Charlfy registration numb•r 1180415 THE MATHER FAMILY CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024
THE MATHER FAMILY CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr T N Mather Mrs S L Mather Miss A S Mather Mr H M G Mather Ms K G Mather Charlty number 1180415 Prlnclpal addrès$ All8s 3 Sl George's Square Bolton Auditor Bartow Andrews Carlyle House 78 Chorley New Road Bolton Bankers Irirgin Money Sund6rland Investment advisors Inveslec Wealth & Investment Ltd 3 Hardman Street Spinningfields Manehesler Quilter CheOl Investment Management 4th Floor The Pinnacle 73 King Slrèel Man¢he81er
THE MATHER FAMILY CHARITABLE TRUST CONTENTS Page Tiuslees, report Slalemenl of Iruslees, responslblli1Ses Ind&p8ndent auditor's report Statement of ftn3neial 8Ctivilies Balance sheet Slalemenl of cash flows Notes lo the finandal sl8temenls 10-16
THE MATHER FAMILY CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5APRIL 2024 The Iruslees prèsent their report and financial slalemenls for the year ended 5 April 2024. The financial slalemenl8 have been prepared In 8ccordance with th& accounting ptsliaes sel out in note 1 to the financAal slalemenls and comply wllh the Irusl's trust dèed, the Gharilles Aet 2011 and"Accounling and Reporting by Charities.. Slalemenl of Recomrnended Practice appllcable lo charities preparing their acwunls in accordancè with the Financial Reporting Standard applicabl8 in the UK and Republic c*f Ireland IFRS 102) (effèctive 1 January 20191" Oblectives and actlvltles The objectives of thè Charity are lo support charitable causes by making grants. Income and capltal ol the tru81 is to be used. in whole or part, exclusively for the benefit of charitable purposes al the discretion of the Iruslees. The legally permitted objeGtlve8 are wide and cover genOT8lly accepted charitable objects. Public benefit The Iruslees havè paKI due regard lo guidance issued by the Charity Commlssion in deciding what activities Ihe trust should undertake. Each year the Iruslees will review the objeclwes and acllvilies of the charity lo ensure that they conlinue lo reflect their aims and lo provide public benefit. The Iruslees are more than satisfied Ihal they do. Grant makingpolicy The trust h8S èstablished ils grant making policy lo achleve ils objeclives for Ihg publlc beneffil. Grant requests are received by the Iruslees on an indivldu81 basis. During 2022, the trust purch39@d the land of a golf course. The trust 18 worklng alongside The Woodland Trust lo cary out a rewilding prolecl on the golf course. This project forms part of the liust's environmen181 objectives. Achievèments and perfom)ancè SignifJ¢ènl aelivilies and aGhlÉ¥vemenls 8g8insl objèctives The results lor the year endèd 5 April 2024 arè set out in the Statement of Financial Activities on pagè 7. The charily h88 made 2212023.. 251 grants lo charitable causes lolalling £422,67312023.' £403,098). Thé IrLtslees considèr the perfortn8n¢e of the inveslmernls lo be salisladory. Flnanclal review The principal funding source is income received through donations from members of the Mather family. The donations were in Ihe form of shares which havo been placed into an inveslrnenl portfolio. Details of the assets of the charity are given on the balance sheet on page 8 to the accounts. The trustees confirm that the charity's assets are av8il8blè and adequate lo fulfil ils obligations as they fall due. 11 is the policy ol the charity lo ensure sufficient funds are avallable lo cover donations payable, and managÈmenl and administration cosls for the foreseeable future. The trust deed doès ntst Testricl the Snvèstment powers of the trustees. Ttslal re8erv8s at the year end are £8,725,039 12023.. £8,320,177), which Includes a lolal of £7,634.124 12023.. £7,241,799} in an invèslmenl portfollo. Free reserves sland al £7,903,575 {2023.' £7,498,713) after removing amounts included wtthin lanoible fixed assets. All reserves are unrestricted. Investment poliGy The Iruslees seek lo inve51 in a bal8nc8d risk portfolio lo try and achieve a level of return sufflcSenl lo fund the normal levels of aharitable donations in any one-year peiiod. The Iruslees en8ure donalion5 made do not exceed the level ol return geneialed from the balanced risk porifolio. Major The Iruslèès have assessed thè major risks lo whlch the trust is exposed, and are Satisfi that systems are in place lo miligale exposure lo the m8lor risks.
THE MATHER FAMILY CHARITABLE TRUST TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 Plans for future perlods The Mather Family Charitable Trust Is 8 laslSng leslimony lo the generosity and philanlhropie concern5 of the M8lher family. The need lor aid seems never ending and the Iru51ees plan lo continue doing what they can lo assist. However, the Iruslees r221ise that they musl use the resources they have wisely. The Iru51è8s will continue to Consider all requests for donations and will seek to make donation5 for charilable purposes that fully meet the charity's aims and objectives. Structure. governance and management The Mather Family Charitable Trust was registered with the Charity Commission on 23 Octobèr 2018 under charfty number 1180415.11 is governed by a deed of trust dated l June 2018. The Iruslees who seNed during the year and up lo the dale of signaturè of the financial 8talèmenls were.. Mr T N Malher Mrs S L Mather MissA S Mather Mr H M G Mather Ms K G Malhei Recmitm&nt &nd &ppolnlmenl of trustees New ITuslÈes are appointed by the selllors and thereafter by resolution ¢>f the Ir¢Jstees. On appoinlment of a new Iruslee, the èxlsting Irustees explain lo the nèw trustee the decision-making process of the trust and provide an overview of the administrative procedures employed by the trust. No Iruslee or connected person may rèceive any payment of money or olher material b&nefits {whelher dlrect or indi¢1> from the charity except for 8Ctwilies that fall wlhin the charltls objectives. Mr J Rhodes is contracted by the trust lo fulfil a m3nagement role, maintaining th& trust's day-to-day aclivllies and revt&wing potential reciplenls of grdntsldonations. From these shortlists of potential donees, the Iruslees make the rinal decision as to whom the donations are made. The Iruslees, re orl was approv&d by the Board of Truste68. Mr T N M81hor Trustee 25 November 2024
THE MATHER FAMILY CHARITABLE TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 5 APRIL 2024 The Iruslee8 8Te responsible for preparing the Tru81èes' Repori and the financial slalemenls In accordance with applicable law 8nd United Kingdom Awunling Standards Iuniled Kingdom Generally Acceptèd Accounting practi). The law 8pplieable lo charilles In England and Wale8 requires Ihe Iruslees lo prepare financial ststemenls for e8eh financial year whl¢h glve a true and falr vlew of the slate of alfairs of the trust and of the incomlng resources and 8pplicalitsn of resources of the Irusl for that year. In prepsrfng these financial slalemenls, Ihe Iruslees arè required lo.. select suitable accounllng polirAes and then apply them conslslenlly.. . observe thè methods and prlnciples in the Chaiities SORP.. make judgem&nts and e61imales that ar6 reasonable and prudent., slate whether applicable accounting standards have been followed, subject lo any matèrial departures dlsijosed and explained in the finani#al slalements,. and prepare th@ financial slalemenls on the going concern basis unless it is inappropriate to PTesume Ihat the charity will continue in operation. The truslees are responsible for keeping sufficient accounting records that di8¢108e with reasonable accuracy al any lime the financial position of the trust and enable them lo ensure that the financlal slalemenls comply with the Charities Act 2011, the Charlly (Accounts and Reports) Regula110n5 2008 and the prow5ions of the trust deed. They are also responsible for safeguarding the 8sSÈts of the trust and hènce for taking reasonable sleps for the prevention and detection of froud and other irregularllles.
THE MATHER FAMILY CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MATHER FAMILY CHARITABLE TRUST Oplnlon We have audited the financial slal8menls of The Mather Famity Charitable Trust Ilhe Yrusy) for the yeaT ended 5 Aprll 2024 which comprise the slalernenl of finanrAal acliwlies, the balance sheet. the 51alemenl of cash flows and notes lo the financial slalemenls. induding slgnificanl accL)unllng policies. The financial reporting framewoirk (hot has been applied in their preparalion 15 applS¢able law and United Kingdom Accounting Standards. includlng Financial Reporting Standard 102 Thè Financial Reporting Standa1 ppIable in the UK and Rgpubllc of Iland Iunilèd Kingdom Generally ACpIed Accounting Practice). In our opinion, the financial slalemenls.. give a true and fair view of the slate of the charity's affairs as al 5 April 2024 and of ils Sncoming resources and application of resources, for the year then ended., have been properly prepared in accoTdance with United Kingdom Generally Accepted Accountlng Pradice., and have been prepared in accordance with the requlremenls of the Charities Act 2011. Basis for opinlon We conducted Dur audit in accordanee with Inlemallonal Standards tsn Auditing (UK) IISAS (Um) and applicable law. Our responslbililies under Ihose slandardg are further described in the Audilorfs respon&ibililies for th& audit of the finanGial slat8nJ&nts section of our rèptsrt. We are Independent of the Iwsl in accoidanc8 with the elhl¢al requlrements that are rèlevant lo our audit of the financial statements in the UK. including IhÈ FRC'S ElhS¢al SlandaTd, and we have fulfilled our other ethical responsibilities in 8ccordanTr wlh thèse requirements. We believe Ihal the audit evldencè we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslon$ relatlng to golng concern In auditing the financial slalemenls. we have concluded Ihal thè Iruslees, use ol the going concem basis of accounting in th& preparation ol the financial slalemènts is appropriate. B8sed on Ihe WOTk we have performed, we have not idenlSfiÈd any materi81 uncertainlies re181ing lo events or conditions that, individually or collectively, may cast significant doubl on the Iru8t'S ability lo conllnue as a going concern for a p&riod ol al least twelve months from when the financlal slalemenls are aulhorised for issue. Our responsibilitie5 and th& responsibilrtles ol the Iruslees with respect lo golng concein are desuibed in the relevant seetions of this report. Othèr Information The oiher informalFon comprises thè information in¢luded in the annual report other Ih8n th6 financial slalemenls and our auditor's port thereon. The Iruslees are responslble for the other Information conlainttd within the annual report. Our opinbon on the finanaal slalemenls does not cover the other infomali(Trn and we do not express any form of assuran¢e condusion Ih&reon. Our responsibility 18 to read Ihe other Information and, in doing so, ¢onsider whether the other informallon Is malerSally inconsislenl with the financial statements or our knowledge oblalned in the course of the audit, or olheTwise appears lo be m81eri8lly rnisslaled. If we identify such material inconsistencies OT apparent malerfal misstalemenls, we are required to determine whether this gives rise to a material misslatemenl in the financial statements IhemsÉlves. If, based on the work we have performed. we conclude th81 thèrè is a matèrial misstatement of thls olhtsr information, w& are required lo report that fact. We have nothing lo report in this regard.
THE MATHER FAMILY CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF THE MATHER FAMILY CHARITABLE TRUST Matters on whleh we are requlred to report by exception In light ol the knowledge and understanding ol the charity 8nd Ils environment oblaSn8d in the course ol the audit, we have not identified material mis51alemenls in the Iruslee5' report. We have nothing lo report in resped of the following matters In relation to which the Charities (Accounts and Reports) Regulations 2008 require ug lo report lo you if, in our opinion.. the information glven in the Iruslees, port is inconsistent in any material respect with the financial $latemenls', or sufficient accounllng recckrds have not been k&pl', or the financ(al slalemenls are not in agreement with the accounting records. or we have not recelved all the information and explanations we requlre for our audit. Responsibilltle$ of trust8 A5 explainèd more fully in the slalemenl of Iruslees. responsibilities, the Iruslees arè responsible for the preparation of the financial statements and for bèing satisfied that they give a true and fair wew, and lor such internal control as the Iruslees determine is necessary lo enable the pparatIon of financial slalemen15 that arè free from material misslalemenl, whelher Iluè lo fraud or errol. In preparing the financial slalemenls, U)6 trustees are responslble for assessing the Iwsl's ability lo conllnue as a going ¢on¢ern, disc105ing, as applirablè, mallers related lo go1ng concern and using the going concern basls of accounting unlèss the Iruslees either intend lo ¢ease operations, or have no realistic allernalive bul tr) do so. Audlto*s responsibilitie5 for thè audlt of the financial Ètatèments We have been appointed as auditor under section 145 01 thè Charities Act 2011 and report in accordance with the Act and ielèvant regulations made or having effeel Ihereundèr. Our objectives are lo obtain reasonablè assurance about whether the financial statements as a whole are free from rnalerial misstatement, whether due to fraud or error. and lo Issue an auditor's ieport th81 includes our opinion. Reasonable assurance is a hlgh level of assurance bul is not a guaranteè that an audit conducted in accordance with ISAS IUKI will alw8y8 delecl a malerial misslalèmenl when il exists. Misstalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influènce the econom1¢ decIsnS of useis taken on the basi$ of these financial statements. Irregularilies, including fraud, are instances of non-compliance with laws and regulatlons. We design Pfoeèdures in Ilne with our responsibilities, oullin6d above, lo delecl Tllal8rSal misstatements in respect of irregularilies, Sncluding fraud. Thè extent lo which our procèdures are capable of delecling irregularities, Including fraud and non- compliance wilh laws and regLJlalions. was as follows.. th6 engagement partner ènsured that the engagement team collec1we had thè appropriate competence, ¢ap8bililies and skills lo Idenllfy or recognise non-compliance with applicable laws and gulations.. we identified the laws and regulations 8pplicable lo the charity IhT(iugh discussions w51h Iruslees and other management, and from tsur commercial knowledge and experlence of the ¢h3rily sector,. we focused on specific18ws and regulations which we cjnsidered may have a dlreel material effect c>n the finan¢ial statements or the oper81ions ol the charity. including the Charilies Act 2011., we a55essed the exlenl of compliance with the laws and regulations identified above through making enquiries of m8n8gemenl-, and identified laws and regulations were comrnunicaled within the audit team regularfy and the team remained alert lo instances of non-compliance throughout the audll. We assessed the susceptibility of the charitvs financial statements lo malerkgl mlsslalemenl, including obtaining an understsnding of how fraud mlghl occur, by.. making ènquiries of management as to where they consldered there was suscepllbllily lo fraud. Ihtslr knowledge of actual, suspected and alleged fraud.. and considering the internal ¢onlrds in place lo miligale risk5 of fraud and non-compliance with 18ws and regulations.
THE MATHER FAMILY CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE MATHER FAMILY CHARITABLE TRUST To address the risk of fraud through rnanagemenl bkqs and overrlde of controls. we.. performed analytical procedures lo idenlfy any unusual or unexpected rèlallonships., confirmed no journal entries have beèn made by management,. and confirmed no estimates have been made by management. In response lo the risk of Irregularllles and nonAcomplLgnce wilh laws and regulations, we designed procedures which included, bul were not limited lo.. agreelng financial slalement disclosures lo underlying supporting documenlalion., reaLling the minutes of rlleellngs of those charged with governance., enquiring of management as to actual and polenllal IlligaliDn and clalms. There are Inherent limitations In our audit Procedures describeil above. The more removed that laws and regulations are from financial Iransacllons. the less Ilkely il is that we WOLJld become aware of non-cornpliancè. Auditing standards also limit the audit procedures required l(Tr idèntify non.compli8nee with laws and regulations lo enqulry of the Iruslees and other management and the inspecllon of regulatory and legal ¢orrespondence, if any. Material mi8$lalèments Ihal arise due lo fraud can be harder to delecl that those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of (he financial stalernenls 18 lo¢aled on the Flnan¢i81 Reporting Council's website al: uthw.frc.org.uklaudilorsr8sponsibililies. Th18 description forms part of our audllor's report. Use of our report This rèport is made solely to the charity's Irusl8es, as a body, in accordance with part 4 of the Charities IA¢¢ounls and Reports) RegulalioT)s 2008. Our audll work has beon underlaken so th81 we might slate lo the charitys Iru$lÈes those mallers we are required lo s18te lo them in an auditor's report and for no other purpose. Tts the fullest extent permilled by law, we do not accept or 8ssume responsibillly lo anyone other than the charity and th9 charity's Iru$lees as a bixjy. for our audit work, for this report, or lor the opinions wè have forrned. Allson Comes Isenlor Statutory Audltorl for and on behalf of Barlow Andrgws LLP 25 November 2024 Chartered Accountants statutory Auditor Carlyle House 78 Chorley New Road Bolton Badow Andrews LLP is eligible for appolnlmenl as audiloi of (he trust by wrtue of ils èligibility lor appointment a5 audllor of a cornpany under section 1212 01 the Companies Act 2006.
THE MATHER FAMILY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Unrèstricted funds 2024 Unrestrlcted funds 2023 As restated Notès In¢omè from: Dtsnalions and legacl8s Investments 406,572 177,762 526,154 160,836 Total incomè 584.334 686,990 Expenditure on- Charilable aclivilles 577.081 564,422 Total expendlture 577,081 564,422 Nel gainslllosses) on invèstments 12 397,609 1932,956) Net Incomellèxpenditurel and movement In funds 404,862 1810.3881 Reconciliation of funds: Fund balances al 6 April 2023 8,320,177 9.130,58S Fund balances gt 6 Aprll 2024 8,725,039 8,320,177 The statement of financi81 a¢livilies inrjudes all gains and losses recognlse(1 Sn the year. All income and èxpenditure derive from continuing aclivilies.
THE MATHER FAMILY CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 As restatèd Nots8 Flxèd assets Tangible a55ets Investments q3 14 821,464 7,858,747 821.464 7,498.217 8,880.211 8,319,681 Current assets Debtors Cash at bank and in hand 15 151.254 80.800 763 177,430 232,054 178,193 Credltor8: amounts falllng due wlthln one year 17 1167,2261 1102,6971 Net current assets 64,828 75,496 Total assets less currènt Ilabllltles 8,745,039 8,395,177 Creditors.. amounts falllng duo after more than one year 18 (20,000) 175,OQOI Net assets 6,725.039 8.320,177 The funds of the trust Unrestricted funds 20 ,725,039 8,320,177 8,725.039 8.320,177 The ffinancial statements were approved by the Iruslees on 25 November 2024 Mr T N Mather Trustse
THE MATHER FAMILY CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5APRIL 2024 2024 2023 Notès Cash flows from op&ratlng activitie$ Cash absorbed by operations 24 1718,0421 1578,020) Investing actlvltles Purch8se of investments Proc8èds from disposal of investments Inveslm@nl income rectslvèd {1,506,725} 1,918,580 177,762 11,122.031) 1,019.204 160,836 Net cash gener•ted from Investing actlvltlgs 589,617 58,009 Nèt cash usèd In financlng activiti Net decregse In cash and cash frqulvalents {128,4251 1520,0111 Cash and cash equivalents al beginning of year 433,848 953,859 Cash and ca$h equlvalènts at end of year 305,423 433,848 Relating to: Cash al bank and in hand Shurt term dèposits included Current asset inveslrnenls 80,800 177,430 224,623 256,418
THE MATHER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5APRIL 2024 Accounting poll¢les Charity inforniatlon The Mathèr Family Charitable Trust is a charity established under Iwsl deed. The pilnclpal offe is Atlas 3, 46 Sl Georye's SquarE. Bolton. 1.1 Accounllng convention The financial slalements have been preparèd in accordance wllh the trust's Irusl deed, the Charllles Act 2011 and "Accounting and Reporting by Charities.. Slalemenl of Recommended Practice 8pplieable lo charitiès preparing their aceounls in ac¢ord8nce wilh the F1nancial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021 l&ffe¢tive 1 January 20191. The trust is a Public Benefit Enlily as defined by FRS 102. The financial slalemenls are prepared in sterling. which is the fundional currenoy of the trust. Monetary amounls in these finanryal statements arts rounded lo the nearest £. The financ181 slalemenls have b&Èn Prepared under the hislorlcal cost convention, modified lo Include certain finanaal insltumenls al falr value. 1.2 Prior period èrror A prior period adjuslmÈnl has been undertaken lo recognlse grants payable in which the charity was committed lo in a previous fln8n¢ial year. A deiailed analysis of the adjustment has been included in the financial slalemenls as per note 25. 1.3 Golng concern Al the Ilme of approving the finaneial slalernenls, the Iruslees have a reasonable expectation that the trust has adequate rèsources lo continue in operalional exlslèncè for the foresee8ble future. Thus the Iruslees continue lo adopt th& going concern basis of accoLJnling in preparing the financial 5ts1èmenls. 1.4 Charltable funds Unrestricted funlls are available for use al th8 discretion of the trustees in furtherance of Ihelr charlt8b obje¢tivès. 1.S Incomè Income is recognised when the trust Is legally enlilled lo it after any perftsrmance conditions have been mel, the amounts can be measured ieliably, and il is probablè that income will be received. Income from Ilsled investments is recognlsed al the ex-dividend date. Cash donations are recognised on receipt. Any donallons in the form of shares are recognised al market value al the polnl ol transfer lo the Trust. 10-
THE MATHER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5APRIL 2024 Accounting policiès Icontlnued) 1.6 Exptndliure Expenditure is recogni5ed once there is a legal or eonslruclive obllgalion to transfer economic benefit lo 8 Ihlrd party, il is probable that a Iransfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reli8bly. Expenditure Is fecognised on an aCU&l9 basis. Charilable expenditure comprises those costs incurred by thè tharily in the delfvery of ils activill&s 8nd Services for ils benefi¢laries. It includes both costs that can be allocated directly lo such activities and those costs of an indirect nature n&¢essary to support them. Grants payable arg aecounled for when thè InJsleÈs have aacèpled a legal or moral obligallon and accounted lor as resource5 expènded in the slalemenl of flnancial activities. Governance costs Include those eosls assoclaled with meeting the conslitulional and slalulory requirements ol the charity and include the audit fee. 1.7 Tanglble flxed assets Tangible fixed assets relate lo freehold land which 18 not Ileprecialed. 1.8 Fixed 35set Investments Flxèd asset investments are initially measured al Iransadion price excluding transaction costs, and are subsequÈntly measured al fair value at each reporting dale. Changes In f81r value are recognlsed in nel incomellexpendilurel for the year. Transaction costs are expensed as incurred. 1.9 Impairment of fixèd assets Al each reporting end dale, the trust rewèws the carrying amounts of ils tanglble a88els lo determine whether thère is any indication that those assets have suffered an impaiimenl loss. If any such indic8lion exists, the recoverable Bmounl of the asset is eslimaled in oideF lo detèrmine the exlenl tsf the impairment loss lif any). 1.10 Cash and cash equivalents Cash and cash equivalen15 in¢lude cash in hand and deposits held at call with bat)ks. 1.11 FlnancSal instruments The trust has elected to apply the provisions of Secllon 11 'Basic Financl81 Inslrumenls, and Section 12 '01her Flnancl81 Inslrumenls Issue5, tsf FRS 102 to all of its financial inslrumenls. Financlal inslruments are recognlsed In the Irusfs balance shèet when the Imst becomes party lo the contractual provi51ons of the inslrumenl. Financial assets and liabililios are offset, with the nel amounts presented in the financial slalemenls, wher¢ there is a lègally enforceable right lo set off the recognised amounts and Ihertr18 an intention lo sellle on a nel basis or lo reallse the asset and seltte the liability simultaneously. 84slc flnancialassets Bas1¢ financial assets, which include deblors and cash and bank balans. are Inllislly measured al transaction price including Iransaelion costs and are subsequently carried al amorlised cost using thè effective intere51 method unless the ariangemenl conslilules a finaneing Iransaclion, where the Iransacllon is measured al the prÉsent value of the lulLJre receipts discounted al a market rale of Interest. Flnancial assets cl8ssified as receivable wKhin one year are not amortised. Baslc financial Ilabllltles Basic financial liabilities. includlng creditors. are initially rèeognised at Iransacllon price. Financial Ilabililies classified as p8y8ble within one year are nol Bmoriised. 11
THE MATHER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5APRIL 2024 Crltlc81 accountlng estimates and Judgements In the application of the Irusl's accounting pollcSes, the Ifuslee8 are required lo make judgements, estimBles and assumptions about the carrying amount of 8ssèls and liabililles that are not ieadlly apparent from olhèr sources. The eslimales and ass0¢ialed assumption8 are based on hislorlcal experience and other faclors that are considered lo be relevant. Actual results may differ from these estirnales. The 851imal&s and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimales are recognised in thè period in which the estimate is revised where the revl$ion affects only that period, or in Ihe period of the revlsion and future perlods where the rewslon affects both currènt and future perirxls. Donations Unrestri¢ted Unrostrlcted fund5 funds 2024 2023 Donations and glfts 406.572 526,154 406,572 526,154 Invp$tm•nts Unre5trictÈd Unrestricted funds funds 2024 2023 Income from listed inve81ments 177,762 160,836 Charltable activities Charltable Charltsblè Expendlture Expenditurè 2024 2023 AB rostated Professional fees 74,070 68,162 Grant fundino of activities (see note 61 422.673 403.098 Shara of support costs l$ee note 81 Share of governance costs (see note 81 12,942 67.396 29,064 64,098 577,081 564,422 12-
THE MATHER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5APRIL 2024 Grants payable 2024 2023 As restated Grants lo Inslilullons.. Access Sport Cardiac Rlsk in the Young Edith Cavell Fund Pankhurst Trust Earthwalch Europe Just Drop In Roald Dahl's MaNellous Children's Ch8rify Wheelyboat Trust East Cheshire Hospi¢è Manchester University NHS Foundation For the Baby's Sakg Bollinglon Sl Helens Book Slop Read for Good SlreÈllight UK Other gfanls lo institutions 84,000 12,000 10,OOQ 37,500 10,000 11,125 102,833 22,250 111,076 10,000 50.000 23.204 10.000 15,(X)O 75,000 39,987 50,018 38,OOD 45,493 70,285 422,673 403.098 Net mov&mant in funds 2024 2023 The nel movement In funds is slated after chargingllcrediling).. Fees payable for the audit of the charitys financial slalernenls 7,280 6,780 Supportcosts Support Govèrnance costs costs 2024 Support Governance costs costs 2023 Bank charges Conference costs Website costs Prc*fe55ion81 fèès In8uran¢e Audit fees Consultancy 105 442 322 12,073 105 442 322 12,073 103 422 103 422 27.271 1,288 27.271 1.268 6.780 57.318 7.260 80.136 7,260 60,136 6,780 57,318 12.942 67.396 80,338 29,064 64,098 93.162 Governance costs In¢lLJdes £7,26012023'. £S,7801 for audit fees and £60,13612023'. £57,316) for consultancy fees paid to Mr J Rhodes in relation lo his management role. 13
THE MATHER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5APRIL 2024 Trustees None of the Iruslees lor any per80ns connected with them) received any remuneration or benefits from the trust durlng the ygar. 10 Employees There were no indNidu81s employed by the d)arity during Ihe current or prlor year. 11 Taxatlon The charily is exempl from tsx Dn income and gains fallSng within section 505 of thè Taxes Act 1988 or secti(>n 252 of the Taxation of Chargeable Gains Acl 1992 to the exient that these are applied lo ils charitable objects. 12 Galns and losses on Inve$tmgnts Unfestricted Unrèstrlcted funds fund6 2024 2023 Gainslllosses) arising on.. Revaluation of Investments Sale of investments 372,850 24,759 1932,373) 1583) 397,609 1932.956) 13 Tanglble fixed assets Freehold larEd Cost Al 6 Aprll 2023 821.464 Al 5 April 2024 821,464 Carrying amount Al 5 April 2024 821,464 Al 5 April 2023 821.464 This relates lo land which is leased lo The Wi)odland Trust at no cost. A rewildlng projeot is being undertaken as part of the Irusfs envlronmenlal objectives. 14-
THE MATHER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED S APRIL 2024 14 Fixed asset Inv&stments Ltstsd inv•stm&nts Cash In portfollo Totsl Cost or valuation AI 6April 2023 Addition5 Valuation changgs Re8llsed gain Disposals 7,241,799 7,498,217 1.913,297 4,010,282 372,849 372,849 24,759 24,759 11,918,580) {2,128,7801 14,047.3601 256,418 2,096.985 Al 5 April 2024 7.634,124 224,623 7.858,747 Carrylng amount Al 5 April 2024 7.634,124 224,823 7,858,747 The following investments individually represent greater than 5% 01 tho market value of the investment portfolio.. 146.800ordin8ry sharas Auto Tr8der Group plc £1,023,636 15 Debtors 2024 2023 Amounts falllng due wlthln one year: Other debtors Prépayments and accrued Income 50,000 1.254 763 51,254 763 2024 2023 Amounts falling due after morè than one year. Other debtor8 100,000 Total dèbtors 151,254 763 Included within olher debtors is a loan made to another charitable organisallon for £150,(100. The Itsan is inlerÈsl free for 12 mtsnlhs from the dale that the loan was Provided, then interest will be charged al 2°h for the fr)Ilowing 12 months. Followlng this, interest will be charged al 3OA until the loan is fully repaid. Thè loan is expacled lo be repaid within 3 yèars. 15-
THE MATHER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5APRIL 2024 16 Flnanclal Instruments 2024 2023 A5 restated Corrylng amount of finan¢lal assets Equily instrumen15 rneasurèd al fair value Equity instruments measured al cost less imp8imènt 7,858,747 232.054 7,498,217 178,193 Carrylng amount of flnanclal Ilabllitlg5 Me8sured at amortised cost 187,226 177,697 17 Credltors: amounts falllny due within one year 2024 2023 As restated Grants payablè Accruals and deferred incorne 149,813 17,413 92,917 9,780 167,226 102,697 18 Creditors.. amounts falllng due after more than one year 2024 2023 A8 rèstatod Grants payable 20.000 75,000 19 Grants payablè 2024 2023 As restated As al 6 April 2023 New cornrnilmenls Payments made Commitments reversed 167,917 429.465 1420.77n 18,792> 181,616 404,774 {416.7971 {1.e761 As al 5 April 2024 169,813 167,917 Falllng due within one year Falling due after one year 149.813 20,000 92.917 75.0 169,813 167,917 16-
THE MATHER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 20 Unrestricted funds The unreslricled funds of the charity comprise the unexpended balances of donations and gran15 whlch are not sublecl lo specific conditions by donors and grantor5 as lo how they may be used. These include designated funds which have been sel aside out of unreslricled funds by the Iruslees for specifio purposes. At 6 April 2023 As rèstated Incomlng resource8 Resources èxpended Golns and lo$$•s At S Aprll 2024 General lunds 8,320,177 584,334 1577,0811 397,609 8,725,039 Prèvlous year: At 6 April 2022 AS reststed Incomlng resource5 Resources expènded As rèstatsd Galns and losses At 5 Aprll 2023 As rtated G&n8ral funds 9,130,565 686,990 1564.4221 1932,958) 8,320,177 21 Analysls of net 8$$ets betsveen funds Unrestricted Unrestrlct&d Funds Funds 2024 2023 AS rostated Fund balances al 5 April 2024 are r6presenled by.. Tangible assets Investments Nel current assets Long lem Ilabllilles 821,464 821,464 7,858,747 7.498,217 64,828 75,496 120,0001 175,000} ,725,039 8,320,177 22 Relatsd party transactlons During the period the Iruslèes made donations loialllng £408.572 12023.. £526,154) lo the charity. The don81ions relate to the grft of shares into an investment portlollo. This has been included as a fixed asset addition In the period. 23 Analys18 of changes In net funds The trust had no material debl during the year. 17-
THE MATHER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 24 Cash generat&d from operation$ 2024 2023 As restated Surpluslldefiall for the year 404,862 1810,3881 Adjusln)enls for.. Investment In¢ome recognised In slalemenl of financial a¢livilies (Galnllbss on dispDsal of Investments Fair value gains and losses on Investments Gill ol shares {177,7621 124,7591 1372,850> 1406,572) 1160,836) 583 932,373 {526,1541 Movements in working capital.. Increase in debtors 1ncreaselldeease} in credSlors 1150.491) 9.530 1393) 113,2051 Cash abÈorbèd by operations <718,0421 1578,020> 26 Prlor perlod error Recon¢llSatlon of ¢hang&s In net funds 6 April 2022 S April 2023 Adluslments to prior year Tol81 adjuslmenls Funds as prevlously reported {87,1821 9,217,747 1167,9171 8,488,094 Funds as adjusted 9.130,565 8,320,177 Re¢onclllatlon of net movement In funds for the previous financial period 2023 Adjustments to prlor year Total adjustments Nel movement in funds as previously slated 180,735} 1729,653} Nel M0ment in funds as adlusled 1810,388) Following a review of the prior year financlal slalemenls, an adjuslmenl has been idenlified In regard Its the recognilion of grants payable. Expenditure was underslated by £80,735, CTeditors less than one ye8r were understated by £92,917 and cr&ditors more than one year were underslaled by £75,0(XJ. 11 was also noted that £87.182 of gfanls payable should have been rÈeognised in Ihe year endlng 5 April 2022. This has been amended in the financial slalèments to decrease funds brought forward as al 6 April 2022 by £87,182. 1B-