**Registered number: CE011331 Charity number: 1173842** ## **The Mowgli Trust** **(A Company Limited by Guarantee)** ## **Unaudited** **Trustees' Report and Financial Statements** **For the Year Ended 31 March 2022** ## **The Mowgli Trust** ## **(A Company Limited by Guarantee)** |**Contents**|| |---|---| ||Page| |**Reference and Administrative Details of the Company, its Trustees and Advisers**|1| |**Trustees' Report**|2 - 4| |**Independent Examiner's Report**|5| |**Statement of Financial Activities**|6| |**Balance Sheet**|7| |**Notes to the Financial Statements**|8 - 13| ## **The Mowgli Trust** ## **(A Company Limited by Guarantee)** **Reference and Administrative Details of the Company, its Trustees and Advisers For the Year Ended 31 March 2022** |**Trustees**|N S Katona| |---|---| ||J Lake| ||C White (Resigned 17 January 2022)| ||M Peck| |**Company registered**
**number**
CE011331
**Charity registered number**
1173842
**Registered office**
Mowgli Street Food Ltd
18 Queen Avenue
Castle Street
Liverpool
L2 4TX
**Accountants**
Hurst Accountants Limited
Chartered Accountants
Lancashire Gate
21 Tiviot Dale
Stockport
SK1 1TD
**Bankers**
Santander UK PLC
2 Triton Square
Regent's Place
London
NW1 3AN|| Page 1 ## **The Mowgli Trust (A Company Limited by Guarantee)** **Trustees' Report For the Year Ended 31 March 2022** The Trustees present their annual report together with the financial statements of the Company for the 1 April 2021 to 31 March 2022. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. ## **Objectives and activities** ## **a. Policies and objectives** The charity’s objectives and principal activities are for the benefit of the public generally, both in the United Kingdom and overseas. The objective of the CIO is to advance such charitable purposes (according to the law of England and Wales) as the trustees see fit from time to time, by providing grants and donations, in particular, but not exclusively, to organisations and individuals in England and Wales. The charity meets these objectives by distributing donations largely received from Mowgli Street Food Limited to several institutions. ## **b. Public Benefit** The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting the grant making policy for the year. ## **c. Grant Making Policy** Grants would be considered by the trustees to be made in the areas necessary. Grants are considered by the trustees on a case by case basis. ## **Achievements and performance** ## **a. Main achievements of the Company** The Trust has raised £427k from donations received from Mowgli Street Food since 1 April 2022. The Trust has subsequently been able to support numerous charities across the UK. The charities supported include local charities across Liverpool, Manchester, Birmingham, Oxford, Nottingham, Sheffield, Cardiff, Leicester, Leeds, Cheshire, Cheltenham and London. Page 2 ## **The Mowgli Trust** ## **(A Company Limited by Guarantee)** **Trustees' Report (continued) For the Year Ended 31 March 2022** ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## **b. Reserves policy** It is the policy of the charity to maintain sufficient free reserves to generate sufficient donations to fund their annual grants programme, and to cover the annual management. The trustees consider that the most appropriate level of free reserves in the long term is £5,000. ## **c. Principal risks and uncertainties** The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. ## **d. Financial risk management objectives and policies** Net surplus for the year was £87,692 ( _2021 deficit: £27,031_ ), with retained funds of £107,829 ( _2021: £10,136_ ) at the year end. The Statement of Financial Activities is set out on page 6. ## **e. Plans for Future Periods** The charity will continue to undertake its charitable objectives to provide grants to institutions. ## **Structure, governance and management** ## **a. Constitution** The organisation is a Charitable Incorporated Organisation (CE011331), incorporated on 18 July 2017 and registered as a charity (1173842) on 18 July 2017, however the Charity didn’t become operational until July 2018. The charity is governed by a document of constitution. The day to day running of the charity is managed by the trustees. ## **b. Trustees** The Trustees, who served during the year and to the date of this report were: N S Katona M Peck J Lake C White Page 3 ## **The Mowgli Trust (A Company Limited by Guarantee)** **Trustees' Report (continued) For the Year Ended 31 March 2022** ## **Structure, governance and management (continued)** ## **c. Methods of appointment or election of Trustees** Trustees are appointed by a resolution of the trustees passed at a special meeting. The minimum number of trustees is 3. All trustees are skilled to carry out their responsibilities however if any further training is identified it will be provided. ## **Statement of Trustees' responsibilities** The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) 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 Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by: ## Matthew Peck ................................................ **M Peck** Trustee Date: 14 Dec 2022 Page 4 ## **The Mowgli Trust** ## **(A Company Limited by Guarantee)** **Independent Examiner's Report For the Year Ended 31 March 2022** ## **Independent Examiner's Report to the Trustees of The Mowgli Trust ('the Company')** I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2022. ## **Responsibilities and Basis of Report** As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent Examiner's Statement** Since the Company'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 (enter body here), which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. 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. This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company'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 Company and the Company's Trustees as a body, for my work or for this report. Signed: Mike Jackson **Hurst Accountants Limited** Chartered Accountants Lancashire Gate 21 Tiviot Dale Stockport SK1 1TD 14 Dec 2022 Dated: The Institute of Chartered Accountants in England and Wales Page 5 ## **The Mowgli Trust** ## **(A Company Limited by Guarantee)** ## **Statement of Financial Activities (Incorporating Income and Expenditure Account) For the Year Ended 31 March 2022** |**Note**
**Income from:**
Donations and legacies
4
Investments
5
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2022**
**£**
**426,650**
**-**
**426,650**
**22,208**
**306,749**
**328,957**
**97,693**
**10,136**
**97,693**
**107,829**|**Total**
**funds**
**2022**
**£**
**426,650**
**-**
**426,650**
**22,208**
**306,749**
**328,957**
**97,693**
**10,136**
**97,693**
**107,829**|_Total_
_funds_
_2021_
_£_
_94,424_
_3_| |---|---|---|---| ||||_94,427_
_-_
_121,458_| ||||_121,458_
_(27,031)_
_37,167_
_(27,031)_| ||||_10,136_| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 8 to 13 form part of these financial statements. Page 6 ## **The Mowgli Trust** ## **(A Company Limited by Guarantee) Registered number: CE011331** ## **Balance Sheet As at 31 March 2022** |**Note**
**Current assets**
Debtors
9
Cash at bank and in hand
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
10
Unrestricted funds
10
**Total funds**|**86,583**
**21,246**
**107,829**|**2022**
**£**
**107,829**
**107,829**
**-**
**107,829**
**107,829**|_9,229_
_907_
_10,136_|_2021_
_£_
_10,136_| |---|---|---|---|---| |||||| |||||_10,136_| |||||_-_
_10,136_| |||||| |||||_10,136_| The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: ## Matthew Peck ................................................ **M Peck** Trustee Date: 14 Dec 2022 The notes on pages 8 to 13 form part of these financial statements. Page 7 ## **The Mowgli Trust** ## **(A Company Limited by Guarantee)** ## **Notes to the Financial Statements For the Year Ended 31 March 2022** ## **1. General information** The Mowgli Trust is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The registered office address is Mowgli Street Food Ltd, 18 Queen Avenue, Castle Street, Liverpool, L2 4TX. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Mowgli 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 otherwise stated in the relevant accounting policy. ## **2.2 Going concern** There are no material uncertainties about the entity’s ability to continue, as all grants are only committed when funds are in place, hence the Trustees have adopted the going concern basis in preparing the financial statements. ## **2.3 Income** Donations are credited to the statement of financial activities once the charity has entitlement to the resources, it is certain that the resources will be received, and the monetary value can be measured with sufficient reliability. 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 bank. ## **2.4 Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual’s basis, inclusive of any VAT which cannot be recovered. Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Charity. Grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Charity. Governance costs are related to the governance of the charity, such as trustees’ expenses and independent examination fees.. Page 8 ## **The Mowgli Trust** ## **(A Company Limited by Guarantee)** ## **Notes to the Financial Statements For the Year Ended 31 March 2022** ## **2. Accounting policies (continued)** ## **2.4 Expenditure (continued)** Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. ## **2.5 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **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 date 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 settlement can be estimated reliably. ## **2.8 Financial instruments** The Company 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2.9 Fund accounting** Funds held by the charity are either: - Unrestricted funds which can be used in accordance with the charitable objectives at the discretion of the trustees; - Restricted funds which can only be used for a particular restricted purpose within the charitable objectives. Investment income, gains and losses are allocated to the appropriate fund. ## **3. Critical accounting estimates and areas of judgment** The trustees believe that estimates and assumptions do not have a significant risk of causing a material difference to the carrying amounts of assets and liabilities within the next financial year. Page 9 ## **The Mowgli Trust** ## **(A Company Limited by Guarantee)** ## **Notes to the Financial Statements For the Year Ended 31 March 2022** |**4.**
**Income from donations and legacies**
Donations
Donations
**5.**
**Investment income**
Investment income
Investment income|**Unrestricted**
**funds**
**2022**
**£**
426,650
_Unrestricted_
_funds_
_2021_
_£_
_94,424_
_Unrestricted_
_funds_
_2021_
_£_
_3_|**Total**
**funds**
**2022**
**£**
**426,650**| |---|---|---| |||_Total_
_funds_
_2021_
_£_
_94,424_| |||**Total**
**funds**
**2022**
**£**
**-**| |||_Total_
_funds_
_2021_
_£_
_3_| Page 10 ## **The Mowgli Trust** ## **(A Company Limited by Guarantee)** ## **Notes to the Financial Statements For the Year Ended 31 March 2022** ## **6. Analysis of expenditure by activities** |Other costs
Other costs|**Governance**
**costs**
**2022**
**£**
2,318
_Governance_
_costs_
_2021_
_£_
_160_|**Grants and**
**donations**
**paid**
**2022**
**£**
304,431
_Grants and_
_donations_
_paid_
_2021_
_£_
_121,298_|**Total**
**funds**
**2022**
**£**
**306,749**| |---|---|---|---| ||||_Total_
_funds_
_2021_
_£_
_121,458_| ## **7. Independent examiner's remuneration** The independent examiner's remuneration amounts to an independent examiner fee of £1,800 ( _2021_ - _£1,800_ ). ## **8. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2021 - £NIL)_ . During the year ended 31 March 2022, no Trustee expenses have been incurred _(2021 - £NIL)_ . ## **9. Debtors** ||**2022**|_2021_| |---|---|---| ||**£**|_£_| |Prepayments and accrued income|**86,583**|_9,229_| Page 11 ## **The Mowgli Trust** ## **(A Company Limited by Guarantee)** ## **Notes to the Financial Statements For the Year Ended 31 March 2022** ## **10. Statement of funds** |**Statement of funds - current year**
**Unrestricted funds**
General Funds - all funds
**Statement of funds - prior year**
**Unrestricted funds**
Unrestricted funds|**Balance at 1**
**April 2021**
**£**
**10,136**
_Balance at_
_1 April 2020_
_£_
_37,167_|**Income**
**£**
**426,650**
_Income_
_£_
_94,427_|**Expenditure**
**£**
**(328,957)**
_Expenditure_
_£_
_(121,458)_|**Balance at 31**
**March 2022**
**£**
**107,829**| |---|---|---|---|---| |||||_Balance at_
_31 March_
_2021_
_£_
_10,136_| Page 12 ## **The Mowgli Trust** ## **(A Company Limited by Guarantee)** ## **Notes to the Financial Statements For the Year Ended 31 March 2022** ## **11. Analysis of net assets between funds** |**Analysis of net assets between funds - current year**
Current assets
**Analysis of net assets between funds - prior year**
Current assets|**Unrestricted**
**funds**
**2022**
**£**
107,829
_Unrestricted_
_funds_
_2021_
_£_
_10,136_|**Total**
**funds**
**2022**
**£**
**107,829**| |---|---|---| |||_Total_
_funds_
_2021_
_£_
_10,136_| ## **12. Related party transactions** Mrs N S Katona is a director of Mowgli Street Food Limited. During the year the charity recevied donations from Mowgli Street Food Limited of £304,193 ( _2021: £114,080_ ). An amount of the £86,582 ( _2021: £9,229_ ) was outstanding at the year and is included within other debtors. Page 13 ## **Issuer** HURST Accountants **Document generated** Tue, 13th Dec 2022 18:02:50 UTC **Document fingerprint** 16001bab7dee2af33047ee42b5084714 ## **Parties involved with this document** ## **Document processed** ## **Party + Fingerprint** Wed, 14th Dec 2022 12:18:31 UTC Wed, 14th Dec 2022 16:10:11 UTC Wed, 14th Dec 2022 16:10:11 UTC Wed, 14th Dec 2022 16:10:11 UTC Matthew Peck - Signer (18775db7cbbc194b934e03444a3908d8) Mike Jackson - Signer (8fdd7788e1977b434fad4a15c885ef02) Katherine Kelly - Copied In (f2f5e9b21a8bbba60816588a7de9b24d) Joanne flynn - Copied In (c3a57aed2299d76dc6f89823e70e9b78) ## **Audit history log** ## **Date** ## **Action** Wed, 14th Dec 2022 16:10:13 UTC Wed, 14th Dec 2022 16:10:11 UTC Wed, 14th Dec 2022 16:10:11 UTC Wed, 14th Dec 2022 16:10:11 UTC Wed, 14th Dec 2022 16:10:11 UTC Wed, 14th Dec 2022 16:07:45 UTC Wed, 14th Dec 2022 15:20:33 UTC Wed, 14th Dec 2022 15:08:16 UTC Wed, 14th Dec 2022 15:08:16 UTC Wed, 14th Dec 2022 12:19:13 UTC Wed, 14th Dec 2022 12:18:33 UTC Wed, 14th Dec 2022 12:18:33 UTC Wed, 14th Dec 2022 12:18:31 UTC Wed, 14th Dec 2022 12:18:31 UTC Wed, 14th Dec 2022 12:18:07 UTC Document emailed to katherine@mowglistreetfood.com (35.179.93.113) The envelope has been signed by all parties. (86.169.213.200) Sent a copy of the envelope to Joanne flynn (joanne.flynn@hurst.co.uk). (86.169.213.200) Sent a copy of the envelope to Katherine Kelly (katherine@mowglistreetfood.com). (86.169.213.200) Mike Jackson signed the envelope. (86.169.213.200) Mike Jackson viewed the envelope. (86.169.213.200) Matthew Peck opened the document email. (62.253.28.185) Mike Jackson opened the document email. (185.69.145.49) Mike Jackson opened the document email. (185.69.145.49) Mike Jackson opened the document email. (104.47.20.254) Matthew Peck viewed the envelope. (62.253.28.185) Document emailed to mike.jackson@hurst.co.uk (35.176.207.199) Sent the envelope to Mike Jackson (mike.jackson@hurst.co.uk) for signing. (62.253.28.185) Matthew Peck signed the envelope. (62.253.28.185) Matthew Peck viewed the envelope. (62.253.28.185) Wed, 14th Dec 2022 11:12:57 UTC Wed, 14th Dec 2022 11:11:32 UTC Tue, 13th Dec 2022 18:15:54 UTC Tue, 13th Dec 2022 18:05:45 UTC Tue, 13th Dec 2022 18:05:43 UTC Tue, 13th Dec 2022 18:05:10 UTC Tue, 13th Dec 2022 18:05:10 UTC Tue, 13th Dec 2022 18:05:10 UTC Tue, 13th Dec 2022 18:05:10 UTC Tue, 13th Dec 2022 18:04:38 UTC Tue, 13th Dec 2022 18:02:50 UTC Matthew Peck opened the document email. (62.253.28.185) Matthew Peck opened the document email. (62.253.28.185) Matthew Peck opened the document email. (104.28.89.71) Document emailed to matthew@mowglistreetfood.com (35.178.182.234) Sent the envelope to Matthew Peck (matthew@mowglistreetfood.com) for signing. (80.192.23.32) Joanne flynn has been assigned to this envelope (80.192.23.32) Katherine Kelly has been assigned to this envelope (80.192.23.32) Mike Jackson has been assigned to this envelope (80.192.23.32) Matthew Peck has been assigned to this envelope (80.192.23.32) Document generated with fingerprint 16001bab7dee2af33047ee42b5084714 (80.192.23.32) Envelope generated by Katie Waud (80.192.23.32)