DSIgn Envelope ID." CE98C9D5-E9F1455A-A87C-34CC1862C67B THE MUSHROOM FUND ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2025 CHARITY NUMBER- 259954
Do(SIgn Envelope ID". CE98C9D&E9FI455A-A87C-34CC1862C87B THE MUSHROOM FUND TRUSTEES, REPORT FOR THE YEAR ENDED 30TH JUNE 2025 The Trustees present their annual report and financial statements of the charity for the year ended 301hJune 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 110 the financial statements and comply with the charity's trLJSt deed, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) OBJECTIVES AND ACTIVITIES The Trust has been established to make grants for charitable purposes. Grants are made only to charities known to the Trustees and unsolicited applications are therefore not considered. The Trust is administered by its corporate Trustee, Liverpool Charity and Voluntary Services. Public Benefit In planning the Trust's grant making the trustees have given consideration to Ihe Charity Commission's published guidance on public benefit. Achievements and Performance Investments have been managed throughout the year by the Investment Managers, with performance being monitored by the Trustees. The fund has therefore been able to provide a limited grant-making programme. Financial Review Investment income of £45,71912024'. £39,471) was received during the year. This funded grants of £42,900 {2024'. £33,085) to charilable organisations. Capital investments increased in value from £1,365.739 10 £1,372,463 12024= increased in value from £1,253,246 to £1,365,739) at the year end. Investment Policy and Powers The Trustees have the same full and unrestricted powers of investment in all respects as if they were the beneficial owners. The investment strategy is set by the Trustees and takes account of recent demands for funds and an assessment of expected future needs {see Reserves Policy). The investment policy and strategy are reviewed with the investment managers at regular intervals. The investment objective is to maintain, overall, the real value of capital and income. Risk Managernent The main risks lo which the charity is exposed as identified by the trustees have been considered and systems have been eslablished to mitigate those risks. Reserves Policy The Trustees are managing the reserves to balance the needs of current and future beneficiaries. It is not anticipated that the needs of beneficiaries will diminish over time.
Do9n Env81op8 ID." CE98C9D&E9F1455A-A87C-34CC1882C87B THE MUSHROOM FUND TRUSTEES, REPORT FOR THE YEAR ENDED 30TH JUNE 2025 The Trustees have in recent years approved expenditure al a level higher than the annual income to spend the revenue reserves. However, they have agreed to retain a balance of revenue reserves in order to be able lo make more substantial grants frorn time to time. Plans for the Future The objectives remain unchanged for Ihe future,. the intention is for continued investment management on a consislenl basis and distribution of income to charitable organisations. Structure, Governance and Management The Mushroom Fund is a registered charity, number 259954. It was established by a Trust Deed dated 19th November 1969. The Trust is also known as Sir Alastair Pilkington's Trust. Organisation, Management and Delegation The Trustees, in their power, have delegated the management of the investments and the administration of the charity, including adrninistration of grant-making and accountancy, to LCVS. The Trustees meet once a year to review the financial position and make grants. The Trust Deed permits the spending of capital., the Trustees have, however, agreed to retain the capital for the time being and to invest it to produce income lo make grants. REFERENCE AND ADMINISTRATIVE DETAILS Name Charity number Principal Office The Mushroom Fund 259954 LCVS 151 Dale Street Liverpool L2 2AH R. Christian R K Martin D R Morris Dr. J. Newton J C Pilkington H Powis Trustees
Dowwgn Envebpe ID. CE98egD5-E9F1-455A-A87ts34CC1862e87B THE MUSHROOM FUND TRUSTEES, REPORT FOR THE YEAR ENDED 30TH JUNE 2025 Liverpool Charity and Voluntary Services (LCVS), a corporate trustee, which is incorporated under the Companies Act as a company limited by guarantee without share capital as company number 181759, a registered charity, number 223485, and a charitable Trust Corporation. LCVS trustees, who are also ils directors, were as follows during the year. Dorcas Akeju Sonia Bassey MBE (Chair) Chrisloper Colwell Maxine Ennis Anna James Dr Rosie Kaur Anne Marie Reading Ken Perry John Price Michael Salla Louise S¢hole8 Gemma Shone James Sloan Neil John Sturmey Michael Thomas (Treasurer) Paula Sanchez ACCA Score Lane Liverpool L16 5EF R8thbones Investment Management Port of Liverpool Building Pier Head Liverpool L3 1 NW {Appointed 3rd June 2025} (Appointed 17th October 20241 (Appointed 17th October 20241 (Appointed 17th October 20241 (Resigned 2 September 20241 (Resigned 4th November 20241 (Resigned 2nd June 20251 (Resigned 30th June 2024) Independent Examiner Investment Manager
DOcsign Envelope10.' cEg8c9DEgF-4S5A-A87C-34Ccl862c87B THE MUSHROOM FUND TRUSTEES, REPORT FOR THE YEAR ENDED 30TH JUNE 2025 TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdorll Generally A¢pIed Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of reSoUrs, of the charity for that period. In preparing the financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., • observe the rnethods and principles in the applicable Charities SORP., make judgements and estimates that are reasonable and prudent., stale whether applicable accounting standards have been followed, subjecl to any malerial departures that must be disclosed and explained in Ihe financial statements., prepare the financial statements on the going concern basis unless il is inappropriate to presume that Ihe charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are 81$0 responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the Trustee, Liverpool Charity and Voluntary Services. DtsFuS&nèdbf. Mike Thomas- LCVS Trustee 10 Odober 2025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MUSHROOM FUND I report to the trustee on my examination of the accounts of The Mushroom Fund ('the charity,) for the year to 30th June 2025, which are sel out on pages 8 to 13. Responsibilities and basis of report As the trustee of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('Ihe 2011 Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my exarnination I have followed all the applicable Directions given by the Charity Commission under section 145151(bl of the 2011 Act. An independent examination does not involve gathering all the evidence that would bè required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, l express no opinion as to whether the accounts presenl a 'lrue and fair view, and my report is limited to those specific matters set out in Ihe independent examiner's statement. 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 reasonable 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 2011 Act., or 2. the accounts do not accord with those records-, or 3. the accounts do not comply with the applicable requirements concerning the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concems 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. Name.. Paula Sanchez Name of applicable listed body.. Association of Chartered Certified Accountants Relevant professional qualification or body.. ACCA Dale.. 13 October 2025
Dsign Env81op8 ID." CE98C9D>E$F1455A-A87C-34CC1862C87B THE MUSHROOM FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH JUNE 2025 Unrestricted Funds Capital Funds 2025 Income Funds 2025 Total 2025 Total 2024 Income from: Investments Notes 45,719 45,719 39,471 Total income 45,719 45,719 39,471 Expenditure on: Charitable activities 45,742 45,742 35,470 Total expenditure 45,742 45,742 35,470 Net {expenditure}lincome 123} (231 4,001 Net gain on investment 6,724 6,724 112,493 Net movement in funds 123) 6,724 6,701 116,494 Reconciliation of funds.- Total funds brought forward 77,476 1,365,739 1,443,215 1,326,721 Total funds carried forward 77,453 1,372,463 1,449,916 1,443,215 The notes on pages 9 to 13 form part of these accounts. The net movement in the funds in the year is derived frorn the continuing activity of the charity.
Dowsign Envdope ID.. CE98C9D5-EgF1-455A-A87C.34eC1862C87B THE MUSHROOM FUND BALANCE SHEET AS AT 30TW JUNE 2025 th 30 June 2025 30th June 2024 Fixed assets Investments Notes 1,372,463 1,365,739 Current assets Debtors Cash balances 80,089 79,950 80,089 79,950 Current liabilities Creditors (2,6361 12,4741 Net current assets 77,453 77,476 Net assets 1,449,916 1,443,215 The funds of the charity: Unrestricted funds Capital funds Income funds 1,372,463 77,453 1,365,739 77,476 1,449,916 1,443,215 Approved and authorised for issue by the Trustees and signed on their behalf by DoruSlyn¥dby'. Mike Thomas- LCVS Trustee Dated: 10 October 2025
Docuslgn Envelopè ID.. CE98C9D&E9F1.455A.A87C.YCQ1882C87B THE MUSHROOM FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2025 1. ACCOUNTING POLICIES Basis of A¢¢ounting The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant nolelsl to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102} (SORP 2019) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS1021 and Charities Act 2011. The trust constilules a public benefit entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial slalernents are rounded to the nearest £. The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update BuSlelin 1 not to prepare a Statement of Cash Flows. Going concern Al the time of approving the accounts, the trustee has reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustee continues to adopt the going concern basis of accounting in preparing the accounts. Investments In accordance with Statement of Recommended Practice.. Accounting and Reporting by Charities {SORP 2019), investments held as fixed assets are staled at fair value. Realised and unrealised gains and losses are dealt with as movements on the Capital Fund. Investments are valued at Ihe mid-market price on the valuation date. Fund accounting Unrestricted funds are considered 'free' reserves and are available for use or retention at the discretion of the Trustees, in accordance with the charity's objectives. Free reserves are undesignated funds available for the furtherance of the general objectives of the charity. Income recognition Income from investments comprises dividend income and interest and are accounted for when reiVed in the financial year. Donations are recognised at the earlier of notification or date of receipt, in the case of the third-paty donations and legacy income when reiVed by the organisation. Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, il is probable that settlement will be required, and the amounl of the obligalion can be measured reliably. All expenditure is accounted for on an accrual basis. All expenses, including support and governan costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.
Docusign Envelow ID.. CE98C9D5-E9F1-455A-A87ts34CC1862C87B THE MUSHROOM FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2025 Raising funds costs relate to expenses incurred in Ihe management of the investment assets. Charitable activities include grant funding, along with associated support costs, to beneficiaries. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity. Governance costs relate to compliance with constitutional and statutory requirements and specifically include all costs incurred by the charity in producing the Annual Report. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Inslrumer)ts' and Section 12 '01her Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured al the present value of the future reiptS discounted at a market rate of interest. Financial assets classified as receivable within one year are not amorlised. Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement conslilules a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective inlerest rate method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. io
tIo¢usign Envelope ID.. CE98¢9D5-E9F1455A-A87C-34CC1862C87B THE MUSHROOM FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2025 Taxation The charity benefits from various exemptions from taxation afforded by lax legislation and is not liable lo corporation tax on income or gains falling within those exemptions. Partial recovery is made of tax credits on UK dividend income. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT. Critical Accounting Estimates and Judgements In the application of the charity's accounting policies, Ihe trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There are not key estimates or judgements in the preparation of these accounts. 2. Income and endowments from: Income Funds 2025 Capital Fund5 2025 Total Total 2025 2024 Investments Investments dividends and interest 45,719 45,719 39,471 3. Expenditure on charitable activities: Direct Support& Total Total Charitable Governance 2025 2024 Expenditure Costs To provide grants for charitable purposes 44,424 1,318 45,742 35,470 Analysed as follows: 2025 2024 Direct charitable expenditure.. Grant funding Grant making administration costs LCVS 42,900 1,524 33,085 1,357 44.424 34,442 li
Dc¢usign Env4¢pe ID.. CE98e9D5-E9F1-455A-A87G34CC1862C87B THE MUSHROOM FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2025 2025 2024 Support & Governan costs.. Financial Adminislralion - LCVS Independent exarnination Trustees, expenses Meeting expenses 762 350 57 149 617 250 161 1,318 1,028 Total expenditure on charitable activities 45,742 35,470 During the year there was one trustee reimbursed for travel expenses of £57 (2024.. two trustees £161). The following grants were made during the year.. 27 grants were given out to charities Grants of £1,000 and over Friends Of St August Gsd German Shepherd Halton & St Helens Hummingbird Centre LCVS Donation Newlife Power Up To Play Saints IBrackley} Sarcoma Uk Southport Offshore St Helens Carers St Helens Foodbank St Patricks Church Thames Valley Air Welsh AirAmbulance Yellow Submarine 1,000 1,500 1,000 1,000 15,000 1,000 3,000 1,000 1,000 2,000 1,000 2,000 1,000 2,500 2,500 1,000 37,500 5,400 Grants under £1000 Total grants 42,900 12
DO(sIgn Envdope ID.. CE98C9t15.E9F1_455A_A67ts34CC1862C87B THE MUSHROOM FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025 TH 4. Fixed Asset Investments 2025 2024 Quoted investments: Market value at 1 st July 2024 Unrealised gain on investment assets 1,365,739 6,724 1,253,246 112,493 Market value at 30th June 2025 1,372,463 1,365,739 th Book value at 30 Jung 2025 496,498 496,498 The trust holds 100 /0 of its investments in a Charity Commission approved pooling scheme, the Settlors, Trust Fund {STF}, administered by Liverpool Charity and Voluntary Services and managed by Ralhbones Investment Management. At 30th June 2025, the assets of the STF fund had a total market value of £34,091,813 (2024.. £33,821,443) of which £1,372,46312024'. £1,365,739) is an asset of the trust. 5. Debtors There were no debtors during the year end 30th June 2025 (2024.. £nil) 6. Creditors 2025 2024 Administration & support- LCVS Independent examination fee 2,286 350 1,974 500 2,636 2,474 7. Unrestricted Funds Income Fund.. Investment income and donations received for distribution as grants to individual young people and charitable voluntary youth organisations. Capital Fund.. Funds held provide income for the on-going activities of the trusl. 8. Related Party Transactions Charitable Activities.. these include grant making administration costs of £1,524 paid to LCVS (2024.. £1,357), A grant to LCVS of £15,000. A grant of £3,000 (2024.. £4,000) was made to Power up to Play (Formerly known as Skipp Charity) of which Dr J Newton is a trustee. Support and Governance Costs.. these include £762 (2024.. £617) payable to LCVS in respect of accountancy and trust administration. Creditors.. these include £2,386 (2024.. £1,974) owing to LCVS al the year end. LCVS is related to the Trust by virtue of LCVS being the Trust's corporate trustee. No Iruslee received remuneration as part of their role as Trustee of the charity. 13