Charity number: 1177988 MERCER FAMILY CHARITABLE FOUNDATION UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 WR Partners Protecling your future.
MERCER FAMILY CHARITABLE FOUNDATION CONTENTS Page Referenee and adminlstrative details of tha Charity, its Trustees and advisers Trust8es' report Independent examinerfs report statement of financlal activitles Balance sheet Notes to the financial statements 9-15
MERCER FAMILY CHARITABLE FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Trustees Roger Mallaber Mereer, Chair Kathryn Julie Mer¢er Henriella Tasmin Mercer Robert Percy Merr Sally Louise Merr Ale¢ Roger Mercer Phillipa Jane Mercer Thomas Alexander Mercer Charity registered number 1177988 Principal offlce Blakenhall Park Barton Under Needwood Burton on Trent DE13 8AJ Accountants WR Partners Chartered A¢¢ountanls Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Page 1
MERCER FAMILY CHARITABLE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022 The Trustees present their annual report together with the financial statements of the Charity for the 1 October 202110 30 September 2022. ObSectiv8s and activities Pollcles and objectives MercÈr Family Charitable Foundation Iformerly known as The Mercer Charitable Foundalionl seeks lo assist the Charitable activities of organisalions and individuals for such charitable purposes for the public benefit as are exclusively charitable according to the laws of England and Wales as the trustees may from lime ID lime deleTmine. In selling objectives and planning for activities, the Trustees have given due consideration lo gener81 guidance published by the Charily Cornmission relating to public benefil, including the guldance 'Public benefit.. running 8 charty IPB21'. b. Strategies for achievlrtg oblectives Mercer Family Charitable Foundation supports activities 8nd inilialives run by organisations including charities and community groups- that deliver benèfit in one or more of the following qualifying categories.. Educallon.. support of educational opportunities and initiatives particularfy in the field of faTming. agriculture and food. Healthcare.. benefit of health and relief of sickness or suffering particularly in respect of ¢hildren and adults suffering from incurable illnesses. Community.. support for cornmunily facilities in Slaffordshire le.g. community spaces and 8cliviliesl with the aim of improving the lives of local people with particular need due 10 8ge, ill-heallh, disability. homelessness, tinancial hardship or other disadv8nlages. International.. support for mMunIty projects in Ghana wth the aim of irnproving the lives of local people through education, healthcare, and kindergarten facilities. c. Grant-making policies Any 8pplication for funding rnusl fil within one or more of the 8bove qualifwng categories. 11 must be noted that consideration by the trustees, does not guarantee provision of grant funding. The trustees are agreeable lo working in partnership with other grant making bodies where funding for a project is bèyond the scope of any single organisalion Page 2
MERCER FAMILY CHARITABLE FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 Achlevemgnls and performance a. Main achievements of the Charity The Foundation conllnued lo support a range of charities a¢ross the previously established areas of al Education 1300/0 of donalionsl bl Healthcare 123Q/o of donalionsl and cl Community 147VA of donalionsl. 'Ctsmmunil includes food poverty, homelessness, inclusion for disabled children. and village projects in Ghana. The Foundation continues lo learn from and evaluate the soclors il supports. Financial review a. Going concern After making appropriate enquiriès, the Trustees have a reasonable expectation that the Charity has adequate iesources lo continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial slatemenls. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves polley Reserves 8130 S8plember 2022 amounled lo £487,447 {2021.. £495,847>. The Trustees aim lo hold between one and two years, funds in reserv6. This Currently equates lo between £220,000 and £440,000. The free reserves are made up of unreslricled funds which are the lolal nel assets ol the charity. The charity rnade a loss of -£8.400 during the year12021' £16,576 surplusl. Structure* governance and management Constltutlon MeOr Family Charitable Foundation is a Charitable Incorporat Organisalion, number 1177988, and is consliluled under a Trust deed. 11 is regislared with the Charity C(4nmission (England & Walesl. b. Methods of appolntmènt or election of Trustees The managemenl of the eharily is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Every trustee musl be appointed for a term of three years by resolution passed al a properly convoned meeting of the charity Iruslees. The eharily trustees must have regard lo the skills. kNOedge and experience needed for effective administration of the CIO. The trustees are currently all members of the Mercer family. c. Organisational structure and declslon-making pollcies Any decision m2y be taken either at a meeting of the charity Iwslees, or by resolution in writing or electronic form agreed by a Imajorily of all charity trustees, which may comprise either a single document or several docurnents containing the text of the ¥esolulion in like form ta each ol which one or more charily Iruslees has signified their agreement Page 3
MERCER FAMILY CHARITABLE FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 Structure, governance and management Icontinuedl d. Financial risk management The Trustees have assessed the major risks to which the Charity is exposod, in particular those related lo the operations and financès of the Charity. and are satisfied that syslems and procedures are in place to mitigate exposure lo the major risks. Statèment of Trustees. responslbililles The Trustees are responsible for preparing the Trustees, report and the financial slalemenls in accordance with applicatrjle law and United Kingdom Aecounling Standards Iuniled Kingdom Generally Accepted Accounting Pr8clicel. The law applicable lo charities in England & Wa5es requires the Trustees lo prepare financial statements for each financial which give a true and fair view of the slate of affairs of the Charity and of ils incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial statements, the Trustees are required lo.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles of the Charities SORP IFRS 102); make judgments and accounting eslimatos that are reasonable and prudent: slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any rllaleria departures disclosed and explained in the financial stalemenls., prepare the financial statements on the gDing concern basis ut)less it is inapproprtale lo presume that the Charity will wntinue in business. The Trustees are responsible for keeping adequate accounling records that are sufficient lo show and explain the Charitys transactions and disclose with reasonable accuracy al any lime the financial position of the Charity and enable Ihein lo ensijre th81 the financial statements comply with the Charities Act 2011, the Charity IAccounls 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 d61eclion of fraud arid other FrgUlarIties. Approved by order of the membèrs of the board of Trusteas and signed on their behalf by.. Robèrt Pèrcy Mercer {Trusleel Date.. 2110212023 Page 4
MERCER FAMILY CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022 Independent Examiner's Report to the Trust88s of Mercer Famlly Charitable Foundation I'the Charity'l I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 30 September 2Q22. Respon$ibllities and 8asls of Report As the Trustees of the Charity you are responsible for the preparation of the sccounls in accordance with the requirements of the Charities Act 2011 I'lhe 2011 Act'i. I report in respect of my examination of the Charity's accounts Carried out under section 145 of the 2011 Act and in rryIng out my examination I have followed the applicable Directions given by the Charity Commission tjnder section 14515llbl of the 2011 Act. Page 5
MERCER FAMILY CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 Independent Examinèr's Statemènt Since the Charl5 gross income exceeded £250,000 your examiner myst be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of FCCA, which is one of Ihe listed bodies. Your allenlion is drawn lo the fact that the Charity has prepared the accounts in accordance with Accounting an Reporting by Charities.. Statement of Recommended Practice applicable lo charities prepaTing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities- Statement of Recommended Practi issued on 1 April 2005 which is referred to in the exlanl regulations but has been withdrawn. l understand Ihal this has been done in order for the accounts to provide a true and fair wew in aocordance wlh the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed rny examination. I confirm that no matters have come lo my allenlion in connection with thè examination givino me cause lo believe that in any material respect". accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or the accounts do not accord with those r8¢ords', or the accounts do not comply with the applicable requirements concerning the form and content ol accounts sel out in the Ch8rilies (Accounts and Reports) Regulations 2008 other than any requirement that the 8ccounts give a Yrue 2nd fair. view which is not a matter considered as part of an independent examination. I have no COnrnS and have come across no other mallers in connection with the examination lo which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. This report is made solely lo the Charity's TrLJStees, as a body, in accoTdanGe with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale to the Charity's Trustees those mallers l am required lo stale lo them in an Independent examiner's report and for no other purpose. To Ihe fullest extenl permitted by law, I do not accepl or assume responsibility lo anyone other than the Charity and the Charills Trustees as a body, lor my work or for this Teport. Signed.. Dated. 1610312023 T Lunt BA FCCA MIRPM WR Partners Shrewsbury Business Park Shrewsbvry Shropshire SY2 6LG Page 6
MERCER FAMILY CHARITABLE FOUNDATION STATEWJENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022 Unrestricted funds 2022 Total funds 2022 Tolal funds 2021 Note Income from: Donations and legacies 277,376 277,376 267.350 Total income 277,376 277,376 267,350 Expenditure on: Charitable activities 285.776 285,776 250, 774 Totsl expenditure 285,776 285,776 250, 774 Net movement In funds 8,4001 18.4001 16,576 Reconclliation of funds- T()lal funds brought forward 495,847 495,847 479.271 Total funds carried forward 487.447 487,447 495,847 The Stalemenl of Financial Activities includes all gains and losses recognised in the year. The notes on pages 9 10 15 form part ofthese financial ststements. P8ge 7
MERCER FAMILY CHARITABLE FOUNDATION BALANCE SHEET AS AT 30 SEPTEMBER 2022 2022 2021 Note Fixed assets Current assets Cash at bank and in hand 489,055 497.271 489,055 497,271 Credrtors.. 8moLtnls falling due wtlhin on& 11,6081 (1,424) Nel current assets 487,447 495,847 Total assets less current liabilitles 487,447 495,847 Totsl net ass¢ts 487,447 495,847 Charlty funds Reslrlcled funds Unreslricled funds 487,447 495,847 Total funds 487,447 495,847 The financial Slalernents wére appToved anc¢ aulhorised for issue by the Trustees and signed on their behalf by.. RoE)ert Percy Morcer Date.. 2110212023 The notes on pages 9 10 15 fomi part of these financial stalemenls. Page 8
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 General information The Mercer Charitable Foundation is a Charitable Incofporaled Organisalion registered 17 April 2018. The Mercer Family Charitable Foundation supports activities and init181ives run by organisalions including Charities and community groups that dèliver benefit in one or more of the following categories., Education, Healthcare, Community. Accounting policSes 2.1 Basis of preparatlon of financial statements The financial statements have been prepared in accordance w71h the Ch8rilies SORP IFRS 102) Accountin9 and Reporting by Charities.. Statement of Recommended Practice applicable lo chaTilies preparing their accounts in accordance with the Financial Reporting SlandaTd applicable in the UK and Republic of Ireland IFRS 1021 leffe¢livé 1 January 2019), the Financial Reporting Standard appli¢8ble in the UK and Republic of Ireland {FRS 102) and the Charities Act 2011. The financial statements have been prepared lo give a 'tr(Je alld fair. view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required lo provide 8 'lrue and f8irf view. This departure has involved following the Ch8rities SORP IFRS 1021 published i October 2019 rather than the Accourrting and Reporting by Charities.. Slalemenl of Recommended Practice effective from 1 April 2005 which has Sin been withdrawn. Mercer Family Charitable Foundation meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recogni8¢d 91 historical cost or transaction value unless olheN4isè slated in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has entillemenl to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. 2.3 Expenditure Expenditure is recognised Once there is 3 legal or constructive obligation lo transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in sellSement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. Expenditure on charitable aclivilie5 is incurred on directly undertaking the a¢livilies which further the Charity's objectives, as well as any associated support costs. Grants payable are ch8rged in the year when the offer is made except in those cases where the offer is conditional. such giants being recognised as expenditure when the conditions attachin9 are fulfilled. Grants offered subject lo conditions which have not been met at the yèar end are noted as a Gommitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. Page 9
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Accountlng policies Icontinuedl 2.4 Interest r8celvable Interest on funds held on deposit is included when reIvable and the amDunl can b8 measured reliably by the Charity., this is normally upon nolificalion of the inler&st paid or payable by the institution with whom Ihe funds are deposited. 2.5 Cash at bank and In hand Cash al bank ancl in hand includes cash and short-terrn highly liquid investments with a short malurty of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.6 Liabilities and provisions Liabililios are recognised when there is an obligation al the Balance sheet dale as a result of a past event, il is probable that a transfer of economic beneftl will be required in selllemenl, and the amount of the selllemenl can be estimated reliably. Liabilities are recognised al the amount that the Charity anlicipales il will pay lo sellle the debt or the amounl il has received as advanced payments for the goods or services it must provide. Provisions are measured al the best estimate of the arnounls required lo sellle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discoun16d al the pre-tax discount rale thal reflects the risks specifi¢ lo the liability. The unwinding of the discount is recffjnised in the Slalemenl of financial aclimlies as a finance ¢osl. 2.7 Flnancial instruments The Chaiily only has financial assets and financial liabiifcies of a kind that qualify as basi¢ financial inslrumenls. Basic financial inslrurnenls are initially rewgnised al transaction value and subsequently measured al their sèlllemenl value with the exception of bank loans which 8re subsequently measured al amortised cost using the effective interest method. 2.8 Fund accounting General funds are unreslricled funds which are available for use al thé discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Page10
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Income from donatlons and legacies Unrestricted fund5 2022 Total funds 2022 Total funds 2021 Donations 277,376 277,376 261,350 Tolal 2021 267,350 267,350 AnalysSs of expenditure on Charitable activitles Summary by fund type UnrestYScted funds 2022 Total 2022 Total 2021 Independent examination Bank Charges Grants paid Professional fees 1.606 1,606 15 284,156 1,423 28 284,155 249,023 300 285,776 285,776 250, 774 Total 2021 250, T74 250, 774 Page 11
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Analysis of expendituro by actlvities Actlvities undertaken directly 2022 Support costs 2022 Total funds 2022 Total funds 2021 Independent Examination Bank Charges Grants lo Inslitullons Professional Fees 1,6( 1,606 1,423 28 249.023 300 284,155 284,155 284,155 1.821 285.776 250, 774 Total 2021 249,023 1,751 250, 174 Grants to InstStutlons 2022 2021 Farm Fresh Rainbows FCN Village by Village Nuffield International Liberty Liberty Sl Giles Farmers Company Just Farmers HarperAdams Chrons & Colitis E)ream Holidays Period Power cle R Cycle Grants to Other Inslil(Jlions 25,000 25,000 60,000 50,000 20,000 20,000 18,023 15,000 12,000 10,000 10,000 20,000 21,155 15,000 12.000 10.000 35,000 6,000 5,000 5.000 5,000 3,000 70,000 105,000 284,155 249,023 Page 12
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Independent examinerfs remuneration 2022 2021 Fees payable lo the ChaTiVs independenl examiner for the independent examination of the Charity's annual accounts 1,608 1.423 Trusteos. remuneratlon and expenses During the year, no Trustees received 3ny remuneration or other benefits (2021 £NILI. During Ihtr year ended 30 September 2022, no Trustee expenses have beén incurred (2021- £NIL). Creditors.. Amounts falling due within one year 2022 2021 Aeeruals 1,608 1.424 Page13
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 10. Statement of funds Statement of funds- current year Balance at 30 September 2022 Balance at 1 October 2021 Income Expenditure Unrestricted funds General Funds- all funds 495.847 277.376 {285,7761 487,447 Statement of funds - prior year Balance 81 30 S6plember 2021 B21ance at l October 2020 InconF8 Expendilu Unrestricled funds General Funds- all funds 479,211 267,350 (250, 774J 495, 847 11. Summary offunds Summary offunds-currentyear Balance at 30 September 2022 Balance at 1 October 2021 Income Expenditure General funds 495,847 277.376 1285,7761 487,447 Summary offunds- prioryear Ba18nce al 30 September 2021 B818nce al l October 2020 Income Expendilute General funds 479.211 267,350 (250, 774) 495, 847 Page 14
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Analysis of net assets between funds Allalysis of net assets between funds - current year Unrestrl¢ted funds 2022 Total funds 2022 Current assets Credrtors due within one year 489,055 (1,6081 489.055 11.6081 Total 487,447 487,447 Analysis of net assets between funds - prior year Llnreslncled funds 2021 Tot81 funds 202f Current assets Creditors due within one year 49T,271 (1,424) 497.271 {1,424J Total 495,847 495,84T 13. Related party tran5actlons Ouring the yèar ending 30 S8plember 2022.. S8lly Mercer and Rob Mercer (Trustees) are Trustees of Farm Fresh Revolution to which a grant was given of £25,QOO. Donation8 were received from.. Mercer farming Ltd - £69,300 - Alec Mercer and Roger Mer (Trustees) are directors of the company. - Tom Mercer Limited - £22,700- Tom Mercer and Roger Mefcer (Trusleesl are current directors.. M & RM Inveslment8- £1 $,500- Sally Mercer and Rob Mercer (Frusteesl are Current directors. -Packinglon Free Range- £119,000- Alec Merr and Rob Mercer (Trusleesl ara current directors. -Merr Farm Partners - £42,600- Alec Mercer and Tom Meroer ITruslees) are current directors. There are no balances outstanding. Page 15