Charlty rggislration numbgr 208074 THE MYLNE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Caladine Chartered CerliFied Accountonts
THE MYLNE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Truste B Danie15 H Mcconnell R Picken G Riggs I C S8rgeanl FCA Ichairrnanl Rev O Uffindell A Ntsak&$ Clerk to the Trngt8•• R Twinlng Charfty numb•r 208074 Prlnclp•l addT089 Goldings Wor1dham Hill Eost Wortdham Hampshire GU34 3AT Indep•ndent examlnèr John Calgdine FCCA CTA FCIE Cal8dine Limil&d Chantry House 22 Upperton Road EÈ8tbourne East Sussex BN21 1BF BAnk•rn CAF 8ank 25 Kln9s Hill Avenue Kin9s Hill Wesl Malling Kent ME194JQ Invg8tmgnt Advl•or8 Investe¢ Vveallh & Investment 2 Poole Road Bournemouth BH2 5QY
THE MYLNE TRUST CONTENTS Paye Truslees, report ststem&nt of Tru51ee3' re8pon$ibi1rt1&8 Indop8ndenl examlnovs report Statement of finanoal act1vl*S Stat•menl of flnanc481 posttlon Nolei8 to the finand818taternents 8-13
THE MYLNE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustoes present thelr snnu81 report and financial statements ftTrr the year ended 5 April 2024. The financial staternents have bèen pl8pad in accctrdance with the accounting policies set out in note 1 to the financial statefflenl8 8nd comply with the charity's governing documènt, the Charities Act 2011 and "Aecounling and Reporting by Charities.. Statement of Recommended Practice applieable to charities prep8rin9 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffecliva 1 J8nvary 20191. ObJ?ctlve8 and actlvlties The ch8rity wos cre8led under the Will and Codicil of Jessy Louisa Mylnè who died on 3 March 1940. Since 27 April 1970 the ch81ity Is governed by a Scheme of Regulation approved by the Chancery Divlsion of th2 Court of Justice. The ygarfy Income of the Charity and If thought fil any part, ol Ihe capllal thereof shall bp appled al the dlscrellon ol th& Trustees for the beneffil of such persons of either sex and who are of hove been engagBd in avangeli51ic work Including retired Missionaries or Missionaries slill ongaged as such 01 continuing Christian Vvorkers ol any other description a8 the Trustees In thelr Absolute discrellon 5h811 from lime lo time Select and in such sh8rg5 and proportions an¢J such a manner in all rèspects as the Tiu$lees in such discrelion $h811 from time tc* tlrn8 think flt, No person sh811 be eligible for any btrngfit under thls ch81ily unless he or she shBII be a Protestant in religlon and whol8 he8rtèd believer in the Deity of Chrlst and the full inspiratiori ol Scripture. The Trustees shall have absolute discrelSon with resp8Ct lo every person selected Bs 8fore8ald eilher to PAY any such Incom8 or ¢apilal as aloregald direct to him or hef or lo apply the samè lor his or her mainl8nan¢g and personal support or otherwise lor his or her bengfil In such manner as the Trustees Shall think fil. Publ1¢ bengflt In exercising their absolute dlscrelion In th• s8lectlon ol benefidaries and ltte deployment of t1 Trust'5 income 8nd cap81, the Trustees regard the underlying objective of the Tiusl lo be the 8dv8ncemenl of Protestant ChrSslianily by the partlcular means of supporting Protestant Missionaries and Chrisli8n VVorker6. The al¢1 beneflclarles are selecttrd without unfair di5crirninalion and they, through their evangelistic work and their appllcation of the belief in, and pradlce of, Christian pdnclples. 8dv8nce Protestant Chri$b"anily lo, and for Ihe beneflt of, 811 p8ople, wilhoul restrictlon. In dlsch8rging their dutles as Trusl&e8 ol the Mylnè Tmgl they have tsrniliarized Ihemsefves with the Ch8rhy Comm1551on's guidancè on publie beneffil, particularly th81 which relate5 to the edvancemenl of rgligon, and are Batisfied that the TrLJsI's 8Ctivitie5 continue to qualify rt for charitable 518lu$. The Tw81ees believe that the objects ol the Trusl are mel most effeclivply and it6 funds are uged lo maximum benefit by Ihtr provision of financial support lo needy and able students duiing their study ol the Trligious 1?9chings and pra¢ts'¢g5 of Protestant Christianity in preparalion for their subsequent mission8ry and outreach work. A¢hlevements and perlomi4nco Ourin9 2023-24 the Tru51ees hpld 4 Ordinary meellngs and an AGM. All of the rneetings were hekl al the Spire Church. Farnham. During the year, the Trust received 206 applications for granis requesting grants arrounting to a total value ol £288,735. The Trustees paid out £103,150 lexcluding fees payable lo CMS-A) in grants to ¢oiefvlly selected benefici8ri&$ rnainly in the UK And Alric8. Durin9 2023-24 the Trustees awarded 129 grants 10 Students who 8pplied through CMS-Africa, which arnounled 10 £81,251 and 22 grants to applicant8 who applied directty amounting to £24,900.
THE MYLNE TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 The Trustees have received B number ol application5 for grants durlng the year as a result of Ihelr partnerships wlth YWAM. and Th8 Methodist Mission IMMI The partnerships with these organisalltsns, enable them to recommencl potenffjal, ellgible beneffici8ri88 wh¢x4e CAr¢utnstances and qualrtles are kn<>wn to them. The Tiustees have received 8 number ol applications for grants during thg year as a result of ther partnership wlth OCMS (Oxford C8ntre lor Mission Studie51 and during the course ol the year provided 8 grants amounting to £17.000. The partnership v411h OCMS was originally for 3 ye8r8. Both parties have agreed lo conllnue with the relationshlp. The Trust partnerthip wlth ICMS-A) has continued lo devek)p and improve. In April 2019, the Memorandum of UndeTStanding behveen both partles wgs renewed. Flnanclal revlew Th8re was an operating surplus of £58.072 lor the year. There were realised gains on investmen15 sold in the year of £223,363, with unieallsed Ios8 01 £82,828 815th April 2024. The8e sums are adSusted in the fund balance cgrr4èd forward. The Trustee8 are resolved to ensure thal Inwmts Is expended upon lh& objects of Ihe thorfly, taking one year with gnother. Structure, governincfr and managamgnt Thg charity wa8 CTe8led under the Will Bnd Codlcll ol Jessy Loui88 Mylne who died on 3 March 1940. Sln¢8 27 April 1970 tho charity is governed by a Scheme of Regulotion approved by the Chancery Divigicin ol t Court ol Ju8lice. Tru•t•o9 The Tnjslees who 6èrved durlng the year were.. B Danio18 H Mcconnell R Plcken G Rigg8 I C Sarge8nl FCA IChaiman} Rev D Ufflnde ANtsgkes Trustees are 8ppolnted by a m8jority vote of the existing trugleas. The Tru8lee$ of the ch8TMy 8h811 be one ex offlcio Trustee - the Rector lor the lime being of the Parish of Farnham - and not more than six ¢ptatIVe Trustee5 being persons residenl within a radius of fifty milo9 of Farnham in the County of Surrey. The Tru$te¢9 may by resolution from time to lime appoint new or adthlon81 c oplallve Twslees provided that the total number of co-oplalive Truslees shall not al any tlme exceed six. The Trustees are mlndftjl of the increase in the number ol applicants and consequently the 51gnificant increase in the time that Ihey a¥e having lo spend on Trust Business. Also to aid succession planning, Trusle&$ agreed and passed a resolution, in January 2024, to increase the number of co-opled TruslèÉs from 6 to 8, The Trustees meet Several times a year. 85 necessary, lo make strategic decisions and ovèr58e the work of the trust. An item on Ihe Agenda for every Tru81è89 meeting is lo review Ihp regulatory and legislative requirements on Charities.
THE MYLNE TRUST TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 The adrnini8lratlon of the trust w98 managed in accordan with the TrustePs' diieclions by Robin Twining 8S Cleik to the Trustges. An ittsm on the A9enda for every Trustèes meetlng is to review the regulatory and legislative requffements o Charflies The inveglmenls aro managed undgr 8 discrelion8ry agreement with Invesl&c Wealth & Investrnent who durTng the ¢ourse of the year merged with Ralhbon&s. Thg Trust's financiol affair5 afe monitoied by Mr J Caladine, as Independènt Examlner. Since 2008 the Truste85 have employed the services ol the Church mI85nIry Soclely Afri( ICMSA} to dlslribule the payments which havtr been awarded lo beneflciarles in Africa. The Tru8tees have as$e85ed the molor risks to whlch the char(ty Is exposed, and ere satisfied that Systems aro In place to mitigBtg exposur& lo the major d5k8. Inve8tm•nt pow&r¥lrgvlew The Trust's only source ol lunds is ils investment porfollo. Uftder the governin9 document the charity has Ihe pow8r to rnake any inveslment whlch th& Iruglees 8ee rtt. The tru5te&g have giv8n the inv&$im¢ni 8dvisors discretlon lo man8ge the portfolio wlthin an agreed sk profile. During 200718 th8 trustees inslructeij thoir investment advisors io disp03e of any investment$ in compan$ who$e main adivi1Ses related lo tobacco or gambling B ThJ not lo invegl in such compani05 In the future. ThlB polty wag reviewed dur9 2019 8nd11 wa8 agreed that Ihe portfolio manager$, should h8ve no con31r8int9 imposed on where Ihey can Invest Ihts portfolio and th81 thèy should be released from the restriction8 not to invesl in toba¢co and 98rnbling shares. The Trustees when selting the budget lor 2023-2024, h8ve budgeted for a conlinLted reduction in the income that 11 normally received from Ihtr invtslment portfolio prior lo the stsrt ol the Covi&19 pandgmlc. The Trustees preferred $lancF is to ktsep the level tsl gr8nl distribution al the 8ame level as In tT¥ViOUS yO8rs and to accept that this will mean that there will be an excess of expèndliure over the dividend InMe Trceived. The exce8s wll be m61 by realislng 8 small proportion ol the ¢apilal. The Trvslee8' report was approved by the Bo8rd of Trusleg8. I C Sarg•ant FCA Ichalmianl Trustee Dated.. 9 July 2024
THE MYLNE TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 5 APRIL 2024 Law applicable to charities in England ond W8les r8quires the Trustees lo prepare accounts for each financial yEar whlch give a trtje and fair view of the charity's finonelal actlvSlle$ during the year and of its fin8n¢ial position at the end of the year (unless the charity is onlilled to piepare accounls on the altemative rept$ and paymonts bBSiS1. In prep8rlng 8¢¢ounl8 givin9 a true and fair view, the Tnjstees should follow best practice and.. select suitable accounting policies and then apply thom con8islently', make judgements and estimates that are reasonable and prudent", - $¢918 wh?th•r applicable Bccounting standards and statements of recommended practice have been followed, subject lo any depBrture8 discloyed Bnd explained in the 8CCfJunt5', prèpare the gccount$ on the golng concarn basls unless 11 1$ Inapproprlale to presume that the charSty will continue In operation. The Trugtèes Brè rè9ponslblè for k8eplng aecountSng rectrrd8 which disclosè wrth reBsonable accur8Cy the finonclal poslllon of th8 charily And whlch ansble tham to 8nsur8 th8t thè 8ecounl8 comply with the applicable18w. They are also responsible for 88leguarding the 8syels ol the ch8rrty And hencè lor taking r&asonable steps for the prevention and delecllon of fraud and other irregu18rllles.
THE MYLNE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MYLNE TRUST I report to the Tiuslees on my examlnation of the fin8nclal slalempnts of Thg Mylne Tru81 Ilhe charity) for the year ended 5 April 2024. RPon¥1b11[t1e8 and ba•ls of r•port As the Trustees of the charily you are re5ponsiblB for the preparation of the financial staternenls in accordanc& wilh Ihe rtrquirernenls of the Ch8ritie3Acl 2011 Ilhe 2Q11 Act). I report In respect of my exarninallon of the chaiily's financial statements carrtad out under section 145 of the 2011 Act. In carryin9 out my e¥8min81ion I have followed all tho applicable Direct3 given by the Char*ly Commi58ion under $8Ction 14515llbl of the 2011 ALX, Ind¢pendgnt 8umlnerf¥ 8tatom¢nt Your att&nlion is drawn lo the fact that Ihe charily has prepared financial stslemenls In aOrdantte wllh AccDLtnllng and Reportlng by Charities preparlng their account$ in accordance with the Finan¢ial Reporting Standard appllcable rn thè UK and Republic of Ireland IFRS 1021 in preference lo Ihe Accounting 8nd Reporting by Ch8rilies'. Slalernenl ol Recommended Practice issuerj on 1 April 2005 which Is fef¢rred lo In the extant regul&lions bul h85 now been wilhdrawn. l understand that Ihl8 h88 been done in order for financial stslements lo provlde a trLt& and fair vlew in 9ccordanc wllh Gener811yA¢cepledAccoLtnllng practi effgctiv& for reporting p&rtods beginning on or alter l January 2015. I have cornpleled my 8x8min81ion. I confirm that no matter$ have come lo my attention In connectlon with the gxamination givin9 me cause lo belleve that in any malerlBI r&spe¢t', accounting record5 were nol kept in respect tsl the charity as requlred by section 130 of the 2011 Act.. or the financial statornenls do nol accord with Ihose records., or Ihtr fingncial $lal&rnent$ do nol comply wlth the appllcable requlrernenls coftcemlng the fom and contgnt of a¢¢ounl8 sel oul in the Charllie6 (Accounts and Reports) Regulations 2008 other than any requirement Ih8t the gccoun18 give 8 Irue and fair view which is not a matt¢1 con$idered a¥ part of an Independent ex8minatlom. I have ftD concems and havo Come across no other m&llers in connection with the 8x8minalion lo whieh attention 8hould be dr8wn in thi$ report in order lo enabl8 a proper undersl8nding of the fin8ncig18tstem8nl$ lo be reached. John Ciladl CCA CTA FCIE Caladine Llmit&d Ch8Tilry House 22 Upporton Road Ea$tt)ourne East Susgex BN21 1BF Dated.. 9 Juty 2024
THE MYLNE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5APRIL 2024 Vnre8trlctgd Unrestri¢ted fundg fund¥ 2024 2023 Notsg Income from: Investments 50,135 39,380 Total Incom• 50.135 39,380 Exp?ndlture on: Ch8rf18ble actSvlll•s 132,598 123,264 Total expendlturo 132.598 123,284 Nel g8inBII10860sI on inve$tment8 140,535 1132.7201 Net Incomo1{•xpendlturel and mov•ment In fund• 58.072 1218,6041 R•con¢Ill0n of fund•.' Fund balances ot 6 Aprfl 2023 2,050,233 2,28e,837 Fund balanc0• 01 5 Aprfl 2024 2,108,305 2,090,233 The stgtement of flnon¢i818cts'vilB includ86 all galns ond losses recognis&d in the year. All income and expandlture derive from wntsnuing aclNi1188.
THE MYLNE TRUST STATEMENT OF FINANCIAL POSITION ASAT5APRIL 2024 2024 Notes 2023 Flxod a¥89ts Investm&nls 10 2,007,209 1,978,329 Curr•nt as¥•ta Money m8rket inve8lmeni Cash at bank and in hand 50.cxjo 53,986 S0.OC 24.584 103,968 74.584 Current Ilablllt5•4 11 12.8901 12,6801 Net current 08sets 101,096 71.904 Total 48•et• le•$ current Ilabilltlo8 2,108,305 2,050,233 Income fund8 Unrestrlcled fundg 2,108,300 2,050,233 2,108.305 2.050.233 Thtr Ilnanoal 91alem8nt9 were approved by the Tru81ees on 9 July 2024 I C Sarge8nl FCA (Chairman) Tru•t•e aniels u$teo
THE MYLNE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 A¢¢Ounng pollcle¥ Chgrlty informatlon The Mylng Trust is a ch8rit8ble Iru$l govgrned by trust deed and has a princip81 address ol Gddings, Worfdham Hill. East Worfdharn, Hampshir8, GU34 3AT. 1.1 Accounllng convontlon The accounts have been prepared under the hi8toric81 cost convention. The financlal $1olements have departad from the Charrties (Accounts and Reports) RulationS 2008 onty to the exlenl requlred to provide a IrLJe and fair vlew. This departure has involved following the Slatem8nl of Recornmondèd Practice for charities applying FRS 102 r8ttter Ihan th8 version of the Slat?ment of Recommgnd8d Pr8Ctlce which l¥ rgtsrred to In the Regul8tion8 but which h&$ 8ln¢e been wrthdrawn. The flnanclgl stalemenls are prepared In sterling, which Is the functional currency of the ¢h8rity. Monetary amounts In Ih8se financial statements are rounded lo the neare81 £. The accounts hav& been prepared under the historical ¢o$l convention. The princlpal 8c¢ounling poScie8 adopled are sel out b¢lpw. 1.2 Golng con¢•rn At th8 Ilme of approving the fln8nci81 statements, the Truslees have a re8sonoble expect81iL)n Ihot the ch8rfty has adequate re50ufceg lo conlinue in operalionel existence lor the foreseeable future. Thus the Tnwees continue lo adopt th8 golng conc&m basis ol accounting In preparing the financial statements. 1.3 Ch*rllabl& fund$ Unreslridèd funds gre 8vo11gble lor use al the dlscretion of the Trusleas In furthefanc@ of thelr chadlabl& objeclivg9. Restrfct8d fund8 are sublect to speLlfic condlllon$ by donor8 or grantors a8 lo how they may be used. The purpo8eg 8nd u9es of the restricted fund5 are set ovl In the nole8 lo the fin8ncial $181emvnt$. Endowrnenl fund8 grè 9ublect to 8peciflc condltlons by dunors that the capltal must be rn8inlaingd by the 1.4 Incom• Income18 recognised when the ¢harily is legally enlilled to il after any Performan condhlons have been mèl, the gmounl3 can be me8$ured reliably. and il 1$ probable that Income wlll be received. C88h donations are re¢ognised on receipt. Other donations are re¢ognlsed once the charity hBS been notified of the don8tion, unle55 perform8nce condition3 requlra deferral ol the amount. Income lax recoverab5e in relation to donations received under Gift Aid or deeds of ¢ovenanl is recognised at the time of the donation. Leg8cie3 are reeognised on r6celpt or otherwise il the ¢harity has been n(rtifled of an imp8nding dislribution, the amount Is known. and rec8lpt is expected. 11 the amount 15 nvl known, the legacy is treated as 8 conlin9ent asset.
THE MYLNE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies Icontlnuedl Expenditure is recognised once there is a legal or (x)nstrudive obligation to Ir8n5fer economi¢ benefit to 8 third party, it is probable that 8 transfer of economlc benefit$ wlll be required in settlement, and the arnount ol IhB obligetion Can be measureil rellay. Expenditure Is cla8sified by activity. The costs ol each activity are made up of the total of dir&1 cos15 and shared costs. including 5uppori costs involved in undertaking each activity. Direct costs atlribut8tAe lo a singl¥ aclivlly 8Te allocated directly to that aclivily. Shared costs which conlrlbul lo more than one aclivily and support C175t5 whlch are not attributable to e slnglg 8cliwty 8re apportion8d btheen those activit8 on 8 basis consistent wlth the use tsf resour¢$. Contral staff cos18 are allocated on the basis of tlme sp&nt. and depreciation ch8rge5 are allocated on thB portlon of th• asset's us8. 1.5 Non-current Inv•strnpnts Fixed asset investments are Initially measured al Iran5aclion price excluding transaction costs, and are sub5equenlly measured al fair value al each reportlng dgle. Changes in lair value are feeognis8d in n81 incomel{expendllurel for the year. TrAns8Ction costs are expensed as IncurT8d. 1.6 Co•h and cash •qulvalont• Cash and cash &quivalenls Include c86h in hand, deposits held al call with banks. other short-torm liquld investments with original maturities of thrg? month5 or1gs8, 8nd bank overdr8ft$. 88nk ov6rdraft3 are shown wlthin borrowlngs in currenl118bilille8. Bas1¢ Ilnancl•l ass•ts Basic fi'nancl81 &58e15, which include Ifade and other r8celv8bles and cash and bank balanc&$, are Initlalty measur6d at transaction priea Includlng trangaclion costs ond are subsequèntly carried al amortl8ed cosl using Ihp effective interest method unle85 the arrongemenl con8111ule8 8 financing Iransadion. where thg Iran8aclion Is Measured Bl the psent valu¥ of Ihe future rgcelpls discounted al a market rate of Snleresl. Finan¢lal assets classlfied Bs recelvable within one ye8r 8re not amortised. B•sl¢ flnanclal Ilabllltle¥ Bas flnancial liabllitie8, including Ir8de and othgr payables and bank loans are In111811y recognis8d al Iransaclion prlce unless the Brrangemenl constllules a financing Iran8acllon, where the debt instrument is measured at the present Value ol the future payments digcounled at a market rate of inlpfesl. FiTiancial 11gbllitle8 da85ffied as p8y8ble within one year are not omort15ed. Debt inslrum¥nt8 are sub5equgnlly Carried al amortised cost, using the effective Snleresl rale method. Trade payables are obllgalion5 to pay for goods or services that havè been acquired In the ordinary course of operations from suppliers. Amounts pay8ble are classified as current li8bilities il payment is due withln one year or less. 11 not, they are presented as non-currenl liabllilies. Trade payables are recognised iFiiti&lly at transacOon price and subsequently rneasured at amortised cost using the effective interest method. 1.7 Fund The Trust gperales the one g¢neral fvnd whlch IB unrestrlded. 1.8 Taxotlon The Trust has charitable status and is exernpt frtsm corporation lax on the income il has received.
THE MYLNE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Crftlcal Accounttng g¥tlmats¥ and judgements In the application of the charity's accounknng policies, the Trvstees ale required to make judgements, Stiffl&tes 8nd assurnption5 about the carrying amount of 8ssels and liabilities th81 are not readily apparent from olher sources. The estltM8tes and associated assumptions are based on hlstoric81 experience 8nd other factors that are considered to be lolevant. Actual results may differ from these &stlmales. Th8 8Stim8tg8 #nd undertying assumptlon6 ièview8d on gn ongoing b88iB. Revisions to accounting 6stlm8teg are recogni3ed in the period in which the estimate is revised where the revision affects only that period, or In the paiiod of the rovislon 8nd future periods where the revision affects both QUnI and future periods. Incom• from Inv08tments Unrnstrlcted Unr•8trlcted fund$ fundg 2024 2023 Income from Ilsled Invgslmenl8 Interest recelvable 31,408 18,727 28,439 12,941 50.135 39.380 Expendlture on ¢harltsbl• a¢dvltl•8 Charltablg •ctlvltle• Charltabl• odlvi1198 2024 2023 Dlrg¢t ¢0gts Grants CMS fe9$ 103,150 5,9DO 93,792 6.387 109.050 100.179 Share of gupport and goveman¢e ¢o$ts (see note 51 Support Goveman¢e 21,688 1,860 21,345 1,740 132,598 123,264 Analysis by fund Unipstrirted funds 132,598 123,264 10-
THE MYLNE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Support cogts allocatfrd to actlvlt•es 2024 2023 Management fees Brokers. charge Sundry expenses and bank charge$ Governancg costs 4.281 16,901 3,762 17,172 411 1,740 1,820 23,548 23,085 Charltable aclivi1188 23,548 23,085 Govomanc• costs c¢mprl•8'. 2024 2023 Accounancy Independgnl &xaminatlon 1,460 360 1,380 360 1,820 1.740 Tru•lqes None of the Trugle•$ lor any per8ons connected with them) oceived any remunerallon in 202312412022fd3'. £nll). Employe Th&re wer8 no employees durlng the year. 2024 Numbvr 2Q23 Number Tolal 11
THE MYLNE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Galn¥ and los•e8 on Inv•stments Unrestrlcted Unrnstrict•d funds funds 2024 2023 Galnslllos8e818ri8ing on.. Revaluation of inve8lments Sale of investments {82,8281 223,363 1223,196) 90.476 140,S35 1132.7201 Taxatlon The chartyls exempl Irom taxaon on Its ocllvilOe9 bBCaUS8 &11 ils Income opplied for ch8rttable purpose8. 10 Flx•d a•s•t Inv••tm•nt• Li¥t•d Inv•stm•nts Co•t or valu4tlon Al 6 April 2023 Addition8 Valuation than9e9 Dl$poBals 1,978,329 599.605 182,8281 {487,8971 Al 5 April 2024 2,007.209 Carrylng Amount Al 05 April 2024 2,007,209 At 05 April 2023 1,978,329 11 Currfrnt IlAbllltte• 2024 2023 CredStors and Accruals 2.890 2,680 12
THE MYLNE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 12 Unrestrletsd lund The unrestricted lund5 of the charity ¢omprise the unexpended balances of donations and grants whith are not subject to specific conditions by donors and granlors a5 lo how they m8y be used. These Include designat8d fvnds which have been set aside out of unresllled funds by the trustees for specific purposes. Al 6 April 2023 Incoming rggources Resourceg expended Galn$ and losses At 5 Aprll 2024 G&ngral lund8 2,050,233 50,13S 1132,5981 140.535 2,108.305 Prevlou¥ year. At 6 Aprfl 2022 Ineoming Re$ourc98 expend•d Ga5n¥ ond loJ8es At 5 Aprll 2023 General lunds 2,266.837 39,380 1123,2641 1132,7201 2,050,233 13 Related party traC¥ The were no disclogabl& related party transa¢tion8 durlng the ye8r12023. none). 13-