Trustees’ Annual Report for the period
From 04 November 2023 To 03 November 2024
Charity name: The Minekte Foundation Charity registration number: 1192552
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The Trustees shall hold the capital and income of the Trust upon trust to apply the income, and all or such part or parts of the capital, at such time or times and in such manner to, or for the benefit of such Charities or such exclusively charitable purpose according to the laws of England and Wales in any part of the world (Objects) as the Trustees may in their discretion think fit. |
| 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 |
In furtherance of the charity’s objects for the public benefit the trustees provide grants. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | In determining the charity’s activities the trustees have had regard to the Charity Commission’s guidance on public benefit. |
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Para 1.38 Other
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 | During the year under review the charity made grant awards totalling £102,709 to the following charities: Macmillan Cancer Support Unicef Elephant Group |
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Review of the charity’s financial position at the end of the period |
Para 1.21 | At the end of the reporting period the charity had reserves of £2,574 (2023: £5,836). In addition to the free reserves the charity has bank balances of £20,980 (2023: £401,962) and investments valued at £352,287 within the endowment fund. The Trustees pursue a policy of maintaining a free reserve available to be spent in the furtherance of the charity’s objectives as well as covering future needs, opportunities, contingencies and risks. |
|---|---|---|
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | |
| Amount of reserves held | Para 1.22 | |
| Reasons for holding zero reserves |
Para 1.22 | |
| Details of fund materially in deficit |
Para 1.24 | |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 |
Additional information (optional)
You may choose to include further statements where relevant about:
The charity’s principal sources of funds (including any fundraising) Para 1.47 Investment policy and objectives including any
social investment policy adopted Para 1.46 A description of the principal risks facing the charity Para 1.46 Other
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | The trust is governed by trust deed dated 03 November 2020. |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Trust |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Trustees are appointed by the Settlor during their lifetime and subject to this by the trustees. |
Additional information (optional) You may choose to include further statements where relevant about: Policies and procedures adopted for the induction and training of trustees
Para 1.51 The charity’s organisational structure and any wider network with which the charity works Para 1.51 Relationship with any related Para 1.51 parties Other
Reference and Administrative details
| Charity name | The Minekte Foundation |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1192552 |
| Charity’s principal address | Trustee Department 1stFloor, Tower Wharf Cheese Lane, Bristol BS2 0JJ |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Michelle Curran | ||||
| Ludlow Trust Company Limited |
||||
– Corporate trustees names of the directors at the date the report was approved Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) |
|---|---|---|
| Type of adviser Name Address |
||
| Investment Managers | ||
| Bankers | ||
| Accountants | ||
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
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) Position (eg Secretary, Chair, etc) Date |
||
|---|---|---|
| Chris Thurlow | ||
On behalf of Ludlow Trustee Company Limited |
||
02 September 2025 |
||
02 September 2025 |
The Minekte Foundation 1192552 Receipts and payments accounts CC16a For the period Period start date Period end date To from 04.11.2023 03.11.2024
Section A Receipts and payments
| A1 Receipts | Unrestricted funds to the nearest £ - - 4,993 7,602 - - - - 12,595 - - - 12,595 102,709 600 3,231 241 - - - - - 106,781 - - - 106,781 (94,186) 90,924 5,836 2,574 |
Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Endowment funds to the nearest £ 45,310 9,625 - - - - - - 54,935 340,000 - 340,000 394,935 - - - - - - - - - - 684,993 - 684,993 684,993 (290,058) (90,924) 401,962 20,980 |
Total funds to the nearest £ 45,310 9,625 4,993 7,602 - - - - 67,530 340,000 - 340,000 407,530 102,709 600 3,231 241 - - - - - 106,781 684,993 - 684,993 791,774 (384,244) |
Total funds to the nearest £ 45,310 9,625 4,993 7,602 - - - - 67,530 340,000 - 340,000 407,530 102,709 600 3,231 241 - - - - - 106,781 684,993 - 684,993 791,774 (384,244) |
Last year to the nearest £ |
|---|---|---|---|---|---|---|
| Additions to trust | - | 102,700 | ||||
| Gift Aid | - | 25,675 | ||||
| Income from invesmtents | 4,993 | - | ||||
| Income from interest | 7,602 | 6,361 | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| Sub total(Gross income for AR) |
12,595 | 134,736 | ||||
| A2 Asset and investment sales, (see table). |
||||||
| Sale of investments | - | - | ||||
| - | - | |||||
| Sub total | - | - | ||||
| Total receipts A3 Payments |
||||||
| 134,736 | ||||||
| Grants awarded | 102,709 | 33,333 | ||||
| Accountancyfees | 600 | - | ||||
| Trust adminstration fees | 3,231 | 3,092 | ||||
| Cash management charges | 241 | 525 | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| **Sub total ** | 106,781 | 36,950 | ||||
| A4 Asset and investment purchases, (see table) |
||||||
| Investmentpurchases | - | - | ||||
| - | - | |||||
| **Sub total ** | - | - | ||||
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end |
||||||
| 36,950 | ||||||
| (94,186) | - | (290,058) | (384,244) | 97,786 | ||
| 90,924 | - | (90,924) | - | - | ||
| 5,836 | - | 401,962 | 407,798 | 310,012 | ||
| 2,574 | - | 20,980 | 23,554 | 407,798 |
CCXX R1 accounts (SS)
01/09/2025
1
Section B Statement of assets and liabilities at the end of the period
| Categories B1 Cash funds B2 Other monetary assets B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets |
Capital account Income account Details Total cash funds (agree balances with receipts and payments account(s)) Details Details Investment Portfolio Details Details |
Unrestricted funds to nearest £ - 2,574 - 2,574 OK Unrestricted funds to nearest £ - - - - - - Fund to which asset belongs Fund to which asset belongs Fund to which liability relates |
Restricted funds to nearest £ - - - - OK Restricted funds to nearest £ - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - Amount due (optional) - - - - |
Endowment funds to nearest £ |
|---|---|---|---|---|
| 20,980 | ||||
| - | ||||
| - | ||||
| 20,980 | ||||
| OK | ||||
| Endowment funds to nearest £ |
||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| Current value (optional) |
||||
| 352,287 | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| Current value (optional) |
||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| When due (optional) |
||||
| - | ||||
| - | ||||
| - | ||||
| - |
Signed by one or two trustees on behalf of all the trustees
Signature
Date of Print Name approval 02 September 2025 Chris Thurlow On behalf of Ludlow Trustee Company Limited
CCXX R2 accounts (SS)
01/09/2025
2
Independent Examiner's Report to the Trustees of The Minekte Foundation
I report to the charity trustees on my examination of the accounts of the charity for the year ended 3 November 2024.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
02 September 2025 Geoffrey Frost BSc(Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY