Chai'ity registration nuinber.. 264621 Mabel Cooper Charitable Trust Annual Report and Financial Statements lor the Year Ended 30 June 2024
Mabcl Cooper Charitable Trust Content8 {continued) Refercnce alld Administrative Details Tru5tees' Report 2to4 Independent Auditors, Report 5t08 Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements I to 18
Mabel Cooper Charitable'frust Reference and Admini.strative Detai18 Trustees Mr l A HarbDttle MTS P A Barjett Mr D J I larbottle Charity Registration iyumber 264621 Prirkcipal Offite Middl¢ Manor Lascot14ill Wedmore Somerset Auditor Fuller & Roper Lirnited Chartcred AG¢ounts and Statutory Auditor5 12 Old Mills Industrial Estate Paulton Bristol BS39 7SU Inve5tMent mxnager Quilter Cheviot Three Teniple Quay Templt Way Bristol BSI 6DZ B#thkers Bank Of SGotland PIC Po Box 17235 Edinburgh E1411 IYH Page I
Mabel Cooper Charitable Trust Trustees, Report The trustees present the annual T¢port together with the financial %tatcJnents of the charity for the year ended 30 June 2024. The irustccs have adopted the provisioiis of the Statement of Recon)mended Practice ISORPI 'Accounting and R¢portirtg by Charities" iii pr¢parirtg the annual report and financial statttnents of the charity. The financial staternents have been preparcd in accor(fante with the accounting policies set out in notes to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accvunting and Reporting by Charities.. Stat¢menl of RecoinTneiidtd Pra¢¢iee applicable to charities prcparing their accouiils in accordance with the Financial R¢porting Standard applicable in ihe UK alld Republi¢ of Irelat]d published in October 2019. Objectives artd gCtivitie5 Objects und aims The obj¢¢t ol. Ihe charity is to 5UPPOrt charitable projects that aTe approved by th¢ Trustees in accordance with the Trust Deed. It is the Trustees general policy to distribute all of the income of the fund in cach year. where pos.qible. Fundraisi8 di.fc105ures The charity does not carry out fllndraising activities, instead it relies on in¢ome gencrated from lis investments to fund its aclivities. Public btftefii The Tnain activity of the chaTlty is that of givillg grants to other charitable eniities. The giving of these grants help5 to further the charity's purp05e5 for the public benefit. The irllstees confirm that they have complied with the requirements of se¢tion 17 of the Charities Act 2011 to have due regard to the public b¢nefJt gllidance piiblished by the Charity CoTnrnission for England and Wales. mokingpolicies The Trustees have ultirnate collective responsibility for all grant making de¢isions in line with the charity's charitable purposes. Grants air nortnally only considered on Te¢eipt of a forinal application via ali appropriate Institutioii. Grants are awarded entirely at the discretion of the Trustees and their dccisioD i% final. Achi¢Yements And perforMte The cliarity has generatcd income fToni Its irtvestment5 during the year, from which it has awarded grants totalling £126,00012023 £127,500) to other chaTltable institutions. During the year the charity generated £257,52512023 - £184,528) of investnient income. This figuTe is made up of dividend5 rcceived of £106,409 (2023 - £95,2421, reali5td gains on disposal of investments of £146,396 (2023- £89,286) and deposit interest received of £4,27012023 £nil). Fingncial r¢wÉ¢w Policy on resErv¢s At tlie year end date the chaTity had urtresrricted funds of £6,617,60012023 £5,885,275). The level of funds in reserve is mvnitored and reviewe(I by the trustees aniiually and at present are considered adequate for the requiretnent5 of the eharity. Page 2
Mabel Cooper Charitable Trust Trustees, Report (continued) Invesimefrtlpolicy und vhjÉceEve5 The ti"ustees have a policy to generate a sustainable return to fund annual giant makiiig whilqt maintaining the capital value of thc charity's assets. During the year the charity Teali%ed gains of £146,39612023 £89,286) to support the charity's grallt tnaking activities. The charity's inv¢5tn)ertt objcctive is to produce the best financial return possible within an acceptable level of risk As of the ycar end date, the charity's inve5tmeni perforniance was it] line with this objectives. Plans for future perÉods The trustees intend to continue the charity's grant-making activity. Trllstees and officers The trustees and offiGers serving during the year and since the year end were as follow5.. I'ru5tees: Mr l A Flarbottle Mr5 P A Barrctt Mr D J FlaTbottle Struotllrey goverN#nce and Enan#gement Jvoture o[goverKing document The charity wa5 ¢5tablished by a trust deed dated 27 June 1972. The charity'5 registration number is 264621. Recpuiiment appoirt¢meRt ofirusieÉs I'he power to appoini and reniove Tru%tees rest5 Wlth the existing Trustees. On agrc¢in¥ to become a Trustee of the chaTity* the Trustees are thoroughly briefed by the existing TTUStcts on the constitution of thc charityj the day-to-day Tnanagement. responsibilities of the Trustees, the current objectives aiid future plan5. Orgllnisolionalslructure The charity is controlled by the Trustee5 who take all decisions it] accordance with ihe Trust Deed. Mojur ri.fks monogÉmertl of those rESks Thc Trustees have a55essed the major risks to which the charity is exposcd. and believe that effectsve systems and controls have been establish¢d to mitigate those risk5. Stlltement of Trustces, Responsibilitie8 The trustees are responsible for preparing the trustecs, report and the financial stat¢Tnents in accordance with the Unit¢d Kingdom Accounting Standards (United Killgdom Generally Accepted Accounting Pra¢ticel and applicable law and Tegulations. The law appli¢able to charities requires the trustees to prepare financial statemcnts for each financial ycar which give a true and fair view of the state of affairs of the charity and of the incoiniiig resollrccs and application of re5vurces of th¢ charity for that period. In preparing these financial statements, thc trustees arc required to.. select suitable accounting policies and then apply them consistently; observe the methods and prin¢iples in the Charities SORP. make judgements and estimates that are reasonable and prudent., Page 3
Mabel Cooper Charithble Trnst Trustee5' Report (continued) State whether applicable acc4)unlin8 Standards heve been followed, subject to any matcrial departures disclosed and explained in the fLnan¢ial 5tstements' and PT¢par¢ the finonciaS stal¢ments oll the goirtg ¢on¢¢rn ba51$ unless it is inappTopri&(e to presum¢ that thc ¢harity will conlirtlle in busines5. The Irust¢¢s Hre re5PU]Lsible for keeping proper accounting rOrdS that disclose with r¢asonable accur8¢y at any tim¢ the fin4nci91 position tsf the ¢harity And enable them to ¢nsur¢ that the financial siaiem¢nl$ coznply with the Charities A¢t 2011, th¢ Charitie5 IAc¢ounl$ ènd Reports) R¢gul8tions 2008, and the provisions of the ¢onstituliort. The fnute¢5 are also tesponsible for safeguarding ihe a55¢ts of the ¢liarity and hence for taking r¢ason8ble Steps ftsr Iht pr¢v¢n¢ion and dett¢iion of fraud Bnd other irregulaTItL¢5. The trustees are re5pon5iblc for the mailiteiiance fynd ifjiegriry of the corporate and financial infomthlion included ort the charitable rompany's w¢bsiie. L¢Blation goveming th¢ prEpuation and di5s¢mination of rJnan¢ial 5titen)ents may diff¢r from legislation in other jurisdictio. 36-4-2< The annual report w*% approva by t1 tnjstees of the oharity on................. . and si8ned ott its behalfby.. Mr l A Harbottle Trusi¢e Page 4
Mabel Cooper Charitable'frust Independent Auditor's Report to the Members of Mabel Cooper Charitable Trust OpitLiOn We have audited the financial statements of Mabel Cooper Charitable TIu5t (the 'chai'ity') for the yeai. ende(130 Julie 2024, which comprise the Statcnieiit of Financial Activities, Balance Sheet, and Note5 to the I,-inancial Statements. Includiiig a sumiiiary of significant accountlllE policits. The financial reporiing franiework that ha5 been applied in their prcparation is United Killgdom Accounting Staiiddrds, coinprising c.harities SORP - FRS 102 'fhc I'inan¢ial Reportiiig Standard applicable in the UK and RepubliL of Ireland, and applicable law (United KTngdom Generally A¢cepted Accounting Practice). In our opinion the financial statements.. giv¢ a true and fair view of the state of the charity'5 affaiT5 as at 30 June 2024 and of its incoming rcsources and appliLation of re50UTces. tncluding it5 incorne and expenditur¢, for the yeaT then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accollnting Practice,. and have been prepar¢d in accordance with the requirements of the Charities Act 2011. Bgsis for OPKIIIOII Wt ¢onductcd our audit in accordance with International Standard5 on Auditing {UKI (ISAS IUKI) and applicable saw. Our responsibilities undcr th05¢ Standards are further described in the auditor re5pon%ibilities for the audit of the financial statetDents sectloll of our report. Wc aTe independent of the ¢harity in accordance with the ethical requTrements that are ielevant to our audit of the financial Statements Ill the UK, including the FRC'S Ethical Standard, and wc have fulfilled our other ethical respon5ibiliti¢s in &ccordanc¢ with thesc requirements. We believc that the audit evidence we have obtained 15 sufyicient and appropriate to provide a basl5 for our opinion. Conclusions relating tu going concern In auditing ihe financial statements, we have conLluded that the tTUStees use of the going concern basis of accounting in the preparation of the financial 5tattinents is appropriate. Based on the work we have performed. we have not identified arty material uncertaintie5 relating to events or condition5 that, individually or collectively. Inay fjasl significant dvubl on tlic charity's ability to continue as going concern for a period of at least twelve months from when tlie original flnancial statements weTe authoriscd for issue. Our rc5ponsibilities &nd th¢ responsibilitie5 of the trustees with r¢spect to going Goncern are d¢5cribed it] the relevant sections of this report. Other informAtion The tru5tee5 ar¢ responsible for the other information. The other information comprises the tnformation Included ill the annual report, other than the financial statements and oui. auditor's report thereon. Our opinion on ihe financial statcments does not cover the other informatioii and, except to the exlent otherwi5¢ explieit5y stated in our report, we do not express any forin of a55urance conclusion thereon. In connection with our aiidit of the financial statements, our responsibility IS to read the other information and, in doing so, consider whether the other informatloll Is niaterially inconsistent with the fiThan¢ial statement5 or our knowledge obtaiiied in the aiidit or otheTwise appea to b¢ Inaterially misstated. If we identify such rnaterial inconsisten¢ies or aPpat material misstatements, we are required io deterinine whether there is a material misstateineiit in the financial statements or a Inaterial misstatement of the othei. information. If, ba%ed on the work we have perfortned. we Conclude that there is a material misstatemellt of this other infortnation, we are required to report that fact. We have nothing to report ID this regard. Page 5
Mabel Cooper Charitable I'rust Independent Auditor's Report to the Members of Mabel Cooper Charitable Trust (continued) Matter% on which we are required tv report by exciptton In the light of OUT knowlcdgt dnd understanding of the charity and its environment obtain¢d in the Cou¢ of the audit, wc have not identificd Tnat¢rial misstateinents In tlic I ru5t¢es' Report. We have nothing to report in respect of the following rnatters where the Charities (Account5 and Report) Regulations 2008 requires us to report to you if, in our opinion.. adequate accounting records have not been kept. or r¢turn5 adequate for our audit have not b¢¢n received frojn branches not V151ted by lls., or the financial statetnents are llot in agreement with the accounting records and returns. or ¢ertain d55closures of trustees remuneration speeificd by law are not niade., or we have not received all the inforrnation and explanations we require for our audit. Responsibilities of trustees As explained morc fully in the Statcment of Trustees, Responsibilitie5 {s¢t out on page 3 and 4}, the trustees are responsible for the preparation of the fiiiancial siatemcnts and for being satisfied that they give a tru¢ and fair view, and for Such intema5 control as the truste¢5 determine 15 necessary to Cnable thc PTep8ration of financial statemtnts that are free from material niisstatement, whether due to fraud or crror. In preparing the financial Statements, the trustees are responsible for a5ses5lDg the charity's ability to continue as a going concern, disclosit]g, as applicable. niatters related to going concern and using the going conceTll basis of accounting unlc5S the trustecs eitlier intend to liquidate thc charity or to cease operations, or have no realisti¢ alternative but to do 50. Auditor Responsibilities for th¢ gudit of the fith•n¢ial statements Our obj¢¢iives are to vbtain rcasonable a%surance abDUt whether the financial statements as a whole are free from material Tr)is%tatcinellt. whether due to Iraud or error, and to Issue an auditor's report that includes our opinion. Rea50nable suranCe is a high level of assurance, but is not a guarantce that an audit conducted in accorddnce with ISAS IUKI will always detcct a Inaterial misstatement wheii it exists. Mi55ta¢emcllts can arise froni fraud or error and arc considered material if. individually or In thc aggregate, thcy could reasollably be expccted to influence the e¢ononiic decisivns of uscrs taken on the basi5 of thcse finan¢ial statcments. The Extent to which our procedures are capable of detecting irregularities, iiicluding fraud 15 detailed below.. Page 6
Mabel Cooper Charitable Trust Independent Auditor's Report to the Members of Mabel Cooper Charitable Trust (continued) We id¢otify and assess the risk5 of material Tllis5tatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures to iespond to tliose risk5, including obtaining audit evidence that is sufficient and appropri(It¢ to provide a basis to our opinion. We have identified and assess the poteniial risk5 related to irrcgularities, including fraud, by.. Making enquiries of th¢ trustees Tegarding thc compliance witli law% and regulations, the deteelion of and regponse to the risk of fraud and any knowledge of actual. suspected 01 alleged Iraud. We also (lis¢usscd the contTols in place to rnitigate fraud risks or non-compliancc with laws and regulations. Obtaining an ui)detstanding of the legal and Tegulatory framework it) which the company operates. The key laws and regulations are considered to be the Charities Act 2011 and UKGAAP, specifically the Charities SORP. We have responded to risks idcntified by perforining procedure5 including the following.. Makit]g enquiries of the tTUStees conceming cornplian¢e with the relevant laws and regulations discussed above., Perfnrming Rnalytical procedures to identify any unusual or unexpected relationship5 which may indi¢ate risks of nii55tatemcnt due to fraud,. and Reviewing the financial statemcnt disclosures and testing to supporting docutnentation., We have a150 considered the risk of fraud through manageTtJent override of controls by.. Testing a sample of journal entrie5 for appropriateness., and Assessing whether the judgements mad¢ in makillg accounting estSTnates are indicative of potential bias. Because of the inheTent limitations of an audit. th¢re is a risk that we will not detect all irregularitle5. including those l¢ading to a tnaterial misstateTntnt in the financial statcinents or non-cornpliancc with regulation. This risk increaseb the more that compliance with a law or regulation 15 removed from the events and transactions reflected in the financia5 statements, a5 we will be le55 likely to become awar¢ of instances of Don-complian¢e. The risk is a150 grcatcr regarding irregularities OCCUTring due to fraud rather than error, as fraud involve5 intentii)nal concealTnent, forgery. collu%ion, otni55ion or misrep1¢5entation. A further description of our responsibilities is available on the Financial Reporttng Council's webslte at.. www.frc.org.uklallditorsresponsibilitics. Thi5 descriptioii foTm% part of our auditor's report. Use of our report This report is Tnade solely to the ¢harity tru5t¢es, as a body, in accordance with section 144 of the Charities Act 2011 and regulatlOll5 madc under 5¢Ction 154 of that Act. Our audit work ha5 been undertaken so that we n)ight state to the trustec5 those matters we are reqiiired to state to trustees in an auditors, report and for llo Other purpose. To the fullest extent pern)itted by law, we do not accept or assumc responsibility to anyone othcr than the ¢harity and its irllstccs as a body, for our audit work, foT this report. or for the opinions we have formed. Page 7
Mabel Cooper Charitable Trust Independent Auditor's Report to the Members of Mabel Cooper Charitable Trust (continued) Simon Ropcr {SenioT Statutory Auditor} For dnd on behalf of Fuller & Roper Lirnited. Statutory Auditor 12 Old Mills Industri&l Estate Paulton Bristol BS39 7SU Date.. Fuller & Roper Limited is eligible for appointtn¢nt as auditor of thc charity by virtue of its eligibility for appointment a5 auditor of a company undcr section 1212 of the Companies Act 2006. Page 8
IVJabel Cooper Charitable Trust Statement of Financial Activities for the Year Ended 30 June 2024 TotAI 2024 Unrestricted Note Income Endowment5 from: 257.525 257.525 ExpeTLditure on: Raising funds Charitabl¢ activities 123.2261 130,728) 123,2261 130,7281 Total Expenditurc Gain511os5¢5 on investment assets 1153,9541 630.040 1153,9541 630,040 Net in¢ome 733.611 733,611 OtILtr recogni5ed gain.s Ios5e5 Other gainsllosses ,2861 11,286) Net Tnovement in funds 732.325 732.325 Reconciliation of furtds Total fi]nds brought forward 5,885,275 5,885,275 Total futlds Carried forward 15 6,617.600 6,617.600 Total 2023 Utirestricted Note lrttome and Endtsivments from: Inve5tnient income 184,528 184,528 Expertditure on: Raising funds Charitable activities 122,5701 1132,060) 122,570) 1132,0601 Tota5 Lxpenditure Gainsllosses investment assets 154,6301 19.912 154,6301 19.912 Net movement in fund5 49,810 49.810 RecoDtiliation of fuTtd5 Total funds brought forward Total fullds carried forward 5,835,465 5,835,465 5,885,275 5,885.275 All of the chariry's activitie5 derive frorn continuing operations during the above two periods. I'he funds breakdown for 2023 is showii iii note 15. The notes on pages l I to 18 form an intcgral pail of these financial statemejits. Page 9
Mabel Cooper Charitable Trust {Registration number: 264621) Balance Sheet as 2t 30 June 2024 2024 2013 Note Fixed Assets Inv¢5rm¢nts 6.505.966 5,638,651 Current a55tts Debtors Cash ai bank and in hand 12 9,579 106.783 8,381 242,743 116,362 251,124 Creditors.. Amounts falling due wlthln one year 4,728 4.500 Net eurrent a5sei$ 246,624 Nti 1$5ets 6.617,600 5,885,275 Fund$ of th¢ etLxrity: Umttstri¢ted income fuDd¥ Unrestricted bjttds 6,617,600 5,885,275 Totgl funds 6.617,600 5.885,275 The financial 5ts1ernenlS on pages 9 10 18 w¢r¢ approved by th¢ tNste¢s. and attthoTised for issuc on onds ed on th¢iT behJlf by.. Mr l A Harbottle Trustee The notes on pages 11 ¢0 18 fomi an integral part of these fLnancial statements. P4g¢ 10
Mabel Cooper Charitable Trust Notes to the Financial Statements for the Year Ended 30 June 2024 l AccouDttng policies Statement of eompliAnce Thc financial stateni¢nt8 of the charity, which is a public benefit entity under FKS 102, have been prepared in accordance with Accounting and Reporting by Charitie5.' Statement of Recominended Practice applicable to ¢haritics prtparing tlicir a¢¢ounts in accordance with ihe Financial Reporting Standard applicablc in the UK and Republic of Ireland IFRS 1021 IcffeGtive l January 2019) - (Charities SORP IFRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities A¢t 2011. Basis of prcparation The financial stateinents have been prepared undcr the historical Cost convention, with the exception of investrllents which are in¢lllded at rnarket value. as modified by the revaluation of certain assets. I'he financial statements are presented in Sterling which is the functional currct]cy of the charity and rounded to the lleaSt £1. Going concern The trustees consider that there aTe no material un¢ertailltie5 abollt the charity's ability to continue as a going concern. IncoTll¢ eDdowments Inve51fneAt iAcome Dividends are recogpised once the dividelld has been declared and notification has been received of the dividend due. Exp¢nditure All expenditure is recognised once there is a legal or constTU¢tive obligation to that expenditure, it is probable settlement is required and the amount Can be rneasured reliably. All costs arc allocated to th¢ applicable expenditiire heading that aggregate siinilar costs to that category. Where costs cannot b¢ directly attribuied to partiGular hcadillgs they have been allocated on a basis consistent with thc use of resourct5, Wlth central staff ¢i)sls alloGated on tlie basis of tTm¢ spent, aiid depreciation Gharges allo¢ated Oll the portion of the ass¢t'5 use. Other support costs are allocated based oi) the spr¢ad of staff ¢osts. Rai.singfunds These are costs incurred in attracting voluntary income, the managetnent of investTn¢nts and those incurred i tra(ling activitit% that rai5¢ funds. Charitable aclivliiés Charitable expenditure comprises those costs illcuTred by tlie charity ill the delivery of its activities and services foT its beiieficiaries. It includes both costs that can be allocated directly to 5u¢h activit1¢5 and those costs of at] indire¢t nature necessary to support theni. GranipfipvisEOHS Provisiolls foT gTanls are Inade when the intention to make a grant has been communicated to the recipient but there is unccrtainty about eitheT the tirning of the grant or the amount of grant payable. Page 11
Mabel Cooper Charitable Trust Notes to the Financial Statements for the Year Ended 30 June 2024 (continue(J) Govevngnce costs Thesc include the costs attributable to thc charity's compliance with constilutional and statutory requireiiients, n¢ludinE audit. stratcgic managcnicllt and trustees Tneetings aiTrd reimbursed expcnses. Taxation The charity is ronsidcred to pass the tesls set out in Paragraph I Schedul¢ 6 of the Finance Act 2010 and therefoTe it meets the dcfinitioD of a charitable coinpany for UK ¢orporation tax piirpos¢s. Accordingly, the charity is poicntially ¢xempt from taxation ID respect of income or capital gains received within cat¢gories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, 10 the extent that such incorne or gains are applied exclusively to charitable purposes. Fixed as$tt investments rixtd &%set inv¢btn)ents are included at market value at the balan¢e sheet date. Realised gains and losscs on investments are calculated as the diffcrcllce betwcen sales procteds and their rnarkct valu¢ at the staTt of the year. OT th¢ir subsequ¢nt cosi. and are charged or credited to the Stat¢ment of Findncial Activities in the period of disposal. Unrealised gain5 and losse5 Tepresent the movernent in market values duTlrtg the year and are credited or charged to thc Statetnent of Financial Activities based on the rnarket value at the year end. Debtors Accrued Income is calculated as the sutn of dividelld in¢ome earned on illve5tments, but not recevi¢d by the ¢harity. at the balance sheet date. Cash xnd cash equivRlents c.ash and cash equivalenis comprise cash on hand and call deposits, and other short-teFn) highly liquid investments that are r¢adily convertible to a known amoullt of ¢ash and ar¢ .%ubject to an illsigRifieant risk of change in value. Creditor5 Crediturs are rccognised where the charity has a present obligation resulting fTom a past event that will probably result in the traiisfei. of funds to a third party and the arnount due to settlc the obligation can be rneasured or estimated reliably. Creditors are re¢ognised at their settlement amouDt after allowing for any trade discounts due. Fllnd 5truttllre Unrestricted in¢omc funds are gcneral funds that aTe availabl¢ for use at the trustee5 discretloll in furtherance of th¢ objectives of the charity. FinAncial instruments ClrtssificoliOII Finallcial assets and financial liabilities are recognised when the charity becornes a party to the contractllal provisions of the instrument. Financial liabililics and equity instruments are classified according to the Substance of the contr#ciual arrangemeiit5 entered into. Art equity insirunient l5 any coiitracl that evidences a residual interest in thc asset5 of the charity after deducting all of'its liabilities. Page 12
Mabel Cooper Charitable Trust Notes to the Financial Statements for the Year Fnded 30 June 2024 (Continued) Rec(pgrtilinn und eS11repnert1 All financial assets aiid liabilities are initially tneasured at tran8&Ction price (including transaction cost5), except for tho.%e financial assets cla551fied as at fair value through profit or 1055, which are iDilially Intasurcd at fair valuc Iwhi¢h is nortnally thc transactioii pric¢ excluding transaction ¢ostsl, unless the arrangement constittite5 a financing tiansaction. It. ati arrang¢ment COT151ilutcs a financing transactloll, the financi¥¢l asset QT financial liability is Ineasured at the present vallle of the futllre paytnenis discounted at a market rate of interest for a sirnilar debt instrllment. Financial assets alld liabilitics are only offset in the statement of financial position when. aDd only when there exssts a legally enforceable right to set off the recognised amounts dnd the charity intcnd5 either to settle on net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the corttractual rights to the cash flows from the rinancial asset cxpirc or are settled, bl the charity transfers io another party subslantially all of the TEsks and T¢wards of owncrship of the financial asset. or cl the charity, despite having retained some, but not all, significant risks and rewards of ownership, has traR5ferred cont1 of the asset to allother party. Financial liabilities are derecognised oiily when the obligatjoll 5pe¢ified in the contract is discharged, cancelled or expires. Jrtv¢slments' Investment5 in non-convertible preference shares and non-putiable ordinary or preference 5hareq IwheTe shares are publicly traded or their fair value is rcliably measurabl¢l are m¢a5ured at fair valuc through profit or loss. whe fair value ¢annot be measured reliably, investments aT¢ measured at ¢ost les5 impairment. Invcstfflents in subsidiaries and associatcs are measured ai cost less impairment. For inve5tment5 in 5ubsidiarie5 a¢quired for eonsidei?tion including the issue of shares qualifying for merg¢T relief, cost is measured by Tef¢rence to the nominal value of the shares issued plu5 fair value of other consideration. Any ptluM is ignored. The best evidence of fair value 18 a quoted price for an identical asset in an active tnarket. When 4UOted pri¢es are illlavailable, the price of a re¢ent transaction for an identical asset provides evidcnce of fair value as long a5 therc ha5 not been a gignificant change in economic Gir¢uinstances or a significant lapse of tiint since the transaction took placc. If the market is not active and recent transactions of an identical asset on their own are noi a good e5timaie of fair value. the fair value is estimated by Usillg a valllation techniqu¢. Page 13
Mabel Cooper Charitable Trust Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) 2 1nve5trDertt incorne Unre5tritted Total 2024 Total 2023 General Income from listed inve5tmenis' Dividend5 and interest receivable from other listed inve%tmcnt5 Interest receivable and sirnilar incoTn¢' Interest Te¢eivable on cash deposits ProfiV{105s) on disposal of investtnents 106,409 106,409 95.242 4,720 146,396 4,720 146.396 89,286 257,525 257,525 J ¥4,528 3 bxpenditure on raisirtg fund5 J Investment management C05t5 Unrestricted lunds General Total 2024 Total 2023 Other investmcnt rnaDagemcnt costs., Portfolio management ¢osts 23,226 23,226 22.570 4 Expenditure on chAritable 4ttivities Unrestricted Total 2024 TotAI 2023 GenerAI Iyote Grant funding of activities Governance cost5 126,000 4,728 126,000 4,728 127,500 4,560 132,060 130.728 130.728 Page 14
Mabel Cooper Cliaritable Trust Notes to the Financial StatemcnÉs for the Year Ended 30 June 2024 (contÉnued) 5 Analysis of govtrnA Tree support tosts GoverN#nce costs Unrestrictcd furtd5 General Total 2024 'rot#l 2023 Audit fees Audit of thc financial statern¢nts 4,728 4,728 4.560 6 Grant-making Analybis of grants Grant5 to institutions 2024 2023 AnalysL5 Health and wellbeing Homele55ness Animal w¢lfaTe Environmental Offender sllpport 86.000 27,500 7,500 2,500 2,500 126,000 76,000 36,500 4,500 3.000 7,500 127,500 The support costs associated with grant-makillg are £Nil {30 June 2023 £Nil). Included within the grants to institution5 are individual amourtts granted to two home1¢5siiess charities of £10,000 each and one grant of £7,500 another homelessness charity. A health alld wellbeing charity was awarded one grant of £IO.000, and two other health and wellbeing charitie5 were awarded individual grants of £7.500 each. No institutiorts were awarded rnore than one grant by the charity during the year. None of the individual grants to institutions were considered mateTial to either total grants made. or total charify expenditure, in isolation. 7 Trustees remuneratlO¥J Aiid expenses No trustees, nor any pers0115 Lonnected with them, have received any remuneration from the charity during the year. No trustees have received any reitnbursed expenses or any other b¢n¢fits frotn the charity during tli¢ year. 8 Staff costs The Charity had no employees durillg the current or previous peTlOd. Page 15
Mabel Cooper Charitable Trust Trlote5 to the Financial Stratements for the Year Ended 30 June 2024 (continued) 9 Auditors reniuneration 2024 2023 Audit of the financial statements 4,728 4.560 10 Taiation The charity is a registered charity and is therefore exempt from taxation. 11 Fixed a55et investments 2024 2023 Other investrn¢nts 6,505,966 5,638,651 Other ivvestment5 Listed investtnent5 Total Cost or VgluJ)tion At l July 2023 Additions Disposals Revaluation 5,638.651 5,638,651 1,203,293 1,203,293 1966,018) (966,0181 630,040 630.040 At 30 June 2024 6.505,966 6.505,966 Net book value At 30 Jure 2024 6,505,966 6,505,966 At 30 Jut]e 2023 5,638.651 5,638,651 The charity's investment5 Comprise of funds managed by LGT Wealth Managament, M&G and a portfolio managcd by Quilter Cheviot. All investments are Shown at market value at the year end dale. Page 16
Mabel Cooper Charitable Trust Note5 to the Financial Statement5 for the Year Ended 30 June 2024 (eontinued) 12 D¢btors 2024 2023 A¢¢Tued dividend incotne 9,579 8,381 13 C9sh and cash ¢quiv&lents 2024 2023 .ash at bank IU6,783 242.743 14 Creditors: gmounts falling due within oDe year 2024 21123 Accruals 4,728 4,500 IS Funds Other reeogni5ed gainslllosses) BAIAnce at 30 June 2024 BalaCe at I July 2023 Incoming re8ource5 Resource5 expended Unre$trÉcted fund5 (ieneTal 5,885,275 257,525 153,9541 628,754 6,617,600 Other retognised gainsl(losse51 BalRnce at 30 June 2023 Bglance xt I July 2022 Intoming r¢sources Resource5 expended Uthrestricted funds General 5,835,465 184,528 1154,630} 19,912 5,885,275 Page 17
Mabel Cooper Charitable Trust Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) 16 Artglysis of net assets between fund5 Unrestricted fund$ GethL'ral Total fund5 at 30 June 2024 Fixed asset investments 6,505.966 116.362 {4,728) 6,505,966 116,362 14,7281 Current assets Current liabilities Total net a55et5 6.617,600 6.617,600 UDrestricted fuDd$ General Tot#l fullds at 30 June 2023 Fixed assct investtnents CuTr¢nt assets Current liabilities 5,638.651 251.124 14.500 5,638,651 251.124 4,5001 Total net assets 11 5,885,275 5,885,275 17 Related pArty tran5aetion$ No related party transaction5 wBre undertaken in the Gurrent or previous years. Page 18
Mabel Cooper Charital)le Trust Statement of Financial Activities by fund for the Year Ended 30 June 2024 Total Tot¥41 Uthrt$trÉcted Unrestricted Furyds Funds 2024 2023 Income and Endowtnents from: Invesiment income 257,525 184,528 Total ineomc 257,525 184.528 Expenditure on: Raising funds Charitable activities 123,226) 130,7281 (22,5701 1132,060) Totrdl expenditure Gain511os5e5 OR investment assets {153.9541 630.040 (154,6301 19,912 Net income 733.611 49,810 Other recogni5ed gaiD5 and 1055e5 Other gainsllos9es 1,286 Net movement in funds 732.325 49,810 Reconciliation of funds Total fullds brought forward 5,885.275 5,835,465 Total fund5 carried forward 6,617,600 5.885,275 This page does not form part of the statutory finan¢Eal sthtements. Pagc 19
Mabel Cooper Charitable Trust Detailed 8tatement of FinanLial Activities tor the Year nded 30 .Tune 2024 Totxl 2024 Total 2023 1CoV¢ #nd Elldowments from.. Inve.%tment incomc lanaly5ed below) 257,525 184.528 Total income 257.525 184,528 I xpeuditur¢ on: Raising fund5 lallalysed below) Charitable activities lanaly5¢d below) 123.2261 {130,728) 122.5701 1132,060 Total expcnditure G4insllosses on investment assets (analysed below) 1153,954) 630,040 1154,630) 19,912 Net income 733,611 49,810 Other recognk5ed gains losses Other gainsllosses lanalysed below) 11,2861 Nei movement in fund5 732.325 49,810 Recorlciliation of lunds Total funds brought forward 5.885,275 5,835,465 Total funds ¢arried forward 6.617.600 5,885,275 This page does not fortll part of the statutory finaiicial 5tat¢ments. Page 20
Mabel Cooper Charitable Trust Detailed Statement of Financial Activities for the Year F.ndcd 30 June 2024 (continued) Tot#1 2024 Total 2023 Profivllossl on disposal of investments Income froTn listed investments Interest on cash deposits 146,396 106,409 4,720 89,286 95,242 257,525 184,528 Rllisingfund5 Portfolio tnanagement costs 123,226) {22.570) CharEtuble oclivilies Grants madc The audit of the charity's annual accounts 1126.0001 14,728 130,7281 1127,5001 4,560) 132.060 Goins/losses on iKveslmcnt assets Unrealised gains/{105ses) on investments Other gAin5n05se5 I"'unds- ForeTgn currency translation 630,040 19,912 1,286 1.his page doe5 not form part of the statutory financial statements. Page21