## **Reference and administrative details** **Registered charity name** The Mimosa Trust **Charity number** 1163595 **Trustees** Emily Dyson Paley Ian Paley Emma Richardson **Contact address** Dyson Ltd Tetbury Hill Malmesbury SN16 ORP **Independent examiner** Tara Westcott FCCA Crowe U.K. LLP 4th Floor, St James House St James Square Cheltenham GL50 3PR **Bankers** Lloyds Bank pie 55 Com Street Bristol 8$1 1HT The Mimosa Trust Trustees, Report for the year ended 31 December 2020 The Trustees present tr￿1r report and finarci¥ slatwnerts of The Mimosa Trust nhe Twsll fort year ending on 31 December 2020. Reference and admlnlstrative details Reference and administrative detals ￿ sho￿￿ on page 1. The Trust is an unincorporated eharity registered wilh the c￿llY Commission (regislrdlion number 1163595). Structure, governance and management Governing document The Tnjsl is govemed by its trust deed dated 26 Jure 2015. Governance of the Foundation The year under review is the fifth operdting and financial year of the Twst duitr¥J thich Truslees mel lo review ils policie5 and pioCedLt￿s. Adminislralive support Is provided by The James Oyson FoLVK181ion. FirHn¢ial and accounting support is provided by WeYbou￿￿ knmiled. Recruitment and training of Tn￿lee$ The Trustees have been appointed to provide the skills idenlrfied as beirwJ r￿CesSary for the go govemance of the Trust. The Twstees are fully 8ware of their resportsibilities under charity law having received information in the forn of vditten documenlalion. K is intended that tIM"s will be made available to any ne%%ly appointe(J Truslees as Risk management In this and previous years Ihe activities of IheTrust have been of ￿l￿1velY small value and an infoma approach has been taken. Systems have been established to mitigate ttrK)se risks and procedures implemented to minimise any potential impact on the Tnjst should any of Ih)se risks malerialise. The prirtipal iisks include.. Decline in income from donations.. Loss of key benefaclors-. Reputational damage., Loss of confidential information.. Fraudulent activity., and Impacl of Covid-19 Flnanclal risk management Price risk Price risk is negligible as fIr￿ClaI instrum&*s are limited to cash and cash eqljivalenls. Credit risk Credit risk on amounts owed to the Trust is low. as tts pri￿1p￿ sOu￿e of funds is donations from the Trustees. Liquldity risk The Trust matches commitments to ils creditors wth the expected liming of cash recapts in respecl of donations from its twstees. The trustees have undertaken lo provide l￿d$ to the Trust to meet its liquidily requirement The Mimosa Trust Trustees, report for the year ended 31 December 2020 (continued) Objectlve5 and actlvltles The principalobje¢ls of IheTrusl are to ad¥￿eChan18blQ purposes as IheTrustees see fil. inparticular bul not limited lo advar￿ir¥j for public benefit he￿th¢are and research into cancer, prineipally bul r￿1 exclusively the care of those ￿ are SLrffering or have suffwed from Co￿￿. The main activity to achieve the objective5 is making grants arKI donaliorts. Evidenced by the Trust's grant making activities The Tntslees confimi that they have complied wlh their duly in Section 17 of the Charities A¢12011 tohave due regar(t lo publicbenefitguid8nce publisha by the Charity Commission for Engl8nd and Wales. Grant maklng pollcy Grants ale determined by the Trustees in xcOrda￿e ￿1th the objects of the Tntst. Applications for grants are considereil by the Trustees in line wth Tn￿1,$ objectives. Achi¢vements and perfonnance Ihe Twsl made donations lolalling £210,554 in the year. Of the donations made. £200.C63 was donatal lo Breast Cancer Now. Flnanclal revlew The Statement of Financial Activities account fort￿year1$ set on page 6. Income forlhe year was £501.256 12019.. £201.161). ￿ Tr￿t'S main source of income for the year syas donations from the TnJ5tees. The Trust made donatiorts toldlirvJ £210,554 12019.. £207,186). Ovetheads lolalled £1.540 12019.. £1,002). The Trust ended the year with £373,494 12019-. £83.8581 cash available foruse in future periods. Reswves The Trusl does riot re¢￿Ve any dorkAlions. gonts a￿1 other Sources of fuTrJNsing vhwe ￿trictiOnS are imposed that are narro4v tlwi the TnEI's overall objectives. The Tntslees are confidenllhal l￿WO￿ of t￿T￿jS1 can contirKre. Futu￿ l￿dIng￿lI mainly be derived from direct donations by Emily Oyson-Paley and lan Paley, and as s￿h the Trustees can ensure continuation. The Twstees have ￿vI￿*d iMp￿t of the Covid-19 pandemic and are confident th the swrk of the Trust can continLte and that despite the Current ¢rrcumslan¢e the Trnstees believe that the Trust's financial resource5 and contingency planning is sufficient to ensufe the ability of the Tnjsl to eonlinue as a goirrfJ concem forthe foreseeable fLrture. being al least Iwelve months from the dale of approval of these financial statemerrts therefore have prepared the financial statements on a going concem basis. The Trust's fixed costs are not significant arKt sigrufieanl ￿serveS a￿ not usually maintained, the Trustee's preferlo donate funds only %then plann&1 expeThJilure is due lo exceed c￿ent ￿erves. Plans for future periods The Tnjsl wll corrtinue lo $￿k oth opporturilies lo further its charilable objects by providing donolK)t]s and grants lo orgar4saiions and individuals. Independent Examlner Tara Westcoll of cro￿ U.K. LLP was 8ppointgJ as IrKleperKlenl Examiner forthe yew. The Mimosa Trust Trustees, report for the year ended 31 December 2020 (continued) Statement of Trustees. responslblllties The Tnjslees are responsible lorpreparing TnBlees' Ann￿1 Report and the fIna￿tal statements in accordance wlh applicable law and lthitaj Kingdom G￿erallY Accepled Accounting Praclice {Uniled Kingdom Accounting Slandarrls). The law applieable to Ch￿Ille$ in Er¥Jland and w￿eS requires the Tnjslees to prepare financial slalements foi each financi81 year %thi¢h give a and fair view of the slate of affairs ol the charity and of the income and expermliture of Ihecharily forthat period. th prepariThJ these fIna￿la1 stalemenls, the Trustees are required to.. select suitable aCCo￿ling policies and tkn appty th￿n consislerrtly- observe the methods and Pri￿1P[e$ in the Charities SORP., make judgmenls ar)d eslimaies that are reasonable and Pnjd￿'. Stale lthelher applicable a¢counlirKJ slandards have been follo￿d, SLA)iecl lo any material departures disclosed and explained in the financid slatemenls., prepa￿ the financial statements on the goiThJ ¢oncem basis U￿esS it is ir￿pproPriatetO presume that the charity %5911 continue in business. The Trustees are responsible for keepirKJ adequate accounting records that are sufficient lo showaThJ explain the charity's tran5aclion5. disclose wlh reasonable accuracy al any lime the financial posili)n of the charity and enable them lo ensure that the financial stalemenis comply wjlh the Charities Act 2011, the Charities (Accounts and Reports) Regulations aThJ the provisions of the charity's eonsliluti They are also responsible for safeguarding the assets ol Ch￿ltY ar)d hence fortaking feasonable steps forlhe p￿entIOn and dete¢lion of and other I￿Ul8ntie$. Signed on behalf of the Twslees Emily Dyson Paley Trustee Dale-. oi/,42ol( ## **Independent examiner's report to the trustees of The Mimosa Trust** l report to the trustees on my examination of the accounts of Toe Mimosa Trust (the Trust) for the year ended 31[st ] December 2020 which are set out on pages 6 to 12. This report is made solely to the charity's trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner's work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept _or_ assume responsibility to anyone other than the charity, the charity's members as a body and the charity's trustees as a body for my independent examiner's work, for this report, or for the opinions I have formed. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible _**for**_ the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act, or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and contert of accounts set out in the Charities (Accounts and Reports) 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. l 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 accounts to be reached. Tara Westcott FCCA Crowe U.K. LLP 4th Floor, St James House St James Square Cheltenham GL50 3PR Date: 15 October 2021 **5** The Mimosa Trust Rgglstered eharlty number 1163595 Statement of financial activities for the year ended 31 December 2020 Total Funds 2020 Total Funds 2019 Income from". Donations Interest ￿￿e1Ved 5C4).0 1,2 200.000 1,161 Total Income 501,256 201,161 Expenditure on: Charitable activities Administrative costs Total eXpendi￿re 10.554) {1.5401 1212.094) 1207,1861 I1.c￿2) 1208,1881 Net Incomel{e¥penditurel and net movement In funds 289,162 17.0271 Reconclllatlon of Tunds: Total funds bro ht fowdrd at 1 Janua 2020 Totsl funds carried forward at 31 De¢emb¢r 2020 83.072 90,099 372.234 83,072 All funds are unfeslricted. The Tr)tes on pages 9 10 12 fomi part of thesefinar¢ia statements The Mimosa Trust Registered charity number 116359S Balance Sheet as at 31 December 2020 As at 31 December 2020 2020 2019 Current Assets Cash al bank and in hand 373.494 83.858 373.494 83,858 Credltors fallln due within one Net current assets Totsl net assets ear 1,260 372.234 371234 83.072 83.072 The funds of tho charity Unieslricted furKIs 372.234 83.072 Totsl charl funds 372,234 83,072 Ihe notes on pages 9 10 12 fonn part of these financid slalements. These financial statements ￿tre approved authorised forissue by the board of Trustees and are signed on their behajf by-. Emily Dyso Trustee Date- aley (o The Mimosa Trust Reglstered charlty number 1163595 Cash Flow Statement for the year ended 31 December 2020 2020 2019 Net cash provlded byllused In) operating activitles (see note below) 288.380 {8.42n Cash flows frorn Inve5tlng actlvllles: Interest from investments 1.256 1,161 Chan e In cash and cash equlvalents In the year 289.636 17,2661 Cash ar)d cash u1v￿entS at the b inni of the 83.858 373.494 91,124 83,858 Cash and cash uivalents at the end of the ear A. Reconciliation of cash flows from operating activities 2020 2019 Net incomellexpendlture) for the year as per the Statement of Financial Activ5tles Adjustments for. leresl from investments Increase l {decrea5el in credito Net Cash used In operdting activities 289.162 (7.027) 11.256) 474 11.1611 P391 18,427} 288.830 Analysls of cash and cash equlvalents Cash in hand 373,494 83.858 The Mimosa Trust Reglsterod charlty nurnber 1163595 Notes to the financial statements for the year ended 31 December 2020 Accounting policies (continued) Charlty Inlomiatlon The Mimosa Trust is an unincorporated charity registered wth the Charity Commission in EnglaTrJ and Wales Iregislered no.. 1163595). The registered wlh Ihe Charity Commission is Dyson Limilgj. Tetbury Hill, Malmesbury, SN16 ORF. Basls of accounting These accounts have been prepared Lmder the histori&21 c05t convention wth ilwns recognised at cost or Irdnsaclion value unless otheM"se stat&J in the Telev￿1 ￿te(s} to these accounts. 7hese financi￿ slalemenls have been pwared in a¢¢ord8nce *fjth Accounting Reporting by Charities.. Statement of Recommended PTrctice applicable lo chwities preparing I￿rr accounts in accordance bmth Ihe Firtancial Reportir#J Standard applicable in the UK Republic of Ireland {FRS 102} leffeclive 1 January 20151 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in UK aThJ Republic of Irdand IFRS 1021 and Ihe Charities Act 2011. In the prior year the financial statements we prepaied on the receipts and payments basis. Comparative amounts have therefore been adjusted lo an accruals basis of aceounling. The Mimosa Trust meets the defirwlion of a public benefit eniily urxler FRS 102. Golng concern The Trustees have a reasonable expectation that the Twst has adequate resources lo continue its activities for the foreseeable futu￿ t￿e are no malerid uncertainties about the Trust's ability lo continue. Accordingly. they continue to adopt the going Co￿eM basis in prepari￿ the financia slalemenls. The Trust's fixed ¢0s15areTr)I signrflc￿1￿ & a general policysignificanlreserves are not maintained since regular fundirwJ wll be provided by t￿ Trustees ancl the Tnjstees preferlo provide donations o ¥then planned expenditure hs71ts'n a 124nonth pwiod is due to ex¢*J CLfftnt resaves. The Trustees do rk)Iconsiderthe Covid-19 pandemie io have had any significanlimpaclonlhe Charity's operation as future funding wll be vh)olly denved f￿rn direct donaiions by the Tnjstees, and as Such the Trustees can ensure continualion. Income from donatrons Donations are included in the Slalemenl of Financial Activitie5 Ythen the Trust has enlillement lo the funds, il 15 probable that the income wll be ￿e1Ved and the amount can be measured reliably. Grants and donations are only included in the Slalemw¢l of Fina￿la1 Aelivrties when the general incon ognilion criteria are met15. 10 10 5. 12 SORP IFRS 102)). No amoLmls are included in the financial statements forservice5 donated by volLmteer5. Incomg from Investments Investment income is included in the financial slalements vthen ￿elpt is probable and the amount ieceivable can be measured reliably. The Mimosa Trust Reglstsred charlty number 1163595 Notes to the financial statements for the year ended 31 Decemb December 2020 {continued) 1. Accounting Policies (continued) Expgndlture All expenditure is &counted foron an accruals basis. Tr* irrecoverable am0￿1 of VAT is includ8J ?Ihin the expense lo wtruch il relates. Donations are xcounted for%th paid to the ￿CIplert. Support costs include gene￿ administr*ion of tPp charity are all ajlocated lo the main activity of giving donalions. Govemance costs inclLKled wthin support Costs include expendilureon admirustration of the Charity lo ensure compliance wilh constilutional and statutory lequirem￿ls. Llablllty recognltion Liabilities are recognised kn an obligation arises lo Irdnsfer ecoromic benefits as a result of past Irdnsacliors orevenls. Debtors Accrued income is recogrrised at the settl￿ent amoLU)t. Cash and cash equivalents Cash is represented by cash in hand and deposits wilhlinartial inslilutions. Creditors Creditors are recogThsed vtsre the Tnjsl has a preserrt obligation resutting from a past event that wll probably result in the Iransfer of fu￿$ to a third party and the amount due lo settle the obligation c be measured orestimateil rdiably. C￿110[$ a￿ ThJm7Jly T￿09n1$ed al IIHr settlement amount. Flnanclal instruments The Chatily only has fina￿ ial assets and liabililres of a kiTrd that qualify as basic financial inslwmenls. Basic financial inslfuments are initially recognised at tran$￿tIOn value and subsequently measured al their selllemenl value. The Charity has the followiTrJ basic financial in51wmerbl$'. cash at bank, deblots and creditors thich are all measured al amortised cost. Slgnlficant estlmates and judgements In the preparation of these financial slalemenls management has not been reqwred to make significatt judgements orestimale5. Fund accounting All funds are unrestri¢led furKls are available foruse al the diSc￿li0n of the Trustees in furtherance of the general obje¢live5 of Ihe Trust and have not been designated forolher purposes. SOFA Compardtlves Thete are no detailed comparatives breakdoym on the SOFA due to all IT￿me berro urwestricled in the prioryear. 10 The Mimosa Trust Reglstered charity number 1163595 Notes to the financial statements for the year ended 31 December 2020 (continued) Analysis of income Income from Investments 2020 2019 Inte￿1 Income Total 1,256 1.256 1.161 1.161 Charitable activities The followrvJ donalior6 made duritwJ Ihe ye¥. 2020 2019 Breast Cancer Now The Grove Trust The Harrow Club Kensington and Chd5ea Foundalion Naomi House & Jack'5 place Worfd Sport Ministries Worfd Wldlife Four¥Jation ATAX￿ UK Bryanslon School Crisis UK 200.063 10.000 250 105 200,000 5,000 1,000 1.000 loo 50 Total 210,554 207.186 Analysis of expenditure 2020 2019 Charitable activilies {nole 31 210,554 207,186 Support Costs.. Generdl administration expenses Legal Fees Govemance costs. Independent examinerfs fees.. Independent examination Totsl Su ort Costs Totsl 10 270 1.260 991 1.002 208.188 212,094 Support costs are all allocated to the main &livity of making donations. During the year no Twslees ￿￿ved remunwalion or re4mbwsemenl of expense$12019'. £nill. The Mimosa Trust Register￿ charlty nurnber 1163595 Notes to the financial statements for the year ended 31 December 2020 (continued) Creditors 2020 2019 Accruals Total 1.260 1,260 78S 786 Analysis of net assets between funds un￿StriCted funds funds 2020 2019 Current assets CuJTent liabilities Tolal 373.494 11,2601 372.234 83,858 17861 83.072 Related party transactions During the year donations. i￿luding Gift Aid. %%ere made by the Trustees totslling £500.LW 12019.. £200,000). 12