REGISTERED CHARITY NUMBER: 282667 REPORT OF THE TRUSTEES AND UNAVDITED FINANCXAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 FOR MULBERRY HOUSE MINISTRY TRUST Clemence Hoar Cummlngs Chartered Accountants Riverside House 1-5 Como Street Romford Essex RM7 7DN
MULBERRY HOUSE MINISTRY TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Page Report of the Trustees Independent Examiner's Report statement ol Financial Activitles Balance Sheet Notes to the Financial Statements 6 to 12 Detailed Statement of Financial Actlvltles 13 to 14
MULBERRY HOUSE MINISTRY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 The trustees present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of Accounting and Reportlng by Charltles.. Statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective I January 2019). OBJECTIVES AND ACTIVITIES Objectives and alms The object of the charity Is the advancement of the Christian faith. This is achieved by supportlng appropriate proJetts and by maklng funds avallable to other Chrlstlan ministries. FINANCIAL REVIEW Reserves policy The charity doesn't hold its own reserves as the trustees have committed to meet shortralls in monthly cashflow requirements from their own personal funds by making additional donatlons to cover the charities ongoing activities. In addition to this adjustments to stafflng have been made over the year to help reduce the ongoing operatlno costs. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Mulberry House Minlstry House is govemed by its constitution dated 30th March 1981. It is registered as a charity with the Charity Commission. In the event of the charlty belng wound up, all of the members agree to contribute £1. Recruitment and appointment of new trustees The board of trustees consist of the two founders of the charlty and hlstorlcally there have been no other appointtnents of additional trustees However should the currerbt trustees conslder that additlonal skllls are required at board level, they wlll approach suitable persons with a view to appointing them as trustees. Organi5ational structure The trustees are jointly responsible for the overall administration of the charity. Day to day admbnlstratlon Is delegated to appropriate persons. Inductlon and tralnlng of new trustees If and when addltlonal trustee5 are appointed to the board, the existing trustees will provlde them with an appropriate Inductlon and trabning package. Thls wlll include previous accounts of the charity and board mlnutes and well as copies of Charity Commisslon gUIdan on the duties of trustees. Related parties Mulberry Facilltles Llmlted Is a company whose directors during the year included R J George and A J George. It owns certaln freehold property that was used by the charity to conduct Its charitable activities. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty number 282667 Prlnclpal address Mulberry House Chelmsford Road High Ongar Essex CM5 9NL Trustees R George (resigned 24.8.241 A J George S J George H Ashworth Page I
MULBERRY HOUSE MINISTRY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DEfAILS Independent Examiner Lee Blunden FCCA CTA clemen Hoar Cummlngs Chartered Accountants RIveIde Hotsse 1-5 Como Street Romford Essex RM7 7DN Solicitors Cooke Matheson 8 Gray's Inn Square Gray's Inn London WCIR ¥JQ Bankers Barclays Bank PLC 20 The Town Enfleld Mlddlesex EN2 6LY Approved by order of the boanl of trustees on ...l.l...S.£F... by: aTrd.slgned on Its behalf S J George- Trustee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MULBERRY HOUSE MINISTRY TRUST Independent examiner's report to the trustees of Mulberry House Ministry Trust I report to the charily trustees on my examination of the accounts of Mulberry House Ministry Trust (the Trust) for the year ended 31st December 2023. Responsibilities and basls of report As the charity trustees of the Trust you are re5porisible for the preparation of the accounts in accordance wlth the requirements of the Charities Act 2011 {'the Act,). I report in respect of my examlnatlon of the Trust's account5 carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Dlrections given by the Charlty Commission under Section 145(51(bl of the Act. Independent examiner's statement I have completed my examination. I confirm that no materlal matters have come to my attention in connection with the examination glving me cause to believe that in artry material respert.. accounting records were not kept in respect of the Trust as requlre(J by Section 130 of the Act,. or the accoijnts do not accord with those records. or the accounts do not comply with the appllcable requlrements concernlng the form and content of accounts set out in the Charlties (Accounts and Reports) Regulatlons 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 concerns and have come across no other matters in connertion with the examination to which attentlon should be drawrb in this report in order to enable a proper understanding of the accounts to be reached. Lee Blunden FCCA cfA Clemence Hoar Cummlngs Chartered Accountants Rlverslde House 1-5 Como Street Romford Essex RM7 7DN Date.. Page 3
MULBERRY HOUSE MINISTRY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted Restricted funds fund Notes INCOME AND ENDOWMENTS FROM Charitable activities 174,513 174,513 143,244 other trading activities 3.695 3,695 2,021 Total 178,208 178,208 145,265 EXPENDITURE ON RaSsing funds 51,520 51,520 46,814 Charltable activities Seminars & Event5 80,109 80,109 94,098 Total 131,629 131,629 140,912 NET INCOME 46,579 46,579 4,353 RECONCILIATION OF FUNDS Tot31 funds brought forward {437,794} (437,794) 1442,147) TOTAL FUNDS CARRXED FORWARD (39X,Z15) (391,215} 1437,794) The notes form part of these flnanclal statements Page 4
MULBERRY HOUSE MINISTRYTRUST BALANCE SHEET 31 DECEMBER 2023 2023 Tot)1 funds 2022 Total funds Unrestrtcted fvnds Restrlcted fijnd Notes FIXED ASSETS Tanglble assets io 154,227 154.227 154,854 CURRENT ASSETS Stocks Debto Cash at bank and In hand li 12 11.330 53.137 2,732 Xl,330 53,137 2,732 12,958 3,656 3,024 67,199 67.199 19,638 CREDITORS Amounts falllng due wlthin one year 13 (612,641) {612,641) (612,286) NET CURRENT ASSETS/(UABILITXES) {545,442} (545.442) {592,6481 TOTAL ASSETS LESS CURRENT LTABILXTXES (391,215) (391.215) (437,794) NEf ASSETS/ILTABILITIES) (391,215) (391.215) (437,794) FUNDS Unrestrlcted fijnds 14 (391.215) (437,794) TOTAL FUNDS (391,215) (437,794) The flnandal statements were approved by the Board of Trustees and authorked for Is5we on ..1.7....Sg t.<¢uki.-..V*kn... and were slgned on Its behalf by.. S J G¢csrge- Truste The notes fomi part of these financlal statements Page 5
MULBERRY HOUSE MINISTRY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 ACCOUNTING POLICIES Basls of preparing the financial statements The financial statements of the charityi which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Flnanclal Reportlng Standard applicable the UK and Republic of Ireland (FRS 102) (effective I lanuary 2019),, Financial Reporting Standard 102 'The Financlal Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. The financial statements have been prepared on a going concern basis. This assumes that the charlty wlll contlnue for the foreseeable future. The valldlty of thls assumption depends on the continued financial support of the trustees and credltors. If the charity were unable to continue, adjustments would have to be wnade to reduce the balance sheet values of assets to theSr recoverable amounts, to provide for any further liabilltles that mlght arise and to reclassify fixed assets as current assets. Long term Ilabllltles would also have to be reclassified as current Ilabilities. The trustees believe that It Is approprlate for the flnanclal statements to be prepared on the going concern basss. Income All income Is recognlsed In the Statement of Financlal Actlvltles once the charlty has entltlement to the furbds, It is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are COgnised as expenditure as soon as there is a legal or construrtive obligation committing the charity to that expendlture, it is probable that a transfer of economic benefits wlll be required in settlement and the amount of the obligation can be measured reliably. Expenditure Is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the catcgory. Where costs cannot be directly attributed to particular headings they have been allocated to actlvitles on a basis conslstent with the use of resources. Tangible fixed assets Depreciatlon Ss provided at the followlng annual rates In order to write off each asset over its estlmated useful life. Freehold property Fixtures and fittlngs 2.5% on cost 25% on reducirbg balance stocks stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow movlng Items. Taxatlon As a charity, Mulberry House Ministry Trust is exempt from tax on income and gains falling wlthln section 505 of the Taxes Act 1988 or s256 of the Taxatlon of Chargeable Galns Act 1992 to the extent that these are applied to its charltable objects. Fund accountlng Unrestricted funds can be used In accordance wlth the charitable obJectlves at the dIsctIon of the trustees. Designated Funds are unrestrlcted funds 'rlng fenced, by the trustees for partlcular purposes. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when speclfied by the donor Dr when funds are raised for partiCLJlar restricted purposes. Page 6 continued...
MULBERRY HOUSE MINISTRY TRUST NOTES TO THE FINANCIAL STATEMENTS- ¢ontinued FOR THE YEAR ENDED 31ST DECEMBER 2023 ACCOUNTING POLICIES- continued Fund accounting Further explanation of the nature and purpose of each fund 15 Included the notes to the flnanclal statements. Hire purchase and lea51ng commltments Rentals pard under operating leases are charged to the Statement of Flnanclal Actlvltles on a stralght line basls tsver the period of the lease. Penslon costs and other post-retirement benefits The charity operate5 a defined contribution pension schetne. Contributions payable to the charity's pension scheme are charged to the Statement of Flnanclal Activitles In the perlod to whlch they relate. CHARITABLE AcfIvITIES 2023 2022 Donations Gift ald Legacies 118,487 6,526 49,500 134.605 8,639 174,513 143,244 OTHER TRADING ACTIVITIES 2023 2022 Sales of goods 3,695 2,021 RAISING FUNDS other trading activlties 2023 2022 Opening stock Closlng stock Printing Postage Pub5ications cost 12,958 (11,330) 17,230 8,552 24,110 12,958 {12,958) 16,946 7,765 22,103 51,520 46,814 Page 7 continued...
MULBERRY HOUSE MINISTRY TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31ST DECEMBER 2023 CHARITABLE ACTIVITIES COSTS Support costs {see note 6) Semlnars & Events 80,109 SUPPORT COSTS Inforrnation technology Management Flnance Semlnars & Events 70,595 256 5,204 Human resources Governance ost5 Depreclatlon Totals Seminars & Event5 1.677 627 1,750 80,109 Support costs, included In the above, are as follows: 2023 Seminars & Events 2022 Total actlvltles Wages Social security Pensions Direct Costs Insurance Advertlsing Subscriptitsns Rates and water Repalrs and renewals Sundries Telephone Computer runnlng costs Travel Depreclatlon of tangible flxed assets Jndependent examlners fees 56,303 2,280 1,716 7,727 1,428 1,141 256 3,124 1,063 1,017 71.077 2,414 1,945 8,326 1,273 543 348 3,232 706 518 1,799 1,571 106 627 1,750 717 1,200 80,109 94,098 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration or other beneflts for the year ended 31st December 2023 nor for the year ended 3 1st December 2022. Trustees. experbses There were no trustees. expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022. Page 8 continued...
MULBERRY HOUSE MINISTRY TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST DECEMBER 2023 STAFF COSTS The average monthly number of employees during the year was as follows.. 2023 2022 Average number of employees No employees received emoluments In excess of £6CI,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restrlcted fund Total funds INCOME AND ENDOWMENTS FROM Charitable activitie5 143,244 143,244 Other tradlng actlvltles 2.021 2,021 Total 145,265 145,265 EXPENDITURE ON Raislng funds 46,814 46,814 Charltable actlvltles Seminars & Events 94,098 94,098 Total 140,912 140,912 NET INCOME 4,353 4.353 RECONCILZATZON OF FUNDS Total funds brought forward (442,147} (442,147) TOTAL FUNDS CARRIED FORWARD 1437,794) (437,794} 10. TANGIBLE FIXED ASSETS Flxtures and fittings Freehold prc>perty Tota15 COST At 1st January 2023 and 31st Oecember 2023 40,140 231,792 271,932 DEPRECIATION At 1st January 2023 Charge for year 31,231 357 85,847 270 117,078 627 At 31st December 2023 31,588 86,117 117,705 NET BOOK VALUE At 31st December 2023 8,552 145,675 154,227 At 31st Dernber 2022 8,909 145,945 154,854 Page g continued...
MULBERRY HOUSE MINISTRY TRUST NOTES TO THE FINANCIAL STATEMENYS - contlnuad FOR THE YEAR ENDED 31ST DECEMBER 2023 11. STOCKS 2023 2022 Stocks 11,330 12,958 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other debtor5 VAT Prepayments and accrued Income 49,500 232 3,405 586 3,070 53,137 3,656 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors Taxation and sc>cial security Other creditors 2,133 448 610,060 2,023 503 609,760 612,641 612,286 14. MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At 1.1.23 Urnrestrlcted funds General fund (437.794) 46,579 (391,215) TOTAL FUNDS (437,794) 46,579 (391,215) Net movement In funds, Included Sn the above are a5 follows.. Incombng resources Resources expended Movefflent in fijnds Unrestrl¢ted funds General fund 178,208 {131,629} 46,579 TOTAL FUNDS 178,208 {131,629} 46,579 Page 10 contlnued...
MULBERRY HOUSE MINISTRY TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023 14. MOVEMENT IN FUNDS - continued Comparatlve$ for movement in funds Net movement in funds At 31.12.22 At 1.1.22 Unrestricted funds General fund (442,1471 4,353 (437,794) TOTAL FUNDS (442,147) 4,353 (437,7941 Comparatlve net movement in fvnds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrl¢ted funds General fund 145,265 {140,9121 4,353 TOTAL FUNDS 145,265 {140,912) 4,353 A current year 12 months and prlor year 12 months combSned posltlon Is as follows.. Net movement In funds At 31.12.23 At 1.1.22 Unrestricted funds General fund (442,1471 50,932 (391.215) TOTAL FUNDS (442,147) 50,932 {391,215) A current year 12 months and prior year 12 months combined net movement in funds, included In the above are as follows.. Incoming resource5 Resources expended Movement in funds Unrestricted funds GeF)eral fund 323,473 (272,541) 50,932 TOTAL FUNDS 323,473 (272,5411 50,932 Page 11 contlnued...
MULBERRY HOUSE MINISTRY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBER 2023 15. RELATED PARTY DISCLOSURES During the year the charSty recelved donatlons totalling £43,966 (2022 £55,771) from its trustees. At year end the charity owed £608,510 to trustees (2022 £608,510). M(Jlberry Facilities Limited 15 a company whose dlrectors during the year Included R J George and A J George. It owns certaln freehol¢J property that was used by the charlty to conduct Its char6table activitie5. Page 12
MULBERRY HOUSE MINISTRY TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31sr DECEMBER 2023 2023 2022 INCOME AND ENDOWMENTS Charitable actlvltles Donations Glft aid Legacles 118,487 6,526 49,500 134,605 8,639 174,513 143,244 Other tradlng activities Sales of good5 3,695 2,021 Tolal Incomlng resources 178,208 145,265 EXPENDXTURE Other tradlng actlvltles Opening stock Prlntlng Postage Publications cost Closing stock 12,958 17,230 8,552 24,110 (11,330) 12,958 16,946 7,765 22,103 (12,958) 51,520 46.814 Support costs Management Wages Social security Pensions Direct Costs Insurance Advert151ng 56,303 2,280 1,716 7,727 1,428 1,141 71,077 2,414 1,945 8,326 1,273 543 70,595 85,578 Finance Subscriptions 256 348 Information technology Rates and water Repairs and renewals Sundries 3,124 1,063 1.017 3,232 706 5,204 3,938 Human resources Telephone Computer runnlng costs Travel 518 1,799 1,571 106 1,677 2,317 Thls page does not form part of the statutory financial staternents Page 13
MULBERRY HOUSE MINIRy TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023 2023 2022 Human resourcés Depreclatlon Freehold property Flxtures and fittings 357 270 357 360 627 717 Governance costs Independent examlners fees 1,750 1,200 Total resour5 expended 131,629 140,912 Net income 46,579 4,353 This page does not form part of the statutory financial statements Page 14