REGISTERED CHARITY NUMBER: 327517 Report of the Trustees and Unaudited Flnancial Slatement5 for the Year Ended S Aprll 2024 for The Mustardseed Arts & EducationAI Trust Grant Harrod Lern)an Davis LLP Chartered Accountants I st Floor Healthaid House Maylborough Hill Harrow Mid(llLqex HAI IUD
The Mustardseed Art$ & Educatlonal Trust Contents of the Financial Statements for the year ended 5 April 2024 Page Report of the Thistees I to 2 Independent Examiner's Report Statement of Flnancial Activitles Bajance Sheet Notes to the Financial Statements
The Mustardseed Arts & Educational Trust Report of the Trustees for the year ended S April 2024 The trustees psent their report with the financial statements of the charity for the year ended 5 April 2024. The tru*¢s have adopted the provisions of Accounting and ReEthing by Charities: Statement of Recommended PTactice applicable to ¢harilies preparing their accounts in accordance with the Financial Reporting Standard applicable iti the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJEcfIvES AND ACTIVITIES Objeetives and ain The objeclive of the charity is very broad. The Mustanjseed Arts and Educational TnLSt is a small family trust that supports people in need and neS donations to other charities. Publie bellefit The Mustsrd8eed Arts and Educational Trust is funded by contributions from members of the Caird Family and from other individuals and chTble foundations that share Musfardseed's aims. In planning our donations for the year, we kept in mind the Charity Commission's guidance on public benefit at our meetings. Donations are disbursed to people in need, in the forni of grdnts, mostly to Oanis&tiOns, charities and individuals in the developing world to improve the standard of life and educational prospects of the most knble members of the Commullity. ACHIEVEMENT AND PERFORMANCE Charitable aetivities Duritig the year, the Charity has helped the following organisaiions, charities and individuals., mtardseed Junior School, Sentema, Uganda - building teacheft5' acconunodation and infraslrnctw¢ at Sentenm in Wakiso Distri¢l Uganda. Also developing the architectural designs for a boarding house at MWStar School with local companies Studio FH and Local wo& Also sustaining Mustar(Lseed School in its fourth year of operdtions, including the provision of bursaries for nY sNdents and the payment of salaries for teachers and staff. Also liaising with Magdalen College School in Oxford, UK in fund-raising events in support of Mustardseed sch1, Ugattda. Continuing contributions for building and upkeep of Revelation School in Kampal4 Teddy NaTththA head teacher. Edith Babirye - For the university education of her sister PiOUS Bronia in Kampala, Uganda. Jacquel) Nabuule - for the primary education of her son Idris, in Kampala, Uganda. Plan International UK - for support of ¢hildren in need worldwide. Action for the Blind- annual donation to UK Charity. FANcL REvw Reserves policy The Twstees aim to expend all income by way of approved donations. The level of reserves held as at 5 April 2024 were £16,074 in the sterling account and S 100,436 in the USDollar account. These sums are beitig reserved for expendittlre on the design and building of Mustardseed Junior School in Kampala, Uganda, John Caird, one of the CharÈty'S nMjor donors will continue lo make the appropriate donations to the Charity, as required. ettsuring that the Charity always has sufficient fimds to meet its ne&ts effectively. The lrnstees will keq) this policy under review, having regard to any Changes in the donation making policy. FUTURE PLANS Any sury>lus donations in the year will be distributed in future periods. Page I
The Mustardseed Arts & Educational Trnst Report of the Trustee5 for the year ended 5 April 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT The Tnlstes have overdll responsibility for ensuring that the Charity has appropriate syslems of controls. fmoncial and otherwise. They are also re4)onsible for keeping proper a¢¢ounling records which disclose with reasonable accuracy at any time the fmartcial position of the Charity and enable them to ensure that the flllancial statements comply with the Charities ACL They are also responsible for safeguarding the assets of the Charity and hence for taking re&sonable steps for the prevention and detection of fraud and other iegUlarltles and to provide reasonable &*8uran¢e that:_ - The Charity is operating etficiently. - Its assets are safeguarded against unauthorized use or disposition. - Proper trcords are maintained and financial infonnation used within the Charity or for publication is reliable; - The Charity Complies with relevant laws and regulations. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered ChY4rity Dumber 327517 Prinefipal address Church House 10 South Grove N6 6BS Trustees Miss A Popplewell Mr J Caird Ms J Caird Mrs M Caird Mr Y B Caird Independenl Examiner Keith Smith FCCA Grant Harrod Lem]an Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill HaThw Middlesex HAI IUD COIKMENCEMENT OF ACTIVITIES Trust Deed dated 30th March 1987. Deed of Variation dated 18th April 2011. Approved by order of the board of trustees on ..... . ... .. . and signed on its behalf by: Mr J Caird - Trustee Page 2
Independenl Examiner's Report to the Trustees of The Mustardseed Arts & Educational Trust Ind¢penden¢ examiner's report to the trustees of The Mustardseed Arts & Edueational Trust I report to the charity trustees on my examination of the accounts of The Mustardseed Arts & Educational Tnt (the Tnjst) for the year ended 5 April 2024. Responslbfillties and basi5 of report As the chaTity trustees of the Tnt you are responsible for th¢ pryarntion of the accounts in accordance with the rulTernents of th¢ Charities Act 2011 Cthe Ad). I rert in respect of my examination of the Trus¢s accounts carTied out under Section 145 of the Act and in Carrying out my examination I have followed all applicable Directions given by the Charity Comtnission under S¢ction 145(5)(b) of the Act. Independent examiner's statement Since your ¢harity's gross income exceeded £250,000 your examiner mw8t be a men]ber of a listed body. I can Collf that I am qualified to undertake the examination because l am a member of the Aw)ciation of Chartered Certified Accountants, which is one of the listed bodies. I have completed my exan]ination, I COnfn that no material Matte have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accord with those records. or the awounts do not comply with the applicable requirements ¢on¢erning the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2(K)8 other than any requiTement that the accounts give a trne and fair view which is not a matter considered as part of an llthpendent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drdwn in this report iti order to enable a proper understanding of the a¢¢ounts to be reached. Keith Smith FCCA The Association of Chartered Certified Accountants Grant Harrod Lernian Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HAI IUD . Page 3
The Mustardseed Arts & Educational Trust Statement of Financial Acdiltles for the year ended S April 2024 2024 Total funds 2023 Totsl fijnds Unrestricted fimd Restricted fund Notes llYCOME AIYD ENDOWMENTS FROM Donations and legacies 216.455 115,710 332,165 284,532 Investment income 684 684 430 Total 216.455 116,394 332,849 284,962 EXPENDITURE OIY Charitable actlvltles Donations General Exp 5,494 173.563 110,242 6,152 115,736 179,715 325,289 24,880 Totsl 179,057 116,394 295,451 350,169 NET INCOMEI(EXPENDrruRE) 37,398 37.398 (65.207) RECONCILIATION OF FUNDS Totsl funds brought fonvard 56,853 56,853 122,060 TOTAL FUNDS CARRIED FORWARD 94251 94251 56.853 The notes forn part of tbese financial statements Page 4
The Mustardseed Arts & Educational Trust BalaDee Sheet 5 April 2024 2024 Total funds 2023 Total fimds Unrestricted fjjnd Restricted fund Notes CURRENT ASSETS Cash at bank 95,691 95,691 58293 CREDITORS Amounts falling due within one year (1,440) (1,440) {1,440) NET CURRENT ASSETS 94,251 94,251 56,853 TOTAL ASSETS LESS CURRENT LIABILITIES 94,251 94,251 56,853 1¥4ET ASSETS 94,251 94,251 56,853 FUNDS Unrestricted funds: General fund 94.251 56,853 TOTAL FUNDS 94,251 56.853 Th¢ finala1 statelnents were approved by the Board of Trusttts and authorised for issue on and w¢re signed on its khalf by: Mr J Caird- Tntee Ms J Caird- Trustee l - Ttee -y C',rL The notes fom) part of these fmancial stalements Page 5
The Mustardseed Arts & Educational Trust Notes to the Finanelal Statements for the year ended 5 Aprll 2024 ACCOUNTllW4G POLICIES Basis of Prepffing the finanelal statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 102} 'A¢counting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparitig their accounts in accordan¢¢ with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective l Janu8ry 2019),, Financial Rq)ortitig Standard 102 'The Financial Rep)rting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under th¢ historical Cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement the fund& it is probable that the income will be re1Ved and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure soon as there is a lega] or constructive obligation committing the clwity lo that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation ¢an be m¢&8ured reliably. Expenditu is accounted for on an accruals basis and h&s been classified under headings that aggregate all Cost related to the category. Where costs ¢aDnot be directly attributed to particular headings they have been alloca to activities on a basis coLqisfrnt with the use of resources. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the diwetion of the trnsiees. Restricted funds Can only be used for particular restrA¢ted pury)oses within the objects of the chaTity. Restrictions arise when specified by the donor or wIn funds are raised for particular restiicted purposes. Further explanation of the nature and puryx)se of each fimd is included in the notes to the financial siatements. VESTMEwf INCOME 2024 2023 Deposit account interest 684 430 TRUSTEES, REMUNERATION AND BENEFITS There were no tTUStees' remunerntion or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023. Trustees, expenses There were no twstees, expenses paid for the year ended 5 April 2024 nor for the year ended S April 2023. Page 6 continueiL..
The Mustardseed Arts & Educational Trust Notes to the Financial Statements- continued for the year ended 5 April 2024 COMPARATIVES FOR THE STATEMENf OF FINAI¥CIAL AcfIviTIES Unrestrict¢d fimd R¢8tricted fi]nd Total funds INCOME AIYD ENDOWMENTS FROM Donations and legacies 241,559 42,973 284,532 Investment income 430 430 Total 241,989 42,973 284,962 EXPENDITURE ON Charitable activities Donations Genetal Exp 282,316 24,880 42,973 325,289 24,880 Tota] 307,196 42,973 350,169 NETINCOMEI(EXPENDITURE) (65,207) (65,207) RECONCILIATIOIY OF FUNDS Total fimds brought fon¥ard 122,060 122,060 TOTAL FufsDS CARRIED FORWARD 56,853 56,853 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other Creditors 1,440 MOVEMENT IN FUNDS Net mov¢m¢nt in funds At 5.4.24 At 6.4.23 Unrestrlcted funds General fund 56,853 37J98 94.251 TOTAL FUNDS 56,853 37J98 94,251 Page 7 continued...
The Mustardseed Arts & EdueAdonai Trust Notes to the Ffnaneial Statements - continued for the year ended S April 2024 MOVEMENT IN FUNDS- Continued Net movement in funds, included in the ave are as follows: Incoming ro40urces Resources Movement expend¢d in funds Unrestricted funds General fund 216,455 {179,057} 37,398 Restricted funds School 116,394 (116,394} TOTAL FUNDS 332,849 (295,451) 37,398 Comparatives for movement in funds Net Jnovement in fimds At 5.4.23 At 6.4.22 Unrestricted fullds General fund 122,060 (65,207) 56,853 TOTAL FUNDS 122,060 (65,207) 56,853 Comparative net movement in fLmd& included in the aix)ve are as follows: Incoming resources Movement in fun(L8 Unrestrlcted funds General fLmd 241,989 (307,196) {65,207) Restrlcted funds School 42,973 (42,973) TOTAL FUNDS 284,962 (350,169 } (65,207) Page 8 continued...
The Mustard8eed Arts & EdueationAI Trust Notes to the Finaneial Statements - conllnued for the year ended S April 2024 MOVEMENT IN FUNDS- continued A curr¢nt year 12 mondLS and Prior year 12 months combtned position is &8 follows: Net movement in fund8 At 5.4.24 At 6.4.22 Unrestricted funds General fund 122,060 (27,809) 94,251 TOTAL FUNDS 122.060 (27,809} 94,251 A current year 12 months and prior year 12 months combined net movement in fimds included in the above a as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds Generdl fund 458,444 (486,253 } (27,809) Restritted funds S¢hwl 159,367 (159.367} TOTAL FUNDS 617,811 (645,620) (27,809) RELATED PARTY DISCU)SURES There were no related party transtionS for the year ended 5 April 2024. Page 9