Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ Charity Name The MaxEm Trust members of On accounts for the year 31 December 2022 Charity no 1172867 ended (if any) Set out on pages 1-12 (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2022. Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report 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 I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content 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.
I 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.
13 Jul 2023 Signed: Date: ~~Joel Courts~~ Name: J A Courts Relevant professional ICAEW qualification(s) or body (if any): Address: HW Fisher LLP, Acre House, 11- 15 William Road London, NW1 3ER
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IER
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THE MAXEM TRUST 1172867
Receipts and payments accounts CC16a
For the period Period start date Period end date
To
from 01/01/2022 31/12/2022
Section A Receipts and payments
Unrestricted Restricted Endowment
Total funds Last year
funds funds funds
to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £
A1 Receipts
Donations 71,000 - - 71,000 8,640
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total (Gross income for
71,000 - - 71,000 8,640
AR)
A2 Asset and investment sales,
(see table).
- - - -
- - - - -
Sub total - - - - -
Total receipts 71,000 - - 71,000 8,640
A3 Payments
Legal fees 1,020 - - 1,020 855
Accountancy fees 1,722 - - 1,722 3,281
Insurance 314 - - 314 296
Donations to University of Oxford 67,956 - - 67,956
Processing fees - - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total [ 71,012 ] - - 71,012 4,432
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total [ - ] - - - -
Total payments 71,012 - - 71,012 4,432
Net of receipts/(payments) - 12 - - - 12 4,208
A5 Transfers between funds - - - - -
A6 Cash funds last year end 4,485 - - 4,485 277
Cash funds this year end 4,473 - - 4,473 4,485
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06/07/2023
CCXX R1 accounts (SS)
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Section B Statement of assets and liabilities at the end of the period
| Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B4 Assets retained for the charity’s own use B3 Investment assets B2 Other monetary assets B1 Cash funds |
Signature Details Details Details Details Current account Deposit account Total cash funds (agree balances with receipts and payments account(s)) Details Rayhan Davis |
Unrestricted funds Restricted funds to nearest £ to nearest £ 4,473 - - - - - 4,473 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) - - - - - Print Name Rayhan Davis |
Endowment funds to nearest £ - - - |
|---|---|---|---|
| - | |||
| OK | |||
| Endowment funds to nearest £ - - - - - - Current value (optional) - - - - - Current value (optional) - - - - - - - - - When due (optional) Date of approval 13 Jul 2023 |
06/07/2023
CCXX R2 accounts (SS)
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Trustees’ Annual Report for the period
From 01/01/2022 Period start date To Period end date
31/21/2022
Charity name: MaxEm Trust
Charity registration number: 1172867
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The objects of the charity are for the public benefit: 1. to advance education; and 2. to help young people advance in life through providing support to develop their skills, capacities and capabilities to enable them to meet their needs and participate fully in society; in particular, but without limitation, among those who by virtue of any kind of social disadvantage may have reduced prospects of entering and flourishing in higher education and beyond. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The charity assists young people who are socially disadvantaged by providing them with :- Mentoring and guidance from a select group of individuals (volunteers), primarily from the business sector, to help equip them with the skills, competence and confidence to thrive at university, and eventually to enter and thrive in their chosen field after graduating; Financial assistance if relevant to help remove practical barriers to studying at higher education institutions. The benefits of the organisation, which are closely linked, are: 1. Giving individuals from disadvantaged backgrounds the chance to access higher education, so that lack of social confidence, or lack of resources or support do not form barriers to effectively completing higher study and pursuing successful careers, and so that these individuals are not at a relative disadvantage to those |
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| from more advantaged backgrounds. 2. By virtue of (1) above, bringing about greater equality, diversity and social mobility in higher education – and, ultimately, in the professional and business sectors which the beneficiaries will enter after their education. The benefits of diversity to educational institutions, workplaces and society as a whole are widely acknowledged. |
||
|---|---|---|
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees confirm that they have had regard to the guidance issued by the Charity Commission on public benefit. |
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other
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Achievements and Performance
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SORP reference
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| Achievements and Performance | Achievements and Performance | Achievements and Performance |
|---|---|---|
| SORP reference | ||
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | Since the inception of the Promentor Programme, the University’s Careers Service has played an integral part helping students from low income backgrounds access alumni mentoring opportunities and internships, as well as careers support more generally. In the past year, • 11 first year students recruited onto the programme each matched with 3 mentors • 19 applications were received, 16 students interviewed • 33 new mentors were recruited to the programme Feedback from the programme has been excellent from both mentors and mentees, with 100% of mentors being keen to be considered as a mentor in the future, and 100% of mentors being keen to recommend the programme to colleagues and others. For the mentees 97% would recommend the programme to a fellow student, and 100% would consider being a mentor in the future. Future funding to The University of Oxford includes, £132,650 for three years which equates to £44,217 per annum proposed to be provided to University for the academic year 2022- 23. |
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 |
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Other
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The charity had approximately GBP 4,473 on account at the end of December 2022. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The charity has a small amount of deficit in current year, however expected to continue with surplus in perpetuity. |
| Amount of reserves held | Para 1.22 | The charity had approximately GBP 4,473 on account at the end of December 2022. |
| Reasons for holding zero reserves |
Para 1.22 | Reserves are not required |
| Details of fund materially in deficit |
Para 1.24 | None |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | None |
Additional information (optional) You may choose to include further statements where relevant about:
| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
|---|---|---|
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | |
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | |
| A description of the principal risks facing the charity |
Para 1.46 | |
| Other |
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Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Constitution |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Charitable Incorporated Organisation (CIO) |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Appointed by the Board of Trustees |
Additional information (optional) You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
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Charity name The MaxEm Trust
Other name the charity uses
Registered charity number 1172867
Charity’s principal address 10 Queen Street Place,
London
EC4R 1BE
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Names of the charity trustees who manage the charity
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Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
Rayhan Davis 10 Queen Street Acted for the whole year
Place,
1
London
EC4R 1BE
Katrien Gunst 10 Queen Street Acted for the whole year
Place,
2
London
EC4R 1BE
Frewyeni Kidane University of Oxford Acted for the whole year
Development Office,
3 University Offices,
Wellington Square,
Oxford, OX1 2JD
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– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
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Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Type of | Name | Address |
|---|---|---|
| adviser |
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
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Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date |
Rayhan Davis |
|---|---|
| Rayhan Davis |
|
Chair |
|
13 Jul 2023 |
|
13 Jul 2023 |
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