Trustees’ Annual Report for the period
From 1 January, 2021 To 31 December, 2021
Charity name: The Magenta Project
Charity registration number: 1180719
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The Magenta Project promotes equality and diversity in sailing. We upskill and connect female sailors by providing on water training, learning and development opportunities and through building networks and relationships that connect people; inspire female sailors through raising awareness and the visibility of women in sailing and work across the sailing industry to deliver change. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
During the period in question the Charity continued to operate to promote its activities and charitable aims at sailing events. Discussions were held with potential partners and events to promote the Charity’s aims and objectives as above. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | Confirmed |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | TMP continued to adapt to the effects of coronavirus with particular effect within our mentoring programme with the continued online group seminars. The mentoring programme continues to expand with a new programme started in September, with an increased number of participants. Mentees of the programme TMP continued to collaborate with events as they re-started following COVID in order to progress strategic development in gender equality in our sport. |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | Cash at bank at 31/12/20 was £1,413, with £2,248 also held in a Paypal account. These funds are held in order to provide financial assistance to individuals or projects promoting equality and diversity in sailing, as well as for the general running costs of the charity which for the period in question are largely website hosting, mentoring matching software and web conferencingcosts. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The reserves held are unrestricted as no restricted donations were received during the period. |
| Amount of reserves held | Para 1.22 | £3,661 |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | None |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | The charity remains in it’s initial phases of operation and has sufficient reserves to continue operating until further momentum isgained. |
Structure, Governance and Management
| Type of governing document (trust deed,royal charter) |
Para 1.25 | Constitution adopted 15 November, 2018 |
|---|---|---|
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Unincorporated association |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of |
Para 1.25 | Trustees are appointed or reappointed annually at the Annual General Meeting. |
any person or body entitled to appoint one or more trustees
Reference and Administrative details
| Charityname | The Magenta Project |
|---|---|
| Other name the charityuses | None |
| Registered charity number | 1180719 |
| Charity’s principal address | 29 Verdon Avenue, Hamble, Southampton, SO31 4HW |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 |
Trustee name | Office (if any) | Dates acted if not for whole year Name of person (or body) entitled to appoint trustee (if any) |
|---|---|---|---|
| Victoria Low | Trustee | Appointed 10 June,2019 | |
| Elaine Penhaul | Chair | Appointed 1 March,2019 | |
| Mrs V Ellis | Trustee | ||
| Abby Ehler | Trustee | Appointed 27 March, 2019 |
|
| Ms E Greenhalgh | Trustee | ||
| Tiphaine Turluche | Trustee | Appointed 1 March, 2019 | |
| George Andrew Pindar |
Trustee | Appointed 17 March 2020 |
Corporate trustees – names of the directors at the date the report was approved
Director name None
Name of trustees holding title to property belonging to the charity
| Trustee name None |
Dates acted if not for whole year | |
|---|---|---|
Funds held as custodian trustees on behalf of others
| Description of the assets held in this capacity |
None |
|---|---|
| Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects |
N/A |
| Details of arrangements for safe custody and segregation of such assets from the charity’s own assets |
N/A |
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s)
Full name(s) Ms Elizabeth Greenhalgh
Position {eg Secretary, Chair, etc) Trustee Date
Statement of Income
For financial year ended December 31st (GBP, rounded to nearest £)
For the year ended 31 December, 2021
Donations
General donations (unrestricted funds) Other revenue
General donations (unrestricted funds) £3,565 Other revenue £0 £3,565 Charitable expenditure Bank charges £0 Forex gains/losses £0 Web domain (£42) Web conferencing (£187) Mentorloop Software (£1,722) (£1,951) NET SURPLUS/(DEFICIT) FOR THE YEAR £1,614
Balance Sheet
For financial year ended December 31st (GBP, rounded to nearest £)
~~As at 31 December, 2021~~
Assets
Cash at bank Chuffed Donation account Paypal accounts Accrued income
Liabilities
[none]
Net assets
Equity
Unrestricted funds bf Deficit for year
Total equity
Difference
£1,413 £0 £2,248 £0 £3,661 £0 £0 £3,661 £1,929 £1,614 £3,543 (£118)
| BALANCE SHEET | |||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TRANSACTIONS AS PER MONTHLY BANK STATEMENTS CHUFFED DONATION ACCOUNT |
BANK ACCOUNT (LLOYDS) |
PAYPAL ACCOUNT GBP |
PAYPAL ACCOUNT AUD |
PAYPAL ACCOUNT EUR |
PAYPAL ACCOUNT USD |
PREPAYMENTS/ DEPOSITS/ ACCRUED INCOME RETAINED EARNINGS |
DONATIONS | OTHER REVENUE |
GENERAL & RECURRING EXPENSES | ||||||||||||||||||||||||||||||||||||
| Check TOTALS 2017 TOTALS 2018 TOTALS 2019 TOTALS 2020 TOTALS 2021 $-0.00 $-0.00 $- $- $- $- |
Date (0) (0) (0) 625 (409) 09/29/2017 09/29/2017 11/03/2017 01/01/2018 04/08/2018 |
Descriptions | Deposit £ - £ 2,390.74 £ 2,815.75 £ 1,449.75 £ 1,413.23 |
Withdrawal | Remarks £ - £ - £ - £ - £ 30.00 £ 30.00 Unknown Paypal currency- AUD123.47,USD31.49,EUR14.14 Convert currencyto GBP 123-regLimited - website domain 123-regLimited - website domain Libbycredit cardpayment |
£ - £ - £ - £ - |
£ - £ - £ 108.44 £ 1,073.87 £ 2,247.53 38.38 -38.38 (86.11) 86.11 |
£ £ £ -£ £ |
31.92 31.92 31.92 0.00 - 71.39 (39.47) |
£ 12.55 £ 12.55 £ 12.55 £ 0.00 £ - 12.55 |
£ 23.28 £ 23.28 £ 23.28 -£ 0.00 £ - 23.28 |
WOKC 2019 £ - £ - £ - £ - -£ 67.75 £ - £ 1,000.00 -£ 2,458.49 -£ 1,000.00 £ - -£ 4,021.94 £ - £ - -£ 1,928.80 £ - |
Donation paid £ - £ - £ - £ 1,000.00 -£ 1,235.23 |
Bank interest [Other] £ - £ - -£ 107.22 -£ 2,390.74 £ - £ - -£ 696.00 £ - -£ 0.01 -£ 1,000.00 £ - £ - -£ 3,564.93 £ - £ - $-107.22 GENERAL DONATIONS |
Write of £ - £ - £ 25.00 £ 1,000.00 £ - |
£ 15.00 £ - Bank charges |
Branding £ 707.75 £ 707.75 |
£ 1.09 £ - £ - £ 1.59 £ - $1.09 Foreign exchange gain/loss |
Zoom £ - £ - £ - £ 287.80 £ 187.07 |
£ 38.38 £ - £ 57.56 £ 81.00 £ 42.00 $38.38 86.11 $-86.11 Website domain/email hosting |
£ 1,722.00 Mentorloop software |
£ - £ - £ 50.00 £ - £ - Travel expenses |
|||||||||||||||||||||||
| $- $- $- $- $- $- REGISTRATION $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- |
09/01/2018 09/13/2018 FPI 09/24/2018 FPI 10/09/2018 FPI 11/03/2018 11/03/2018 AS A CHARITY, 15/11/2018 01/20/2019 04/05/2019 FPO Unknown 06/30/2019 09/09/2019 10/08/2019 10/21/2019 10/30/2019 05/05/2020 05/31/2020 07/01/2020 07/31/2020 08/31/2020 09/28/2020 10/01/2020 10/21/2020 10/22/2020 10/22/2020 10/30/2020 10/31/2020 12/01/2020 12/31/2020 01/01/2021 01/02/2021 01/03/2021 31/3/2021 31/03/2021 FPO 10/03/2021 1/4/2021 1/5/2021 29/6/2021 30/6/2021 28/7/2021 31/7/2021 26/08/2021 26/08/2021 FPO 31/8/2021 27/09/2021 FPO 29/09/2021 30/09/2021 20/10/21 FPO 20/10/21 20/10/2021 FPI 20/10/21 FPO 25/10/21 FPO 26/10/2021 31/10/2021 20/11/21 F/FLOW 1/THESE 30/11/2021 21/12/2021 |
340.74 1,000.00 1,000.00 50.00 500.00 0.01 1,200.00 1,235.23 |
(25.00) (50.00) (39.00) (79.98) (920.02) (15.00) (270.00) (42.00) (574.00) (419.75) (18.00) (574.00) (574.00) |
Mystery payment not on August bank statements UK Firefghters SA CharityDonation Preston V + C E DonPreston Victoria Taylor MagentJosie 123-regLimited - website domain? Libbycredit cardpayment James Roscoe RAFYC TradingLimited Chufed donation 30.00 Payment for WOKC2019 Stripe payments Paypal check Payment to Helena Lucas,travel 123-regLimited - website domain Christopher Ryan - T - website hostingand email(Hostcat) Payment to Zoom Payment to Zoom Payment to Zoom Payment to Zoom Convert all Paypal currencies to GBP Payment to Zoom FORGN PYT EUR - Donationpaid to Magenta Ireland World Record Attempt Bank charge Paypal GivingFund - donation from Andrew Pindar Payment to Zoom Payment to Zoom Write of WOKC 2019 amount never received Payment to Zoom Payment to Zoom Payment to Zoom Payment to Zoom Printing CrazyLtd 30000000073912 212757 Christopher Ryan T- Hostcat website/email hosting Payment toZoom Payment to Zoom PayPal GivingFund UK Payment to Zoom PayPal GivingFund UK- crowd fund for mentorloop Payment to Zoom PayPal GivingFund UK- crowd fund for mentorloop MentorloopLTD - softaware for mentoing programme Payment to Zoom PrintingcCrazyLTD 200000000815940955 213239 PayPal GivingFund UK- crowd fund for mentorloop Payment to Zoom PrintingCrazyLTD 400000000836763198 213338 Withdrawal;transfer to LLoyds bank acc Transfer of PayPal GivingFund MentorloopLTD - softaware for mentoing programme inv 0071 MentorloopLTD - softaware for mentoing programme PayPal GivingFund UK- crowd fund for mentorloop Payment to Zoom Leyton Donation Payment to Zoom Payment to Zoom 300000000668727582 INV36459- |
(129.17) 129.17 166.00 (57.56) (14.39) (14.39) (14.39) (14.39) 66.16 (14.39) 1,000.00 (14.39) (14.39) (14.39) (14.39) (14.39) (14.39) (14.39) (14.39) 50.00 (14.39) 587.88 (14.39) 1,658.78 (14.39) 68.27 (14.39) (1,200.00) 195.80 (14.39) (14.39) (14.39) |
(31.92) | (12.55) | (23.28) | 1,000.00 (1,000.00) (1,000.00) |
1,000.00 (1,235.23) |
(340.74) (1,000.00) (1,000.00) (50.00) (166.00) (30.00) (500.00) (0.01) (1,000.00) (50.00) (587.88) (1,658.78) (68.27) (1,200.00) |
25.00 1,000.00 |
15.00 | 79.98 (79.98) 270.00 419.75 18.00 |
1.59 | 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 14.39 |
129.17 (129.17) 57.56 39.00 42.00 |
574.00 574.00 574.00 |
50.00 | ||||||||||||||||||||||||||
| $- |
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Exchange rates per HMRC
https://www.gov.uk/government/publications/exchange-rates-for-customs-and-vat-yearly
EUR AUD USD 12/31/2017 1.1266 1.7295 1.3528 12/31/2018 1.1141 1.8091 1.2736 12/31/2019 1.1705 1.8743 1.3114 ### 1.159233 1.826717 1.377525