Charity re£istÈred number: 1202506 MOSSBOURNE CHARITABLE TRUST CIO TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED31 AUGUST 2024
MOSSBOURNE CHARITABLE TRUST CIO COTr4TENTS PAGE FOR THE PERIOD ENDED 31 AUGUST 2024 Pages Legal and adtninistrative detatls 'Iruslees' Report Independent exaTniner's report Statement of firhan¢ial activitie5 Balance sheet No*s to the financial statements 9- 13
MOSSBOURNE CHARITABLE TRUST CIO LEGAL AIYD ADMINISTRATIVE DETAILS FOR THE PERIOD ENDED 31 AUGUST 2024 TRUSTEES Daniel Flitternian Gee Ki So Dr Shagayegh Javadzadeh Jennifer Il'atson CBE (Vice-chatr) upert Uloth Sylvit Pi¢rce MBE (Chair) EriL Geurge Reynolds Helen Kihtnm-von Preyss (appointed 19 March 2024) (appointed ?8 November 2023) (appointed ?8 Mxrch 2023) (appointed 18 March 20231 (appointed 28 March 20231 (appointed 28 March 2023) (appointed 28 March 2023) (appointed 28 March 20231 PRINCIPAL ADDRESS Mossbourne F¢deration 100 Downs Park Road Lorldon IPQDEPENDENT EXAMINER Tracey Young Haysmac LLP 10 Queen Street PlacE London EC4R IAG BANKERS National Westminster Bank PIC 250 Bishopsgate Londo EC2M 4AA CHARITY NUMBER 1202506
MOSSBOURf4E CHARITABLE TRUST CIO TRUSTEES, REPORT FOR THE PERIOD ENDED31 AUCUST 2024 The Trustees pre5eUt their annual report and the financial statements of Mossbourne Charitable Trust CIO, for the peri(Kl ended 31 August 2024. The Trustees confirm that the annual report and financÉal statenients comply with current llatutory requireTnenls. tl?E govemaii¢e requirements of the Charity and the provisions of the Statement of Recommended Practice (SOKP) applicable to ¢haritic% preparing their accounts in accordance with the Fillan¢ial Reporting Standard applicable in the UK and R¢publi¢ of lieland (FRS102) (effective l January 2019). Objetts Mos.%boume Charirable-I'Nst CIO exists to advance the cducation of pupils of Mossi)ourne Federation academies by supporting the Federatioll's eXt-CUrrl¢uIar and enrichment programmes. and awarding grants and prizes_ Our Airns Mossbourne C.haritAhle Trnst was establish¢d to support ihe range of co-curricular and enrichmtnt progr8mmes offered to students attending Mossbounie Federatloli schools. Mossbourne Federati a mulii-academy trust based in Hackney, East London. comprised of two primwy schools. two secondary 5Lhools and <1 Sixth Forni. Across the Federation.. Haifof the PUPTIS come frorn a disadvantaged background. These are children who are eligible for Pupil Premiuln, the government Brani given to schools io help c105e the educational attainment gap 5uffEred by the country's least privilegcd children. They niay b¢ cared for by the State or r¢¢eive freE school Ineals, or hawe eiiher be true in the past Six years. There are three lime5 more Children wilh 5pe¢ial edllcational needs than the national average. Over half of the pupils speak English as an additional language- for 30m¢ il is their thiFd or fourth language. The'fruslee5 work closely with the Federdiion 10 support a varted piogramme of enri¢hTneni activities ihat is acce55ible to all Mossb()ume Students, including th¢ Tt]ost disadvantaged, but are not funded by central and local governinent. The programineg the c.harity 8upports are designed to broaden >oung people's horizons while bwsting their confidence and rdiging their aspirations. These incliide.. Co-curricular clubs {e.g.. Architecture) Music {c.g.. individual and group lesgons) Sport {e.g.. Rowing) UniNersity bursai'ies Volunieer projects abroad The children participating gain skills that build on their academic aiiainrnent and help them prepare for the next stage of their live8. Ahove all, these programmes encourage personal growth and a love of learning that is t]ot limiled to the ¢lassroLIm. Funded Programmes and ActivitlÈ8 In 2023124: federation studentq benefited from the Chariiy's inve5ttnent in university and trav¢1 scholatships, and sport.
MOSSBOURNE CHARITABLE TRUST CIO TRUSTEES, REPORT FOR THE PERIOD ENDED 31 AUGUST 2024 Pro ramme Deseri tion Bourne University Scholarships tipends for three sludents who would be unable to attend university without finanfjial support. Grocers, Platinum Jubilee Scholarships Grants for two students to travel abroad duiing the summer holidays to work as volunteer5 on Community service projects. Mossbourne Rowing Academy In partnership with London Youth Rowing, the Federalion rnns a free rowing programme that gives student5 acce5S to a sport that promotes physical. social, and mental wellbeing as well as self- confidencE, re5ilien¢e amd teamwork. Financial review Result5 ofthe period During the financial period. the Charity has received incom¢ amounting to £60.800. of which the largest contributor was grant income of £55,800. In its first period uf optfdlion, the Charity raised £60,800 from three sources.. The Worshipful Company ofGrocers (£43,450); Sir Clive Iloume Foundation (£15.000)' alld 'Race The Thames. fundraising event (£2.3501 Expenditure totals to £29,604, of which the largest expense is the PaYent of scholarships. Ai th£ Balance sh¢et date, the Charity holds funds amountin¥ to £3 1.196, of which £14,746 is held in general unrestricted nds, whilst th¢r¢ are restricted funds carried foti¥ard of £16,450. Reserves poliey In the TN5tees' view, the r¢$erv¢s sh()uld provide the charity with adequate financial str&bility and the means for it io meet i(s charitable objectives for th¢ foresEeable fului¢. The Trustres propose to maintain the charity's reserves at a level which is at least equiyalenl tu six munths operational expenditu, approximately £14,000. Currenlly the level of free reserves is in line with the pulicy. Goillg coneern After aK-ing appropriate enquiries. the Trusiees have a reasonable ¢xpectation that the Charity has adequat£ resources to continue in operational existence torthe foreseeable future. l.gr thi5 rea50ri, they continue to adopt the going concern basis in preparincj the tinancial statements. Further dethils regarding the adoption of the going LonL¥tn basis can be found in the accoLintillg policies. Structure. governanee management C.on.stitutio Mos%boume Charitable Trusi was registered as a Charitable Incorporttted Organisation ILIO) on 28 March ?023. The (ioverningdoLuineni Iihe"CoThstitulion") seis oui the objects and powers of the Charity and governs th¢ actions of the frustees.
MOSSBOURIYE CHARITABLE TRUST CIO TRUSTEES, REPORT FOR THE PERIOD ENDED 31 AUGUST 2024 Recruitment and Appolntment of Trustees Trustees are recriiited aiid appointed in accordance with Section 10 of the Charity's Constitution, namely.. Apdrt frum the first Trustees, every "Irustee must be appointed for a tenn of three years by a resoluiion passed at a properly convened Tneeling of the TstetS or in writing. In selecting individuals for appointment as Trustces. the Trustees must have regard to the skills, knowled¢Fe and experi¢nLe ntttded for the efleciive administratiot) of the C.10. The following or¥anisation shall have the right to nominate candidates io be co57dered for appointment as Trustees by ihe Charity's Board.. The Mossbourne Central Federation Board For the avoidance of doubt, the Charity's Board retains full discretion as to whether to appoint a Trustee or not. Induction and training of trusl¢¢s The Trustees will make available to each new Trustee. on or before hi5 Qr her first appointm¢ni.' a copj. of th¢ ¢urrenl version of the Consiitution: and a cop) of the Charity's l&test Trusiees, Aiinual Report and ststemtnt of accounts. Organi$atÉonal and dteision-m#kingr structure Mussboume Charitable Trust is governed by a Board of Trnstees. who hold their roles on a voluntary basis. Management alld administration, including fLmdraiging, is delegated to the Philanthropy and Sponsorship Manager, who is in post 20 hour5 peT week and is based pan-time at Mossbourne Community Academy. Tlie TrL]Stees hold at least three meetings per ycar to. inier alia. rweivc and consider reports frvni the Philanthropy and Sponsorshhp Mallager. rcvicw the Charity's finances, and monitor the achitveinetit of the objectives of ihe Lliarity. On this basis ihc broad sirategy of the Charity. granr-making (IllLI risk Inanagement policies are also reviewed. The Chair is in regular contact wilh the Philanthropy and Sponsorship Mamakyer to review progress and CODtribute to the activities of the Chariry. Risk Management The Trustees have overall responsibility for ensurino that the Charity has an appropriate system of ¢ontrols. financial and otherwise. Regular board meeting5 well as meetings between the Chair and the Philanthropy and Sponsorship Manager are a key component of the risk management framework. During these meetings. risk5 faced b) the Lharity are carefullj. analysed and. if required, checks introdu¢ed. The Trustees are satisfied that systems are in place lo mitigate the risk5 id¢ntified. Risks that have been identified, and for which checks. and tnitigaiion measures have been put in place in¢lude'. Insufficient reserves. Unexpected loss tsf significant income source; and Loss of key volunieerdfailure to re¢r[t suirable staff. Public Benefit Statement The Trusiees confinn that they have COTnplied with the requirements of Se¢tion 4 of the Chariiies Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wale5.
MOSSBOURNE CHARITABLE TRUST CIO TRUSTEES. REPORT FOR THE PERIOD ENDED 31 AUGUST 2024 Future Ac¢ivitie5 Looking thead to the next financial and academic year. we plan to continue to fo¢us on the delivery of our core tnission of broadening horizons and raising aspiratjot]S through educational enrichment programmes. With the in¢rea8ing cconomic hardship experienced b). Federation studenrs and their familiES. we will continue to en5uie that all %tudcnts, including the most disadvantaged, are able to full} participate in progr<1TTrI¢s that stretch their leamino (Trutsid¢ thc classroom. We plan to achieve this by removingy the finanLial balerS that block their access to co-curricular and ¢nrichmeni opwrtunities. We also will look to rneet specific gaps in provision identified by the school. These include but are not limited to.. Careers guidance and wotk experience opportunitie5 Wlth ernployers from target Sectors such as Law. MEdia and Medicine- EdcatIOnal trips abroad. which are often prohibitively expen5iv¢ for our studenls but are so important in enriching classrootn learning and broadening horizons.. and Creative arts enrichments that have suffered from deep budget cuts. We expe¢t the main risk we will face will be in terms of fundraising. Indications are that we will be facing a difficult fundrdlSjtw Llimate with the continued economic downturn and the uncertainry 8pawncd by global event5. Hgwever. we are confident that we will be able io build an increasillgly diverse and sustsinabl¢ stream of income that will 5afe¥uard our ability to support programmes both in the short-tenn and in the longer terni. Stgternpnt of Trvstee$' Responsibilitie$ 'I'h¢ .1 TU5tee5 are responsiblc for preparing the Trustees, Report and the financial statements in acLI)rdanLe with pplicable law and United Kingdom A¢counting Standards {United Kingdom Generally Accepted ALLOUlltiiig Practice). Charity law requires the Trustees to prq>are financaal statements for each financial period which give a true and fair view of the state of affair% uf the Lharity and ofthe income and applicauon of resguIEe5, including the Tncorne and expenditure, of the charity for that period. In pParIn. thes¢ financiai statements. the Trustees are required Select suitable accountillg policies and ihtrn apply them consistently Observe the methods and principles in the Chdrities SORP Make judgements and estimates that are reasonable and prudeni Stale whether applicable UK Accounting siandards have b¢en followed. subject to any material departures disclused dnd explained in the financial statements and Prepare the findllcldl stlilements on the b>oing concern basis Lmless it is inappropriate to presume thkt the charity will continu¢ in business. The TtUStees are responsible foi keeping proper accounting rccoid5 that disclosc with rcasonable accura¢y at any tim¢ the fit]anrial position of the charit), and enables them to ensure that the financial statemen¢s comply with the Chariti¢s Act. They are also responsible for safeguarding the assets of the chttrity and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities. Approved by ord¢r of the members of the BoBrd of Trusiees on 03103130JS and signed on their behalf ylvi Tru51c Pieice MBE Date.. 03103 a)¥5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MOSSBOURNI CHARITABLL TRUST CIO FOR THE PERIOD ENDED 31 AUGUST 2024 I report to the Tru5tee5 on my examination of the accounts of Mossboume Charitable Trust CIO I'the Tiust'} for the year ended 31 August 2024, which are sel out ort pages 7 to 13. R¢s$1b11itlps and basis of report The tTUStees are rponSIble for the preparation of the accounts in accordance with the requirements of the ChaTities Act 2011 I'the 201 l Act"). The trustees are satl5fied that an audit Is not required for this year under section 144(2) of the Charities Act 2011 (the 201 l Act) and have chosen instead to have an independent examination. report in respect of my examination of the Trust's a¢counts as Caled out under section 44 {1) ( c) of the 2005 Act and section 14.5 ofthe 2011 Act. In carrying oui my examination I have followed th¢ requTr¢mentS Df the appliLabl¢ Dir¢Lliuns bjiveii by Ili¢ Ch<irity Conimission under section 145(5Xb) of ihe 2011 Act. Independemt ex#miNer's statement have completed my exalation. I confITm that no niaterial matter5 have come to my attention in connection with the examination giving me caust to believe that in any aterial re5pect= accounting records were not kept in respect of the TTUSt a5 required by 5eCtioll 130 of the Act., or the accounts do not accord with those records. or the at¢ounts do not comply with the applicable requirements conceming the fomi and comient of account% set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thai the accounts give a trne and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no oiher 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 lo be rea¢he(L Tracey Young ACA Haysmac LLP 10 Queen Street Place London EC4R IAG Date.. 4 March 2025
MOSSBOURNE CHARITABLE TRUST CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 AUGUST 2024 Restricted Fund5 Unrestricted Fund5 Total 2024 Notes Ineome fro. Donations and legacÉe5 40,800 20.000 60,800 Total incorne 40,8(M) 20.000 60.800 Expenditure on: Charitable activities Support costs 24,350 700 4,554 25.050 4.554 Total expendlture 24,350 5,254 29.604 r4et ]novefflent in funds 16.450 14,746 31.196 Reconeiliation ol fund.s: Total fLEnds brought forward Net movement ill ndS 16.450 14.746 31,196 Total fund carried forward 16,450 14,746 31,196 All amount5 are derived from continuing activities. The Statement of Finan¢ial Activities includes all gains and losses recognksed in the period. The note5 on pages 9 to 13 part of these financial statements.
MOSSBOURNE CHARITABLE TRUST CIO BALANCE SHEET AS AT 31 AUGUST 2024 2024 Notes Current assels Cash at bank 35.744 35.744 Current liabilities Creditors.. amounts falling due within one year {4.548) (4,548) Nel As$ets 31,196 Charlty funds UnTeslFiLl¢d Fund Restricted Fund 10 14.746 16.450 Total funds 31.196 These financial statements were approved and authorised for issue by the Trustees on on its behalf by.. 031031¥)aS and signed Sylvie Pi Trustee eMBE Date.. 031031303s The notes on paoe5 9 to 13 part of ihese finallcial stateTnents.
MOSSBOURh'E CHARITABLE TRUST CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED31 AUGUST 2024 I, General Information Mossbourne Charitable Trust CIO is a charilabl¢ incorporated orgajiisation, regiSred in England and Wale5. wilh the charity re8l5tr&tion number 12J2506. It5 IEgistered officE Mossbourne Federation, l 00 Downs Park Ro<id. E5 8JY. Th¢ principal objeciives of the Charity are set out within th¢ Trusiees. Reporr, on pa¢Te 2. 2. Statement of Accounting Policies g) Basis of 4ccountiThg The financial statements have been prepared in acrordanct of with th¢ Charities SORP IPRS 1021- Accounting and Rcporting by Charitie5: Statement of Recommended PraLlise applicable to charities preparing their accounts in accordance with the Financial Reporting Standdrd applicable in the L K and Republic of Ireland IFRS 102) leffectiwe l January 2019), and the Finan¢ial Repurting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charity meets lh¥ definition of a public benefit elltitv under FRS 102. A8set8 and liabilities are initially re¢ogni&td at hislorical cost or tfdnsaction value unless othetwlse stated in the relevant accounting policy. 1-he financial sl<ilements are presented in UK Sterling, which is the Charity's fvnctional CLLrrency, and rounded to the nearesl pound. b) Going Luntern The "I rustees asse55 whether thc llsc of going concem is appropriate. whether there are any mdterial uncertainties related to event5 Dr conditions thai may c&%t significant doubt on the ability of the charity to contitiue as a.ooing concern. I"he'lru5tees make this ass¢ssment in respect of a period of ai least one yeaT from the date of authorisation for issue of the fjnancial 51at¢ments and have concluded that the charity has adequate re5tsurces to continue in operation&] existence for the foreseeable future and there are no material un¢ertaintie5 about the charity's ability to conti11e as a goin¥ concern, thus th¢y continue to adopt the going concern basis of accounting in preparing the financial statements. c) Income All income 15 recognised once the Charity has entitlement to the income. it is probable that the income will be received. and the ainounr of in¢om¢ receivable can be measured reliably. d} Expenditure Expenditure is accounted for on an accruals basis and h&8 been included under expense categories that aggregat¢ all ¢osis for allocation to activities. Where costs cannot be directly attributed to panicular activities. Ihey have b¢¢n allocated on a basis consisteni w'iih the use of resources. Expenditure on rhariiable £tLlivities 18 incurred on directly undertaking the activiti¢s whEch ftsrther the charity's objectives. as well as any iSUllated support costs. Grants payable are paymeNt5 made to third parties in rtheranCe of the charitable objects af ihe charity. Grants are accounted for wheii either the rerbpieni a reasonable expectation that they will receive the grant. and ihe Trustees have agreed to pay th¢ grant without condition, or, the recipient has a re8sonable expectation tha( thev will receive a %ranl and any condilTOll attaching lo thc grani is Oulside of the control of the charity. All expenditure is inclusive of irrecoverable VA T.
MOSSBOURNE CHARITABLE TRUST CIO NOTESTO THE FITrIANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 e) Cash at Ballk and in Hand Cash at bank and in hand includes cash and short terni highly liquid iDv¢slTnentS Wlth short maturity of thrtt months or less from the date Df acquisition or opening of ihe deposit or similar account. Liabilities Liabilities are recognised when there is an obligation at the balallce sheet date as a result of a past event, it is prob&ble that a iransfer of econoTnic benefit will be required irt seLtlement. and tht amount of the settlement can estimated reliably. g) Fund Accounting Unrestricted Funds can be us¢4 in accordance with the entity's charitable objectives at the discretion of the Trnstees. Restricted Funds can only k used for particular restricted purposes within the obj¢¢ts ofthe Charity_ Restrictions arise when spe¢ifi¢d by the donor or when funds are raised for splfIed restricted purposes. h) Critical accounting &stimates #Dd ar$ of judgements Estimates and judgemenis are continually evaluated and are based on historical experience and other facti)rs, including expectaiions of tuture events that a believed to be reasonable under ihe ¢ircwn5tancc5. The charity does not currently have any 5ignifiw]t accounting esttmatcs or arcas of judgement. i) Fin#neial instruments The charity only has finaDcig1 assets and financial liabilities of a kind thai qualify as basic financial instruiTtellts. Basic financial instruments are initially recogni%ed ai transa¢tion value and subsequetttly measured at their scttlcment value. 10
MOSSBOURNE CHARITABLE TRUST CIO N(YfES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 3. Trustee5 RellerliTr and Expenses No munelI0n was patd or is payable either directly or indirectly for ihe period to any trustee or to any person or persons known io be connected with any of them. No reimbursement of expenses has been rnade or is due to be made to ally of the TTUSte¢s in respecl of the peri(Kl. 4. Staff Costs During the period, there were no staff costs. 'The I'rustees are Considered to be the only ke>. managelnent personnel of the Charity. S. Donation5 ond legaeles Restricted Unrestricted Total 2024 Donations rant received 5,000 35.800 5,OOU 55,800 20,000 40,81M) 20.000 60,800 6. Charitqble aetSvltles Restricted Unrestrieted Total 2024 Grants given S¢hola15hips awarded 2.350 22,000 2J50 22.700 7QO 24J5D 700 25,0511 7. Supporl costs Restrieted Unre5trided Total 2024 Bank charges IndepLndent exaininer's fees 4,548 4,548 4,554 4,554
MOSSBOURNE CHARITABLE TRUST CIO NOTES TO THE FINALYCIAL STATEMEP4TS FOR THE PERIOI) ENDED 31 AUGUST 2024 8. Creditors: Amounts falling dlle within one year 2024 Accrua15 4,548 9. Analysis of net assets between funds Restricted Unrcstrictpd Total 2024 Cash at bank Creditors due With1 one year 16.450 19.294 (4,548) 35.744 (4,5481 14.746 31.196 10. Summary of funds Total Funds 2024 lllcorne Expenditure Gencral funds Reslrictcd fundg 20,000 40,800 15.254) 124,350) 14.746 10.450 40,800 (14.746) 31,196 11. Analysis of Reslricted Fund5 Balanee At31 August 2024 Expenditure Tran5fer5 Arel)itccrui'e Fund Miisic Fund Rowing Fuiid Sixth Form Fund 7.8(K) 8,650 7.800 8.650 (2.i501 (22.0001 22,000 40,800 (24J50) 16,450 The programnles th¢ Charity supports are designed to bi'oaden young people's horizons, wliile E&)osiing their Gonfidence and raising their aspirations, by way of payment of scholarship and grant funding.
MO.k%BnURli E CHARITABLE TRUST CIO NOTE5 TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 12. Related party trdn5aCtiong There were no related paty trdnsactions during ihe financial period.