DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 Charity number.. 1166932 THE MARIAN ELIZABETH TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees. report Independent auditors. report on the financial statements ststement of financial activities 10 Balance sheet ststement of cash flows 12 Notes to the financial statements 13-19
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Michael John Edwards OBE BA Robert Rowley Maureen Edwards Rosemary Aexandra Edwards BA Charity registered number 1166932 Principal office The Enterprise Centre Priors Hall Corby NN17 SEU Independent auditors Grant Thornton UK LLP Chartered Accountants & Statutory Auditor Royal Liver Building Liverpool L3 1PS Bankers Barclays Bank PIC 8 Market Place Kettering Northamptonshire NN16 OAX Page 1
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report together with the financial statements of The Marian Elizabeth Trust (the charity) for the year ended 31 March 2024. The Trustees confirm that the Trustees, report and financial slalements of the charity comply with the current slatulory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice ISORPI, applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. Objectives and activities a. Policies and objectives The objective of the charity is to promote such charitable causes and purposes for the public benefit as the Trustees think fit, in particular and without limitation lo the generality of the foregoing words, to promote the physical and mental welfare of people who suffer from mental illness, incapacity or disability, arrested or incomplete development of mind, psychopalhic disorder or any other disorder of the mind. The trust makes grants lo charitable organisalions, such as hospices which specialise in providing care lo children suffering with severe disabilities, with special focus on those with profound and multiple learning difficulties. In selling objectives and planning for aclivilies, the Trustees have given due consideration to general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Public benefit.. running a charity IPB21'. b. Main achievements sin being formed, the charity has made many significant grants lo numerous charitable organisalions. The financial support provided has been invaluable to those who have received the grants. The charity plans lo continue ils support. The Marian Elizabeth Trust approved the renewal of existing grants for a further three years. This includes Claire House- Birkenhead, and Family Fund. c. Grant-making policies The charity makes grants lo charitable organisations, such as hospices, which specialise in providing care lo children suffering with severe disabilities, with special focus on those wf(h profound and multiple learning difficulties. The Trustees have sought to benefit the public through a range of grants lo charitable causes within the conditions of the trust deed. Achievements and performance Review of activities and financial review The attached financial statements give details of the financial transactions in the year and the financial position of the charity al the year end. During the year the charity made grants totalling £1,200,00012023'. £2,044,900) to various charities, as detailed in note 5 to the financial statements in line with the charities objectives. There was nel income for the year amounting lo £622,70612023 nel expenditure.. £858,741) and the unrestricted funds at 31 March 2024 amounted to a nel surplus of £326,666 12023.. a deficit of £296,040). The Trustees believe there is now sufficient funding available lo cover all future grants payable. Page 2
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST TRUSTEES. REPORT ICONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 other policies a. Going concem The trustees consider il appropriate for the accounts to be prepared under the going concern basis. In reaching this conclusion, the Iruslees have reviewed their current funding commitments, which are in place until 2026. After reviewing future cashflows, available cash resources and expected future donations the trustees consider the charity lo have sufficient positive reserves to cover all current and future commilled expenditure. As a result, the Iruslees have a reasonable expectation that the charity has adequate reserves lo continue in operational existence for a period of at least 12 months from the dale of approval of the financial statements, and as such continue lo adopt the going conrn basis. b. Reserves policy Unrestricted funds at 31 March 2024 amounted to a surplus of £326,66612023." £296,040 deficit). In line with the Governing Document, funds not required for immediate use are placed in a deposit account. The Trustees look to retain sufficient cash reserves as they consider necessary to make gmnls that have been committed and are looking to fund that principally from voluntary income. c. Principal funding The Trustees are satisfied that the charity's assets are available and adequate to fulfil ils obligations. Structure, govemance and management a. Constitution The Marian Elizabeth Trust is a registered charity, number 1166932, and is constituted under a Trust deed dated g March 2016. 11 was registered as a charity on 5 May 2016. The Trustees throughout the year and as at 31 March 2024 were as follows". Michael John Edwards OBE BA Robert Rowley Maureen Edwards Rosemary Aexandra Edwards BA The principal address of the charity can be found on page 1," the Reference and Administrative Details of The Charity, its Trustees and Advisers page. b. Methods of appointment or election of Trustees In accordance with the Trust Deed, Trustees must be appointed by Michael Edwards during his lifetime and thereafter by resolution of the Trustees. c. Decisionrymaking policies The charity is run by the trustees, any decisions required are taken by the Iruslees. Page 3
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST TRUSTEES. REPORT ICONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 structure. governance and management Icontinuedl d. Policies adopted for the induction and training of Trustees The Trustees are mindful of their duties in connection with training for Trustees and appropriate steps have been taken. e. Pay policy for key management personnel The Iruslees are considered to be the charity's key management personnel, they are responsible for the direction and control of the charity's aclivilies. The Iruslees have all given their time freely lo the charity. f. Financial risk management The Trustees have assessed the major risks lo which the Charity is exposed, in particular those related lo the operations and finances of the Charity, and are satisfied that systems and procedures are in place lo miligale exposure lo the major risks. There is no one prolific serious risk to note. g. Information on fundraising practices There were no fundraising activities in the year, and it is the Trustees, general policy not to engage in fundraising activities. h. Plans for future periods The charity aims to continue to achieve its objectives of promoting charitable causes and making grants lo numerous charitable organisalions in line with the charity's governing document. Post balance sheet events The have been no events since the balance sheet date. Page 4
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST TRUSTEES. REPORT ICONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 statement of Trustees. responsibilities The Iruslees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and regulations. The Charities Act 2011 requires the Iruslees to prepare financial statements for each financial year. The Iruslees have lo prepare the financial slalements in accordan with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl, including FRS 102 The Financial Reporting standard applicable in the UK and Republic of Ireland. The Iruslees musl not approve the financial slalemenls unless they are satisfied that they give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial stalemenls, the Iruslees are required to.. select SLJitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charities SORP IFRS 1021", make judgements and accounting estimates that are reasonable and prudent", prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Iruslees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any lime 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 trust deed. 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. Disclosuro of infomiation to auditors Each of the persons who are Trustees al the time when this Trustees, report is approved has confirmed Ihal.. so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity'5 auditors are aware of that information. Auditors The auditors, Grant Thornton UK LLP, have Indicated their willingness lo continue in offi. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by.. Michael John Edwards OBE BA Trustee Dale.. 3111/2025 Page 5
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARIAN ELIZABETH TRUST Opinion We have audited the financial statements of The Marian Elizabeth Trust (the 'charityl for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of Cash Flows, and notes to the financial slalements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the slate of the charity's affairs as at 31 March 2024 and of ils incoming resources and application of resources for the year then ended., have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Statement of Recommended Pmetice." Accounting and Reporting by Charities, 2019 Edib'on, and have been prepared in accordance with the reqU1ments of the Charities Act 2011. Basis for opinion We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the 'Auditorfs responsibilities for the audit of the financial statements, section of our report. We are independent of the charity in accordance wth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern We are responsible for concluding on the appropriateness of the trustees, use of the going concem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability lo continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor's opinion. Our conclusions are based on the audit eviden obtained up to the dale of our report. However, future events or Conditions may cause the charity lo cease to continue as a going concem. In our evaluation of the trustees, conclusions, we considered the inherent risks associated with the charity's business model including effects arising from macro-economic uncertainties such as the impact of cost inflation, we assessed and challenged the reasonableness of estimates made by the Iruslees and the related disclosures and analysed how those risks might affect the charity's financial resources or ability lo continue operations over the going concern peri(. In auditing the financial statements, we have concluded that the trustees, use of the going COnM basis of aceounling in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect lo going concem are described in the relevant seetions of this report. Page 6
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARIAN ELIZABETH TRUST ICONTINUEDI Other information The other information comprises the information Included in the Trustees, Report and Financial Stslements, other than the financial slalements and our auditor's report thereon. The trustees are responsible for the other Information contsined within the Trustees, Report. Our opinion on the financial statements does not cover the other information and, except to the extent olhenmise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other Information and, in doing so, consider whether the other Infomiation is materially inconsislenl with the financial statements, or our knowledge obtained in the audit or olhenmise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misslatemenls, we are required lo determine whether there is a material misslatemenl in the financial slalements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other Information, we are required lo report that fact. We have nothing lo report in this regard. Matters on which wo are requirgd to report by exception We have nothing lo report in respect of the following matters where the Charities {Accounts and Reports) Regulations 2008 requires us to report to you if, In our opinion.. the information given in the Trustees, report is inconsistent in any material respect with the financial slalements., or the charity has not kept sufficient accounting re¢ords', or the financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we requi for our audit. Responsibilities of trustees As explained more fLJlly In the Trustees, Responsibilities Statement set out on page 5, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such Internal onlrol as the Trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's abilty to continue as a going concern, disclosing, as applicable, matters related to going conTrrn and using the going concem basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic altemalive but to do so. Auditorfs responsibilities ft>r the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will aayS detect a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they ould reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. The exlenl to which our Page 7
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARIAN ELIZABETH TRUST ICONTINUEDI procedures are capable of delecling irregularities, including fraud is detailed below.. We obtained an understanding of the legal and regulatory frameworks applicable to the charity, and the industry in which it operates and determined which may influence the financial ststemenls. Given the nature of ils operating activities, the charity is subject lo several laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements. We determined that the following laws and regulations are the Most significant which are directly relevant to specific assertions in the financial statements. Those that relate lo reporting frameworks being FRS 102 and the Statement of Recommended Practice I'charities SORP IFRS 1021.1, the Charities Act 2011 and the relevant lax compliance regulations. We assessed the sus¢eplibility of the charity's financial statements to material misstatements, including how fraud might occur. We performed the following audit procedures to address the risks related to irregularities and fraud". evaluats'on of the processes and controls in place lo address the risks related to irregularities and fraud., review and testing of journal entries., identifying related parties and performed a review for any related palty transactions in the year. We have enquired of the Trustees whether there was any awareness of instances of non-complian with laws and regulations or whether they had any knowledge of actual or suspected fraud. We corroborated the results of our enquiries lo supporting documentation such as board minute reviews. In assessing the potential risks of material misstatements, we obtained an understanding of the charity's opeotions, the applicable statutory provisions and business risks that may result in risk of material misststemenl, and the charity's control environment, including the adequacy for authorisation of transactions. These audit procedures were designed lo provide reasonable assuran that the financial statements were free from fraud or error. The risk of not delecling a material misslatemenl due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than delecling those that result from error, as fraud may involve collusion, deliberate con¢ealmenl, forgery or intentional misrepresentations. Also, the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it. The engagement team's experience with similar engagements, their understanding and knowledge of the charity's industry and their understanding of the industry and regulatory requirements were considered in assessing the appropriateness of the collective Competen and capabilities of the engagement team. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. www.frc.or .uklauditorsres onsibilities. This description forms part of our Auditors, report. Use of our report This report is made solely lo the charity's Iruslees, as a body, in accordance with Part 4 of the Charities IAccounts and Reports) Regulations 2008 and section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might stale to the charity's trustees those matters we are required lo slate to them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility to anyone other than the charity and ils Iruslees as a body, for our audit work, for this report, or for the opinions we have formed. Page 8
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARIAN ELIZABETH TRUST ICONTINUEDI Grant Thornton UK LLP Statutory Auditor, Chartered Accounlanls Liverpool Dale.. 3111/2025 Grant Thornton UK LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 9
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Investments 1,820,440 24,489 1,820,440 24,489 1,203,689 1,699 Total income 1,844.929 1,844,929 1,205,388 Expenditure on: Charitable activities". Grants Support costs Governance 1,200,000 1,200,000 2,044,900 779 19,050 22.223 22.223 Totsl expenditure 1,222,223 1,222,223 2,064, 129 Net movement In funds 622,706 622,706 (858, 741) Reconciliation of funds: Total funds brought fOnard Nel movement in fvnds {296,0401 622,706 {296,0401 622,706 562, 701 (858, 741) Total funds carried foNiard 326,666 326,666 (296,040) The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 13 to 19 form part of these financial statements. Page 10
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Current assets and liabilities Cash al bank and in hand 14 1,895,438 1,118,949 Creditors.. amounts falling due wthin one year 10 {1.068.772} (666,989) Net current assets 826.666 451,960 Total assets less current Ilabllltles 826,666 451,960 Creditors.. amounts falling due after more than one year 11 {500.0001 (748,000) Total net assetsllliabilitiesl 326.666 (296,040) Charity funds Unrestricted funds 12 326.666 (296,040) Total fundslldeflcltl 326,666 (296,040) The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. t(duLL tIwArls Michael John Edwards OBE BA Trustee Dale.. 31/1/2025 The notes on pages 13 to 19 form part of these financial statements. Page11
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Note Cash flows from operating activities Nel cash generated from operating activities 13 776,489 2,620 Cash flows from investing activitios Net cash provided by investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 776.489 2,620 1,118,949 1,176,329 Cash and cash equivalents at tho end of the year 14 1.895,438 7,118,949 The notes on pages 13 to 19 form part of these financial statements Page 12
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ggnoral information The Marian Elizabeth Trust Is an unincorporated charity, registered in England and Wales. The Charity number is 1166932 and the registered address is The Enterprise Centre, Priors Hall, Corby, NN17 5EU. Accounting policios 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities". Statement of Recommended Practice applicable lo charities preparing their accounts in aceordanee with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeetive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities". Statement of Recommended Prackn. effective from 1 April 2005 which has since been withdrawn. The Marian Elizabeth Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless olhermse slated in the relevant accounting policy. The financial statements are presented in Steding 1£). Please see page 1 for details of the registered office address. 2.2 Going concern The trustees consider it appropriate for the accounts lo be prepared under the going concem basis. In reaching this conclusion, the trustees have reviewed their current funding commitments, which are in place until 2026. After reviewing future cashflows, available cash resources and expected future donations the trustees consider the charity to have sufficient positive reserves lo cover all current and future committed expenditure. As a result, the trustees have a reasonable expectation that the charity has adequate reserves to continue in operational existence for a period of at least 12 months from the date of approval of the financial statements, and as such continue lo adopt the going concem basis. 2.3 Income All income is recognised once the Charity has entillemenl to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Investment income in the form of interest is recognised on a receivable basis. Page 13
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinuedl 2.4 Expenditure Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on charitable activities Is incurred on direcdy undertaking the activities which further the Charity's objectives, as well as any associated support costs. Governance costs are those incurred in connection with the administration of the charity and compliance with conslitulional and statutory requirements. Grants payable are Charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a commitment, bul not accrued as expenditure. Grants payable are included in the financial statements on an undiscounled basis as in the view of the Trustees this provides a more meaningful view of the transactions. 2.5 Intorgst recgivablo Interest on funds held on deposit is Included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Cash at bank and in hand Cash at bank and in hand includes 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 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the selllemenl can be estimated reliably. Liabilities are recognised at the amount that the Charity anlicipales it will pay lo settle the debt or the amount it has reTrived as advanced payments for the goods or services it must provide. Grants payable without performance conditions are On recognised as a liability when a commitment has been made and there are no conditions to be met relating to the grant which remains in the control of the charity. 2.8 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Page 14
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinuedl 2.9 Fund accounting General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Income from donations and logacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations 1,820,440 1.820,440 1,203,689 Donations totalling £1,820,44012023". £1,203,689) were received from Michael Edwards, a Iruslee of the charity. Investment income Unrestrieted funds 2024 Total funds 2024 Total funds 2023 Interest receivable 24,489 24,489 1,699 Page 15
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of grants Grants to Institutions 2024 Total funds 2024 Total funds 2023 Grants payable 1,200,000 1.200.000 2,044,900 2024 2023 Acorns Children's Hospice Rainbows Hospi Family Support Fund Rulland Rotoracl Family Support Centre Newlife Centre 1,005,000 600,000 39,000 400,000 900 Amber Keating Claire House Family Fund 600.000 600,000 1,200,000 2,044,900 Support Costs 2024 2023 Bank interest paid 179 No support costs relate to grant making activities. Governance costs 2024 2023 Accountancy, audit and taxation fees 22,223 19,050 Page 16
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Auditors. remungration 2024 2023 Fees payable lo the Charity's auditor for the audit of the Charity's annual accounts 15,552 14,400 Fees payable lo the Charity's auditor in respect of accounts production services Taxation compliance services 3,780 2,891 3,600 1,050 Trustees. and employees remuneration and expenses During the year, no Trustees received any remuneration or other benefils12023 - £Nil). During the year, no Trustee expenses have been incurred (2023- £Nil). There were no employees of the charity during the current or prior year. As such, no employee received remuneration of £60,000 or more in the current or prior year. 10. Creditors: Amounts falling due wtthin one year 2024 2023 Grants payable Accruals 1.048,000 20,772 648,000 18,989 1,068,772 666,989 Grants payable due within one year in the current year consist of amounts owing lo Acorns Children's Hospice for £335,000, Rainbows Hospice Family Support Fund for £200,000, Rulland Rotoracl Family Support Centre for £13,000, NeIfe Centre for £100,000, Claire House for £200,000, and Family Fund £200,000. Grants payable due within one year in the prior year consist of amounts owing to Acorns Children's Hospice for £335,000, Rainbows Hospice Family Support Fund for £200,000, Rulland Rotoracl Family Support Centre for £13,000, and Newlife Centre for £100,000. Page 17
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Creditors: Amounts falling due aftgr more than one year 2024 2023 Grants payable 500,000 148,000 Grants payable due after more than one year in the current year consisted of amounts owing to Newlife Centre for £100,000, Claire House for £200,000, and Family Fund for £200,000. Grants payable due after more than one year in the prior year consisted of amounts owing lo Acoms Children's Hospice for £335,000, Rainbows Hospi Family Support Fund for £200,000, Rutland Roloract Family Support Centre for £13,000, and Newlife Centre for £200,000. 12. Summary of funds Summary of funds- current year Balance at 1 April 2023 Balance at 31 March 2024 Income Expenditure General funds {296,0401 1.844.929 11.222.223) 326.666 Summary of funds- prior ygar Balance al l Apnl 2022 Balan at InGome Expenditu 31 March 2023 General funds 562, 701 1,205,388 (2,064, 129) (296,040) 13. Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Nel incomelexpenditure for the period las per Statement of Financial Acts'vitiesl 622,706 (858, 741) Adjustments for: Increase in creditors 153.783 861,361 Net cash generated from operating activities 776,489 2,620 Page 18
DoGUSign Envelope ID." 7A27EEEB4B07.4502ADDF.87EED7786659 THE MARIAN ELIZABETH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Analysis of cash and cash equivalents 2024 2023 Cash in hand 1,895,438 1,118,949 Total cash and cash equivalents 1,895,438 7,118,949 15. Analysis of changes in net debt At 1 April 2023 Cash flows At 31 March 2024 Cash at bank and in hand 1,118,949 776,489 1,895,438 1,118,949 776,489 1,895,438 16. Related party transactions The Charity has not entered into any other related paty transactions during the current or prior year that have not already been detailed within the financial statements. nor are there any outstanding balances owing beeen related parties and the Charity at 31 March 202412023 - nonel- During the year, donations amounting lo £1,820,440 12023.. £1,203,689) were received from Michael Edwards, a Iruslee of the charity. Page 19