## **MOBO Trust**
**Trustees' report and unaudited financial information**
**For the year ended 31 March 2021**
## **MOBO Trust**
## **Legal and administrative information**
|**Trustees**|Professor J Shalit OBE|
|---|---|
||D Beese OBE|
||K Blackett OBE|
||J Dipple|
||A Edwards|
||C Hirst|
||R Huber|
||M Khan|
||K King CBE|
||K Kwaten|
||D H Lepart|
||C Lester|
||C Lycett|
||J Sarpong OBE|
|**Charity number**|1169006|
|**Principal address**|Unit 4A - Tileyard Studios|
||Tileyard Road|
||London|
||N7 9AH|
|**Accountants**|Smith & Williamson LLP|
||Accountants|
||25 Moorgate|
||London|
||EC2R 6AY|
|**Bankers**|Metro Bank|
||One Southampton Row|
||London|
||WC1B 5HA|
## **MOBO Trust**
## **Contents**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Accountants' report|4|
|Receipts and payment account|5|
|Statement of assets and liabilties|6|
## **MOBO Trust**
## **Trustees' report for the year ended 31 March 2021**
The trustees present their report and financial information for the year ended 31 March 2021.
The financial information has been prepared on a receipts and payments basis and complies with the charity's governing document.
## **Structure, governance and management**
The charity was established by a charitable trust deed on 25 August 2016. It is registered with the Charity Commission, number 1169006.
The trustees who served during the year were:
Professor J Shalit OBE D Beese OBE K Blackett OBE J Dipple A Edwards C Hirst R Huber M Khan K King CBE K Kwaten D H Lepart C Lester C Lycett J Sarpong OBE
The power of appointing new and additional trustees is vested in the trustees.
The trustees are responsible for the day to day administration of the charity.
The trustees have reviewed the risks to the assets of the charity and are satisfied that adequate controls are in place.
## **Objects and activities**
The charity's objects are to hold capital and income on trust and to apply them as they think fit for the purposes which are exclusively charitable according to the laws of England and Wales.
The policies adopted in furtherance of these objects are to make charitable donations within the scope of the income received during the year. There has been no change in these policies during the year.
The trustees have considered the guidance provided by the Charity Commission with regard to meeting the public benefit objective. As all donations are made to registered charities, the trustees believe that MOBO Trust is acting for the benefit of the public.
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## **MOBO Trust**
## **Trustees' report for the year ended 31 March 2021**
## **Achievements and performance**
During the year, donations of £1,320 (2020: £nil) were received.
The MOBO Trust, as the charity branch of the MOBO organisation, was established in 2016 to provide lifechanging opportunities and support to exceptional talent in music and beyond coming from disadvantaged backgrounds. From year-long apprenticeships with ITV to fellowships with the London Theatre Consortium and fashion retailer Warehouse, these opportunities have provided invaluable experience and career opportunities in industries wanting to increase diversity and inclusion in their fields.
For the past 4 years, MOBO Trust initiatives have included the MOBO Help Musicians Fund, which exists to champion and support the career ambitions of emerging artists who can demonstrate high quality musical output, an entrepreneurial spirit and the potential to achieve a national or international impact. This fund has been increasing year over year and saw two rounds of £60,000 investments into emerging artists creating music of black origin in this reporting period. Help Musicians stated that ´The relationship with MOBO Trust is seen as one of the most effective and positive relationships over the last 4 years´.
With such initiatives as the Executive LTC MOBO Fellowships programme, which aims to address the lack of diversity at executive level in UK's theatre buildings by supporting mid-career leaders and offering them mentoring, shadowing, access and skill sessions to help provide pathways to break through into executive leadership positions. The success of this and other programmes clearly demonstrates the dual value MOBO can bring to individuals looking for opportunities to advance their careers working in the creative industries whilst it simultaneously aids businesses seeking genuine solutions to their diversity challenges.
Based on that concept and very much in line with MOBO's 25 year track record of offering platforms and opportunities to exceptional unrepresented talent, MOBO rose to the challenge and, together with Accenture, developed an innovative career and networking platform - called MOBOLISE - which in its beta stage is being very well received by many including globally operating organisations - a great step forward especially during the current global pandemic, with especially black communities hit harder than most.
The MOBO Trust is seeing more interest from donors who are appreciative of the kind of work MOBO and MOBOLISE are producing to advance young people's careers in line with the MOBO Trust's mission.
## **Financial review**
It is the policy of the charity to spend the income which becomes available to it, at the trustees' discretion, in furtherance of the charity's objects.
- 2 -
## **MOBO Trust**
## **Trustees' report for the year ended 31 March 2021**
## **Trustees' responsibilities**
The trustees are responsible for preparing the trustees' report, the receipts and payments account and the statement of assets and liabilities in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare annual financial information. Under that law the trustees have elected to prepare a receipts and payments account and a statement of assets and liabilities. The trustees must not approve the financial information unless they are satisfied that they properly represent the receipts and payments for the year and the assets and liabilities of the charity.
The trustees are responsible for keeping adequate accounting records which are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the assets and liabilities of the charity and enable them to ensure that the account and statement can be properly drawn up in accordance with the Charities Act 2011, 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.
On behalf of the board of trustees
M.Khan **M Khan** Trustee & Chairman
Dated: 25 January 2022
- 3 -
## **MOBO Trust**
## **Accountants' report to the trustees on the unaudited financial information of the MOBO Trust**
In accordance with the engagement letter dated 28 February 2019, we have prepared for your approval the financial information of the MOBO Trust for the year ended 31 March 2021 which comprises the receipts and payments account and the statement of assets and liabilities from the charity's accounting records and information and explanations you have given us.
We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW), which are detailed at icaew.com/regulations.
You have approved the financial information for the year ended 31 March 2021 and have acknowledged your responsibility for it, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for its compilation.
We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial information.
## **Use of this report**
This report is made solely to you, in accordance with the terms of our engagement letter dated 28 February 2019. Our work has been undertaken solely to prepare for your approval the financial information of the MOBO Trust and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release TECH 08/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Trustees for our work or for this report.
Smith & Williamson LLP **Smith & Williamson LLP**
Accountants 25 Moorgate London EC2R 6AY
Dated: 25 January 2022
- 4 -
## **MOBO Trust**
## **Receipts and payments account for the year ended 31 March 2021**
|**Receipts**
Donations received
Total receipts - income
**Payments**
Accountancy fees
Total payments - income
Net movement on income
**Cash funds last period end**
**Cash funds this year end**|**1,320**
**690**|**2021**
**£**
**1,320**
**(690)**
**630**
**30**
**660**|-
-|2020
£
-
-|
|---|---|---|---|---|
|||||-
30|
|||||30|
- 5 -
## **MOBO Trust**
## **Statement of assets and liabilities as at 31 March 2021**
|**Assets**
Cash funds
Accountancy fees to be recharged to MOBO Organisation
**Liabilities**
Accountancy fees|**2021**
**£**
**660**
**1,380**
**2,040**
**1,380**|2020
£
30
1,380|
|---|---|---|
|||1,410|
|||1,380|
## **Trustees' approval**
In accordance with the engagement letter dated 28 February 2019, we approve the financial information for the year ended 31 March 2021 which comprises the receipts and payments account and the statement of assets and liabilities. We acknowledge our responsibility for the financial information, including the appropriateness of the accounting basis and for providing Smith & Williamson LLP with all the information and explanations necessary for its compilation.
Signed on behalf of the Trustees on 25 January 2022
M.Khan **M Khan** Trustee & Chairman
- 6 -