Charity number: 1177988 MERCER FAMILY CHARITABLE FOUNDATION UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 WR Partners Protecting your future.
MERCER FAMILY CHARITABLE FOUNDATION CONTENTS Page Reference and admlnlstrative details of the Charity> its Trustèès and advisers Trustees, report Independent examlner's report Stalement of finan¢lal activities 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 2024 Trustees Roger Mallaber Mercer, Chair Kathryn Julie Mercer Henriella Tamsin Mercer Robert Percy Mercer Sally Louise Mercer Atec Roger Mercer Philipa Jane Mercer Thomas Alexander Mercer Charity registered numb8r 1177988 Principal office Blakenhall Park Barton Under Ne&dwcM)d Burton on Trent DE13 8AJ Accountants WR Partners Chartered AccoLsnl8nts Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Page 1
MERCER FAMILY CHARITABLE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Trustees present their annual report together with the fin8n¢ial statements of the Charity for the year from 1 October 2023 10 30 September 2024. Objectives and activities a. Policies and objectives Mercer Famiiy Charitak)le Foundation {fDrmerly known as The Mercer Charitable Foundalionl seeks to 88sisI 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 Iruslees may from lime lo lime delemine In selling objectives and planning for aclivilies, the Trustees have given due COnseration lo general guidance published by the Charity Commission iel8ting to public benefit, including the guidance 'Publlc benefit.. running a charity IPB21'. b. Slrategles for achieving objectives Mercer Family Charitable Foundglion supports aGlivilies and inilialives Tun by organisalions - including charities and community groups- that deliver b@nefit in one or more of the following qualifying categories.. Education.. support of educational opportunities and initiatives p8rt1cularly in the field of famiing, agriculture and food. Heallhc8re.' benefit of heafth and relief of sickness or suffertng particularly in respect of childr8n and adults suffering frorn incurable illnesses. Community.. support for community facilities in Slaffordshire la.g. c(mmunity spaces and acliviliesl with the aim of improving the lives of local people with particular need due lo age, ill-health. disability, homelessness, financial hardship or other disadvantages. International.. support for community projects in Ghana with the aim of improving the lives of local peopl& through eduealion, healthcare, and kinder9arteM facilities. Grant-making poli¢ie$ Any application for funding musl fil within one or more of the above qualrfying categoriès. It must be noted that consideration by the Trustees, does not guarantee provision of gr8nl funding. The Trustees are agreeable lo working in partnership with other grant making bodies where funLting for a project is beyond the scope of any single organisation Achièvements and performance a. Maln achlevements of the Charity The Foundation continued lo support a range of charities across the previousty established are8s of al Education {30'/a of donalionsl bl Healthcare 123°/o of donalionsl and cl Community 1470A ol donalionsl, 'Communily' includes food poverty, homÈlessness, inclusion for disabled children, and village projects in Ghana. The Foundation continues to learn from and evaluate the sectors il supports. Page 2
MERCER FAMILY CHARITABLE FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Financial review a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resource5 to Gonlinue in operational existènce for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial slalemenls. Further details r6garding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy Resenjes al 30 September 2024 amounted lo £467.785 {2023'. £453,086). The Trustees aim lo holtl two years, funds in reserve. This currently equates lo £400,000. The free reserves are made up of unrestricted funds which are the total nÈl assets of the Charity. The Charity made a surplus of £14,699 during the year12023'. £-24,361 deficill. Structure, governan¢e and management Constltutlon hhercer Fami5y Charitable Foundation is a Charitable Incorporated Organisalion. number 1177988. and is consliluled under a Trust deed. 11 is registeTed with th6 Charity Cornmission IEngland & Wales), b. Methods of appointmant or election of Trustees The management of the Charity 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 lem) of three years by resolution passed at a property convened meeting of the ¢harity trustees. The charity trustees must have regard lo the skills, knowledge and experience needed for effective adminislralion of the CIO. The Trustees are tturrenlty all members of the Mercer family. Organlsational strLFCture alld declsion-making pollcles Any decisiorl may be taken either at a meeting of the Charity TTuslees, or by resolution in writing or electronic form agreed by a majority of all charity trustees, which may comprise either 8 single document or several documents containing the text of the resolution in like form lo each of which one or more charity Iruslees has sigriified their agreement. d. Flnancial risk management The Trustees have assessed the major Tisks lo which the Charity is exposèd. in particular those related lo the operations 8nd finances of the Charity, ané are satisfied that systems and procedurtts are in place lo miligale exposure lo the major risks. Page 3
MERCER FAMILY CHARITABLE FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice). The law applicable lo charities in England & Wales requires the Trustees to prepare financial slalements for each financial which give a true and fair view of the slate ol affairs of the Charity and of ils incoming resources and application of rgsouices, including ils Income and expenditure, for that period. In preparing these finanGial 51alemenls, the Trustees are required to.. select suilable accounting F>Dlicies and then appb/ them Gonsislenlly., obseNe the methods and principles of the Charities SORP (FRS 102).. make judgments and accounting eslimales that are reasonable and prudent., slal¢ whether applicable UK Accounting Siandards IFRS 102} have been followed, subject lo any material (fepartures disclosed and explained in the financial slalemenls.. prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequatè accounting records that are sufficieftl lo shcm and explain the Charills Ir8nsaclions and disclose wlh reasonable accuracy al any time the financial position of the Charity and enable them lo ensure that the financial Statements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the TrL(sl deed. They arts also responsible for safeguarding the assets of tho Charity and hence for taking reasonable steps for the prèvention and dete¢tion of fraud and other irreoularilies. Approved by order of the members of the board of Trustees and signed on their behalf by: Roger (Trusleel laber Mercer D8te'. Page 4
MERCER FAMILY CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Independent Examlnerfs Report to the Trustees of M6rcer Family Charitable Foundatlon 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 2024. Responsibilities and Basls of Rèport As the Trustees ol the Charity you are responsible for the preparation of the accounts in accordance with the reqijirements of the Charities Act 2011 I'lhe 2Q11 Act,). I report in respect of my examination of the Charills accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145151(bl of the 2011 Act. Page 5
MERCER FAMILY CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Independent Examiner's Ststement sin the Charills gross income exceeded £250,000 yOLJr examiner musl be a member of a body listed in section 145 of the 2011 Act. l confirm that l am qualified to undertake the examination because l am a MeMkr of lenler body here), which is one of the listed bodies. Your attention is drawn to the fact Ihal the Charity has prepared the accOnIS in accordance with Accounting and Reporting by Charities." Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the FirTrancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference lo the Accounting and Reporting by Charitl8s'. Slalemenl of Recommended Practi issued on 1 April 20Q5 which is referred lo in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted A¢¢ounling Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no mallers have come lo my allenlion in connection with the examination giving me cause lo believe that in any material respect.. a¢counling 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 records., or the accounts do nol comply wth the applicable requirements ¢oncerning the forrn and content of accovnts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the 8ccounls give a 'true and fairf view which is not a maller considered as part of an independent examination. I have no concerns And have come across no olheT mallers in connection wlh the examin81ion lo which allentson should be drawn in this report in order to enable a proper understanding of th6 accounts to be reached. This r&port is made solely to the Charitls Trustees, as a body, in accordance with Part 4 of the Charities IAGGounls anL4 Reports) Regulations 2008. My work has boen undertaken so that I might slate lo the Charills Trustees those rratlers l am required lo slate lo them in an Independent examinerfs report and for no other purpos6. To the fullest exlenl permitted by law, I do not accept or 8SSUMe responsibility lo anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed-. Dated.. 1310312025 T Lunt BA IHonsl FCCA MTPI WR Partners Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Page 6
MERCER FAMILY CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Investments 281,738 5.165 281,738 5,165 199, 889 296 Total income 286,903 286,903 200, 185 Expenditure on: Charitable activities 272,204 272,204 234,546 Total expandilure 272,204 272,204 234,546 Net movement in funds 14,699 14,699 (34,361) Reconclllation of fund5: Total funds brought foNard Nel movement in funds 453,086 14,699 453,086 14,699 487,447 (34,361) Total funds carrled foEward 467,785 467,785 453,086 The Stslemenl of Financial Activities includes all gains and108ses recognised in the year. The notes on pages g 10 15 form part of Ihese linancial slat@m6nls. Page 7
MERCER FAMILY CHARITABLE FOUNDATION BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Note Fixed assets Current assets Cash al bank and in han(1 475.771 454,814 475.771 454.814 Creditors.. amounts falling due within one year 17,9861 11, 728) Net current assèts 467,785 453,086 Total assets less current Ilabilities 467,785 453,086 Total net assets 467,785 453,086 Charlty funds Reslricled funds Unreslricled funds 10 10 467.785 453,086 Total funds 467,785 453,088 The financial slalemenls were approved and aulhorised for issue by the Trustees and signed on their behaK by.. Rog ITrusteel allaber Meycer Dale,. 2>7a/x5 The notes on pages 9 to 15 form part of these financial slalements. Page 8
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 General information The Mercer Charitable Foundation is 8 Charitable Incorporated Organisalion registered 17 April 2018. The Mercer Family Charitable Foundation supports activities and inilialives run by organisalions including charities and community groups that deliver benefit in one or more of the following categories., Education. Healthcare, Community. Accountlng policies 2.1 Basis of preparation of financlal statomgnts The financial stattsments hav8 been prepared in accordance with the Charities SORP (FRS 1021 Accounting and Reporting by Charities.. Slalemenl ol Re¢ommended Practice applicable lo ¢harilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ire18nd IFRS 1021 (effective 1 January 20191, the Financial Reportin9 Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Charities Act 2011. The financial slalemenls have been p¥epared lo give a 'lrue and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent requir8d lo provide a 'ltue and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Ac¢ounling and Reporting by Charities.. Slalemenl of ReGommended Practice effective from 1 ApTiI 2005 whi¢h has since been withdrawn. Mercer Family Charitable Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical co81 or transaction value unless otherwise staled in the relevant accounting policy. 2.2 Income All income is recognised onse the Charity has entitlement lo the Income, il is probable that the income will be received and the amount of Income receivable can be measured reliably. Income lax recoverable in relation lo investm8nl income is recognised al the lime the investment income is re1vable. Page 9
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting polici8s Icontinuedl 2.3 Expenditure ExpendilLsre is recognised once there is a legal or conslruclive obligation lo transfer economic benefit to a third party, il is prob8blè that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. E4)enditure is classified by 8clivily. The costs of each activity are rnade up of the lolal of direct ¢osls and shared costs, including support costs involved in undertaking each aclivily. Direct costs allribulable lo a singltr activity are allocated directly lo that activity. Shared costs which contribute lo more than one 8Ctivily and support costs which are not attributable to a single activity are apportioned befvJeen those activities on a basis consislenl vAlh the use of resources. Expenditure on charitable aclivilies is incurred on directly undertaking the acliv*lies which further th8 Charills objectives. as well as any associated support costs. Grants payable are charged in the year when the offer is made exc&pl in IFiose cases where the offer is conditional, such grants being recognised a5 expenditure when the conditions att8ching are fulfilled. Grants offered subject lo conditions which have not been mel al the year end are noted as a commitment, bul not accrued as expenditure. All expenditure is inclusive of iTrecoverable VAT. 2.4 Intèrest recèivable Interest on funds held on deposit is includ8d when receivable and the amount can b6 measured reliably by the Charity.. this is normally upon nolilicalion of the interest paid or payable by the institution wlh whom the funds are deposited. 2.5 Cash at bank and in hand Cash al bank and in hand includes $h and short-lerm highly liquid investménts with a short maturity of three months or less from the dale of acquisition or opening of the deposit 01 similar account. 2.6 Liabllitiès and provlsions Liabilities are recognised when there is an obligation at the Balance sheet dale as a resull of a past event. il is probable that a transfer of economic benefit will k)e required in selllernenl, and the arnounl of the settlement can be eslimaled reliably. Liabili11Ès are recognised at the amount that the Charity anlic(pales il will pay lo sellle the debt or the amount il has received as advanced payments for the goods or senJi¢es il musl provide. Provisions are measured al the best Èstimate of the amounts required lo sellle the obligation. Where the éflecl of the lime value of money ts material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Slalemenl of financial activities as a finance cost. 2.7 Flnan¢lal instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basi¢ fir>ancial inslrumenls. Basic financi81 instruments are initially recognised at transaction value and subsequently measLired al their selllemenl value. Page10
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting pollcles (continued) 2.8 Fund accountlng General funds are unreslrKled funds which are available for use al IhÈ discrètion of the Tmslees in furtherance of the general objecllves of the Charity and which have not been designated for other purposes. Investment in¢oma, gains and losses are all(ated lo the appropriate fund. Income from donatlons and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donaliohs 281,738 281,738 199,889 Total 2023 199.889 199,889 Analysis of oxp&nditur8 on charitable activltle$ Summary by fund type Unrestricted funds 2024 Total 2024 Total 2023 Independent examination Bank charges Grants paid lo institutions 1.986 1,986 13 270,205 1, 728 f 8 232, 800 270,205 272,204 272.204 234,546 Total 2023 234,546 234,546 Page 11
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Analysls of expenditure by activities Actlvlties undertaken directly 2024 Support costs 2024 Total funds 2024 Tolal funds 2023 Independent examination Bank charues Grants lo institutions 1,986 13 1,986 13 270,205 1,728 18 232, 800 270.205 270,205 1,999 272,204 234,546 Tolal 2023 232,800 I, T46 234,546 Grants to Instltutions 2024 2023 Aldridge Foundation Farm Fresh Just Farmers 25.000 40.000 20,000 25,000 20,000 15,000 10,000 12,000 6,000 15,000 6,435 15,000 10,000 15,000 35,770 25,000 40,000 20,000 25,000 20,000 15,000 10,000 12,000 6,000 Rainbows Village by Village Liberty Liberty The Farming Community st Giles HarperAdams BuTton Mind Boomcircle Burton College MS Society YMCA Other grants lo Institutions 10,000 10,000 39,800 270,205 232, 800 Page 12
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Independent examiner's remuneration 2024 2023 Fees payable lo the Charity's independent examiner for the independent exarminalion ol the Charills annual aceounls 1,986 1, 728 Trustees. remuneratlon and expenses During the year, no Trustee5 received any remuneration or other benefits (2023- £NIL). During the year endéd 30 September 2024, no Trustee expenses have been incurred (2023- £hJlL). Creditors: Amounts falling due withln one year 2024 2023 Trade creditors Accruals 6,000 1,986 7. 128 7.986 7, 728 Page13
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEkqBER 2024 10. Statement of funds Statement of funds - current year Balan¢e at 30 September 2024 Balancè at 1 October 2023 Income Expenditure UnrestriGted funds General Funds- all funds 453,086 286,903 1272,2041 467,785 Statement of funds- prior year Balanc8 at 3Q Seplembei 2023 5alsnce 81 l Oclober 2022 Income Expenditure Unreslrl¢ted funds General Funds 487,447 200, 185 f234,546J 453,086 11. Summary offLFnds Summary offunds- currant yèar Balance at 30 S8pt8mb&r 2024 Balance at I October 2022 Income Expenditure General funds 453,086 286,903 1272.2041 467,785 Summary offunds- prior year Balanc6 al 30 SepÈ8mbe 2023 Balance al l October 2022 Income Exp8ndilure Genèral funds 487,447 200, 185 [234,546J 453,086 Page 14
MERCER FAMILY CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 12. Analysis of net assets between funds Analysis of nèt assèts betw88n funds - currant period Unrestricted funds 2024 Total funds 2024 Current assets Creditors due within on8 ye8r 475.771 17.9861 475,771 17,9861 Total 467,785 467.785 Analysis of nét assèts bétweèn funds - prior pèriod Unrestricted funds 2023 Total funds 2023 Current assets 454,814 (1. 728) 454,814 (1, 728) Creditors due M4thin one year Total 453,086 453,086 13. Related party transactions During the year ending 30 September 2024.. Sally Mercer and Rob Mercer ITrusletssl are Trustees of Farm Fresh Revolution lo which a grant was given of £40,000. Donations were raceived from.. Mercer Farming Ltd - £92.OQO Alec Mercer and Roger me[r (Trustees) are directors of the company. - Tom Mercer Limited - £22,000- Tom Mercer and Roger Nercer (Trusleesl are current directors. -Mercer Farm Partners - £23,000 - Alec Mercer, Roger Mercer, Rob Mercer and Tom Mercer ITrusleesl are current directors. Merc8r Fam Pgrtnèrs have mad& a payment of £6,000 to Harper Adams on behalf of Mercer Family Charitable Foundation which was still outslaiiding lo lo Mercer Farm Partners at 30 Septernb8r 2024. Page 15