Charty Registration No 1184949 THE MAHAN CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS RECEIPTS AND PAYMENTS BASIS FOR THE YEAR ENDED 5 APRIL 2024
THE MAHAN CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trugte•s K BrUcSmIth L Gibson E Wdlsh Charlty number 1184949 Principal address 3 Lincoln's Irbn Fields Lond United Kingdom WG2A 3
THE MAHAN CHARITABLE TRUST CONTENTS Page Trustees, report Independent examinerfs report Inccme and expenditure Balance sheet Notes to the financial slalements
THE MAHAN CHARITABLE TRUST TRUSTEES. REPORT For the year ended 5 April 2024 The Trustees present their report and fin3nc5al statements lor the year ended 5 April 2024. The financial slateryenls have been prepared In accordance 1h Ihe accounling pdicie5 set out In note 1 to the IinanciBI slalemenls and comply with the Trusl's Trust Deed and the Chanties Act 2011 Objectlves and actlvlties The charity's objects are to apply Ihe Income and capital of Ihe Trust for the tsenefil of such exclusively Chafltable obsects and purposes (charitable acGording to the laws ol England) In any part ol Ihe world as the Trustees May In their d15cretion Ihifjk lit The Trustees have pai(J due regard lo guidance issued by the Chariiy Commission in deciding what activities the Trust should undertake. Achievements and performance The Irusi is registered wth Ihe Charily Cornmission and HM Revenue & Cusloms. The Tiusl hcls been successful in r8ising addi'.IOTial commilmenls lor fundiTrg froffl Its donors and continues lo undertake charilable funding. Flnanclal review The fin3ncial position Is sel out In the Sialemenl of Financial Activities and the Truslees are satisfied wilh the results lor Ihe yeai ano the posrtion ot the Trust al the year en¢Y The accounts which are produced on a recèiots and payments basis reflect funds al the balance sheet dale of £50.01512023 £61 1921. A04itionally gift aid dornai ons were processed 10 further Increase funds by £5.500 which was re¢eived after the year end Al the balance sheet dale the Trst has not made future funding commilrnen15 The Trusiees ensure Ihai available lun¢Js togeiher with future corrrnilled funds are available 50 as lo be eonfidenl that any liabilities can l)e met as they fall due and the charity can conlinue as a going concern Slructuret governance management The Charity was established by a Charitable Trust Oeed on 26 February 2019. The Trustees who served duThng the year and up to Ihe dale o151gnature ol the financial staiemenis were.. K Bruce-smilh L Gibson E Walsh Appointrneni ol Trustees will be by way of a perw undertaking the role of Founder or in Ihe absence of a Founder by the Trustees. Appointment of Tvvstees is conssdered on Ihe basis of the requirernen15 of the charity and the skills and expertise that each Irustee would bring. The Trustees in consultation wilh Ihe FoLJr,ders comprise the key managerDent of the charity in charge of directing and controlling, runniryg and operating the chaTlty on a day to day ba515. Meetings ol the charity occur quarterly or at such other frequency as Ihe Ttustees tnay consider suitable In the circumstances of the charity. The Trustees have assessed the major risks lo which the Chanty is exposed. and are satisfied that Sy5terns are In place to rnitigale exposure to the major risks. Page 1
THE MAHAN CHARITABLE TRUST TRUSTEES. REPORT (Continued) For the year ended 5 April 2024 The Trustees, report was approved by the Board olTrustees. L Glbson Trustees Dated. 15 October 2024 Page 2
THE MAHAN CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MAHAN CHARITABLE TRUST I report tu the Trustees on my examination ol the finanaal statements of the Mahan Chanlable TIu5t (the Trust) for the year year ended S Apnl 2021. Responslbllltles and basls ol report As the charity irustees ol the Trusl you are responble for the preparation of the accounls in accordance with the requiremen15 01 the Charitie5 Act 2011 1.the Act"). I report respect of my examination ol the Trusts, accounts carried olrt under sections 145 of the 2011 Act and In carrying out my examination. I gave followed the apiCable directors givens by the Charity Commission under section 14515lb of the Act. Indepènd•nt examlner's statement I havè completed my examination I confirm Ihat no maltefs have corne to my attention In conneclion with the exarn,'nalion giving cause 10 believe Ihal In any maierial respect acetsunling record$ were not Kepi In respect of Ihe Trust as required by section 130 of the 2011 Act, or e financial statements do no accord wrth those records. I have no concerns and have Gome auoss no other mailers In connection wltt the examination to which attention should be drawn In this report In order lo enable a proper understanding of the financial 8ialement5 lo be reached. Andrew Grieve FCA Moore Kingston Srnilh LLP 9 Appolcl Sl, Lon(Jon London EC2A 2AP Dated 15 October 2024 Page 3
THE MAHAN CHARITABLE TRUST INCOME AND EXPENDITURE ON A RECEIPTS AND PAYMENTS BASIS For the year ended 5 April 2024 Unre5trlcted Unreslricled fund5 funds 2024 2023 Note5 Income and endowment5 from- Donations and legacie5 Other income 83.153 2920 110 Total Income 86.073 110 Ex e.ndlture on.. Gr3n15 and donation5 paid Legal and professional lees Bank charges Independenl examiners fee5 30,421 3,822 63,70 6,115 2.580 1,800 Total charltable expendlttsre 36 825 71,622 Net Incomell•xp*ndltur¢l for the yearl Net movement In lunds 49,248 171,5121 Fund balances al 6 April 2023 767 72,279 Fund balances at S April 2024 50.015 767 Page 4
THE MAHAN CHARITABLE TRUST BALANCE SHEET As at 5 April 2024 2024 2023 Notes Current assets Cash at bank and In hand 77,141 26,651 Creditor5'. amounts falling due wilhln one yèar 127.1261 125,8841 Nel current 8SSÈts 50,015 767 Income funds Unreslricted funds YJ.015 767 50,015 767 The financial statements were approved by the Tru51Èes on 15 October 2024 Gibson Trustee Page 5
THE MAHAN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 5 April 2024 Accounting policies 1.1 Accounting convention The financial slalemen15 have been prepared in accordance wlh the Trust's Trust Deed and the Charities Aci 2011 The accounts are prepared In sterling. which 15 the fvnciional currency ol the cornpany Monetary amounts In Ihese financial statements are rounded to the nearest £. The account5 have been wepareL1 under receipts and payrrenls bas15. 1.2 Golng concem At the time of approving the accounts, the Trvstees h8ve a reasonable expectation that the Trust has adequate resources lo continue In operational existence for the foreseeable futJre. Thus the Trustees, coniinut t¢ adtspl ltte going ClCern basis of accountin9 In preparing the accounts 1.3 Charltable funds Unreslricied funds afe available lor use ai the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been desigvaled for other purposes 1.4 Cash and cash equivalents Cash and cash eqLJivalent5 Include Ga5h in hand. deposits held al call banks. other short-lerrn liquid investmen15 with original rnalurities of three months or less. ano bank over(tiaft$. 8anK ¢verdrarts are shown Wllttin boTrowings in cuirenl Iiabililie5 DonatSons and lega¢l¢s 2024 2023 Donations and gifts Gift ai(J 22.000 61 153 83.153 (Xher income funds 2023 Olhei Income 2.920 Page 6
THE MAHAN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 5 April 2024 Charitable activities 2024 2023 Legal and professional fee5 8apk charges Independent exam¢ners fees 3,822 6,115 2.580 1.020 Grant funding ol activrties (see note Sl 30,421 73,375 30,421 73.375 Legal and professional fees include5 £720 paid 10 the Independent Examiner for tax and gift aid servlc8S. Grants payabl• Grants and donatlons poid 2023 Grants lo In51itulions Universily of Notlin9ham 30,421 63 706 30.421 63,706 Trustees The Trustees are mernbers ol Ihe law fimi Sindair Gibson LLP which was remunerated In accordance with the term5 of the thaniable Trust Deed £3.102 12023. £3.4201 Indudin9 VAT. Employees There were no employees during the year Creditors.. amounts falling due wrihin on• yèar 2024 2023 other creditors 27 126 25.884 Page 7