Mokaraka Trust Charity number 1197804 Constituted on 4 February 2022 111 Ashley Gardens, sw1p 1hj, London, UK
Date 1/1/2024
Annual Report and Accounts
Prepared and submitted by the Trustees of the Mokaraka Trust
Objectives and activities
This year was the first year of setting up our charitable trust. Our trust was constituted on 24 October 2021 with four trustees Melanie Smith, Stephane Jacques Francois Hebert, Christina Marie Hawley and Maria Eleni Moutsoupoulou who remain trustees at the time of this report.
The object of the charity is for the public benefit to promote the education (including social and physical training) of Maori and women in such ways as the charity trustees think fit, principally by awarding to such persons scholarships, maintenance allowances or grants tenable at any university, college or institution of secondary, higher, tertiary or further education.
The trustees meet regularly to determine potential channels to award recipients and (when required) review grant applications.
Achievements and Performance
We secured no additional donations from our trustees, having significant funds already in reserve.
The charity pays for no employees and pays for no trustee fees.
We reviewed our grant making policy – to enable as many successful applicants as possible, and decided to extend our support to AUT
We awarded 3 scholarships to Auckland University via the Mokaraka Scholarship to H, R and J.
https://www.auckland.ac.nz/en/study/scholarships-and-awards/findascholarship/mokaraka-maori-women-in-business-scholarship-1055-bus.html
We funded TB for his second to last year at Auckland University.
We commenced discussions with AUT about the provision of scholarships to potential applicants. AUT were unable to find any applicants
Financial Review
We received 0 in donations and dispersed £15,085 in awards
Our expenses this year were for limited expenses on IT, bank fees and a trustee meeting for £4312.94
The Trustees had loaned the trust some initial funds in year 1 to ensure we were ready to make grants, these funds were repaid this year (£60,000).
Given we had significant reserves we invested the surplus funds (£400,000) for a risk free interest rate
Structure and governance
The Mokaraka Trust is constituted as a Charitable Incorporated Association (constitution filed 25 January 2022). Our trust was constituted on 24 October 2021 with four trustees Melanie Smith, Stephane Jacques Francois Hebert, Christina Marie Hawley and Maria Eleni Moutsoupoulou who remain trustees at the time of this report.
Signed
M J Smith for and on behalf of the trustees
Mokaraka Trust Accounts
Charity number 1197804 Constituted on 4 February 2022
Income statement as at 1 January 2024
| Donations Awards Dispursements Net |
01/01/2024 0 -15085 -4394.39 |
|---|---|
| -19,479.39 |
Cashflow statement as at 1 January 2024
| Opening cash Awards Dispursements Trustee loan repayment Surplus reserve investment Closing cash |
563,848.00 -15,085.00 -4,394.34 -60,000.00 -400,000.00 |
|---|---|
| 84,368.66 |
Balance Sheet as at 1 January 2024
| Cash at hand Creditors Investments Unrestricted funds |
84,368.66 0 400,000.00 |
|---|---|
| 484,368.66 |