CHARITY NUMBER 1184664 MAGSONS FOUNDATION TRUSTEES. ANNUAL REPORT AND RECEIPT AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31 JULY 2025
MAGSONS FOUNDATION CONTENTS Reference and administrative details of the Charity and its Trustees Trustees, Report Independent Examiner Report Receipts and payments account Statement of assets and liabilities Notes to the flnancial statemelltS 7-11
MAGSONS FOUNDATION CHARITY INFORMATION Reference and Administrative Infr)rmation CharSty name Magsons Foundation Charity registration number 1184664 Prlnclpal Office Unit 19 Wainwright Street Aston Birmingham B6 5T1 The Board of Trustees H Nathwani (Chairman) S Saba S Ramachanatt
MAGSONS FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31JULY 2025 The Trustees present their annual report together with the receipt5 and payment5 accounts and statement of a5set5 and liabllities of the Magsons Foundation Ithe charity) for the year ended 31 Julv 2025. The Trustees confirm that the annual report and the receipts and payment5 accounts of the charity comply with the current statutory requirements, and these accounts have been prepared on a receipts and payments basis in accordance with the Charitles Act 2011 and the applitable Regulations. STRUCTURE GOVERNANCE AND MANAGEMENT Constitution The charity was registered with the Charity Commission on 30 July 2019. The registered charity number is 1184664. Method of appointment or election of tru5tee5 Trustees are elected by existing Trustees. Organisation structure and decision making The day to day management of the charity is undertaken by the Chairman and Treasurer. The charity is governed by its Board of Trustees which is responsible for formulating the strategies and policies of the charity. The Trustees who setved during the year were.. H Nathwani Ichairmanl S Saba S Ramachanattu Risks The Trijstees have identified the major risks to which the charity is exposed and have implemented system5 and procedures to manage those risks. OBJECTIVES AND ACTIVITIES Objectives The charity's objectives are to make grants for the benefit of the advancement of health or savlng of lives disability and the prevention of relief of poverty. The Trustees confirm that they have complled with their duties withln 2011 Charities Art and have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's alms and objectives and in planning future activities. Activitie5 During the period the charity received donations from IndlvSduals to make grants to a charity based Sn Africa. The Foundation benefited from personal donations and grants from public and private organisations.
MAGSONS FOUNDATION TRUSTEES, REPOftT FOR THE YEAR ENDED 31JULY 2025 FINANCIAL REVIEW Incomlng resources for the year were £81.460. Resource5 expended were £97,625. NÈt loss for the vear was £16,165. The net assets ol the charlty were £5,296. Reseyves Pollcy The charlty has a reserve policyto retaln £10,000 for usè as emergency funding whlch tnay be used to fulfll commltments where there Ss a shortfall. STATEMENT OF TRU TEES, RESPONSIBILITIES The Trustees are responslble for preparlng tlie Trustee's Report and ihe flnancial statèments in accordancowith appllcablp law and Unlted Kiiigdom Accountingstsndards (United Kingdom Generallv Accepled Accounting PrdctlLel. Charity law requ15 the Trustees to prepare accounts for e8ch financial year. The Trustees have elected to prepare the accotsnts on a receipts and payments b8sls, which Is pe¥mlsslble for charitles witl) a gross IncomÈ of £250,QOO or le55. In preparlng thèsè 3tcounts, tho Trustees are requlred to., Select suitable accountlng pollcles and then apply them con51stently Make judgements and &stlmates that are reasonable and prudent. State whether thE accotsnts h8ve been prepared In aGwrdance wlth the Charltles Act 2011 and appllcttble Regulations, subject to any material departures diselosed and explained In the report The Trustees are responsible for keeping proper accountltr)g records that disclose wlth rÈason8ble accuracy at any tlme the financial posltlon of the charity and enable them to ensure thatthe financial statements comply wlth the Charltles Act 2011, Charlty IAccounts and Repottsl Re8ulation$ 2008 and the provlsions of the trust deed. They are also responsible for sateguardlng the asse15 of the charity and hence for taklng reasonable steps for the prevention ènd detpction of fraud and other This reportWa5 approved by the Trustee5 on 28 May 2026 and signed on thelr behalf bv,. H Nathwanl Ch8lrman
MAGSONS FOUNDATION INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 JULY 2025 Independent Examiner's Report to the Trustees Magson5 Foundation I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 July 2025 which are set out on pages 5 to 11. Responslbilities and basis of report As the charity'5 tru5tee5 you are responsiblè for the preparation of the accounts in accordan¢.è with the requirements of the Charities Act 20111'the Act'l. You have chosen to prepare the accounts on a receipts and payments basis. I reElOrt in respect of my examination of the charity's accounts carried out under sectlon 145 of the 2011 Act and ill carrying out my examinatlon I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's Statement I have completed wny examinatiori. I tonfirm that no material matters have come to my attention lother than that dlsclosed below ') in connection with the examination which gives me Cause to believe thht in, any material rèspect.. accounting records were not kept in respect of the charity as requlred by section 130 of the Act,. or the accounts do not accord wlth those record5. or I have no cOnrn5 and have come acr05S no other matter5 in connectlon wlth the examination to which attention should be drawn in thi5 report in order to enable a proper understandirbg of the accounts to be re3¢hed. Signed.. Manjinder Singh Sahota IICAEWI Date- 28 May 2026 On bèhalf of RMY Clement5 Llmited Sterling House, 71 Franci5 Road, Edgbaston, Birmingham, B16 8SP
MAGSONS FOUNDATION RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 JULY 2025 Note Unrèstrl£tod fundj R9¥tt•d lunds 2025 Totsl 2024 Totsl Income from.. Donations Charlble activities Other 81,460 81,46D 8.993 31.460 81,46D 8,993 ExpendlWl•On', Charitsble activites 97,625 97,625 32,118 97,625 97,625 32,118 Net IP&ntUreI IiTricomeforthp 16,1651 16.1651 123,1251 Re¢ondllallon offundB Total hJnd5 brought forward 21061 21,461 44586 Fund balBftC*1 th• •nd ofth4 yoar 5,296 5.296 21,461
MAGSONS FOUNDATION STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31JULY 2025 ZOZ5 Z024 No19 Flxed aJ&oI$ ¢MrrEnt émets Debtor5 Cash at barkk In hend 5,296 21.46l 5.296 21A61 Ci<d(tOT41 amounts f8lline duewlihin une yeai N&t ¢urroDt4l¥Ets 5,296 21,461 Totsl autetg lets118bllttla¥ Ll.461 ReiervES Unrestrictèd fund5 Restrlcted funds 5.295 21,461 Total lund8 5.296 21,461 The notes on pages 7 to 11 form part of the annual I"eport. Approved by the BoaTd ofTiustee5 on 28 May 2026 and slgned on its behalf by,. H Nathwani Chairman
MAGSONS FOUNDATION NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31JULY 2025 I Prlncipal accounting pollcles Basis of preparation Magsons Foundatlon is an unincorporated charity in the United Klngdom. The principal office 15 given in the charity information page of these financial statements. The nature of the charilies operations is to make grants to organisations for general charitable purposes of the advancement of health or saving of live5 disability and the prevention of relief of poverty. The charlty constitutes a public benefit entity. The financial statements have been prepared on a recelpts and payments basis. The financial Statements are prepared in sterling which 15 the funcllonal currency of the charity. Fund accounting Restrictedfunds Restricted funds represents grants and donation5 whlch are subjectto restriction5 on their expenditure Imposed by the donor or through the terms of an appeal. Unrestrlcted ond designutedfund5 Unrestricted funds represent fund5 thot are expendable at the discretion of the Trustees in the furtherance of the objects of the charitable entity. Such funds may be held In order to flnance both working capital and capital investment. Designated funds are those which are unreslrlcted in naturè but which have been designated by the Trustees to be used in a particular manner. Magsons Foundation has a reseNe policy to retain £10,0) in sums as emergency fundingi but if a commitment has been made to another charity then the emergency funds may be used to fulfil such commitments.
MAGSONS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31JULY 2025 Incoming resource5 and resources expended All incoming resources and reSoUrS expended are included in the receipts and payments account and recognised on a receipts and payments b351S. Charitable expendSture comprises those costs incurred by the charitable entity In the delivery of its activitles and services for its benèficiaries. Support costs include those costs ass(>ciated with meeting the constitutional and statutory requiremer)ts of the charitable entity and include accountancy fees and costs linked to the strategic management of the charitable entitv. All costs are allocated between the expenditure categories in the income and expendSture Statement on a basis designed to reflect the use of the re50urEe. Costs relating to particular activity comprise both costs thal can be allocated directly to such activities and those costs of an Indirect nature nÈtessary to support thern. 2 Donations 2025 2024 Charitable donations 81,460 8,993 81,460 8,993 Of the above income, £81,46012024- £8,993) was attributable to unrestricted funds and £Nil 12024- £Nill was attributable to restricted funds.
MAGSONS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31JULY 2025 3 Total resource5 expended CorA 2025 2024 Totsl Evq? Support GrBntspaid FundraiSin8Aawmes Bankchar8es sundry 97.3 97,30D 52,067 225 225 51 loo 97,625 97.625 32,118 Of the above expenditure, £97,62512024 £32,118) was attribLttable to unrestricted funds and £Nil12024- £Nill was attributable to restricted funds. 4 Trustee and key management personnel and remuneratlon and expenses No trustee received any remuneration during the year. No trustee or any other person related to the charitable entily had any personal interest in any contract or transaction entered into by the charitable entity in the year. 5 Funds 4ln¢• In¢omlng Rwourc4S Expended QIJ>B.2024 Tr•Mf 31.07.2025 Qo*l¢rtot•dAund• EmErgeDcyfundin8 14,7041 lo00 14,7041 5,296 11.461 81,460 197,6251 21061 81N6LF 197fv251 5,296 There were no restritted fund5 during the period. Whllst at the period end the emergency furid was below the stated amounts, the trustees are working to ensure this was replaced and rectified post year end.
MAGSONS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 5a Funds- Prioryear InEgmS R•tsureA 01 31.07.2024 01.Q8.20Z3 Exp•nd•d TFanBkn EtneTynryfundin 10,DUD iojxx) S486 4993 IiN61 44,5¥6 8,993 {311181 21.451 There were no restricted fLrnds during the period. 6 Analysls of net assets between fund5 UnTe$trf¢t•d FuTrdJ R*tdct4d F¥ndi Z025 Totsl 202 Yotsl Fe1 assets et currentaSSEts 5,296 5.2S6 21fi61 5.296 5.296 21ft61 io
MAG50N5 FOUNDATION NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 6a Analysis of nÈt assets between funds- PrÉor year Vnteytrfctsd Fundi Restrleted FundJ 2024 Total 2023 Fixcd as$ets Netcyrrent assets 21.461 21.461 44,586 21.461 21N61 H,586 7 Related party transactions There are no related party transactions to note. li