``` REGISTERED CHARITY NUMBER: 328151 ``` ## **`REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS`** ``` FOR THE YEAR ENDED 31 MARCH 2023 ``` ## **`FOR`** ``` THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS ``` ``` Orcom Civvals Limited Accountants 50 Seymour Street London W1H 7JG ``` ``` THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS ``` ## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023`** ||**`Page`**| |---|---| |**`Report of the Trustees`**|`1 to 3`| |**`Independent Examiner's Report`**|`4`| |**`Statement of Financial Activities`**|`5`| |**`Balance Sheet`**|`6`| |**`Notes to the Financial Statements`**|`7 to 10`| |**`Detailed Statement of Financial Activities`**|`11`| ``` THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023`** ``` TheTrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended 31 March2023.ThetrusteeshaveadoptedtheCharitiesSORP(FRS102)"AccountingandReporting by Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS 102) (effective 1 January 2019)". ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` The object of the charity is to advance the education of handicapped and disabled young persons in arts. ``` ``` Thisisachievedthroughawardingfundstoparentsorotherindividualresponsiblefora physically disabledchildoranorganisationwhichrequiresfinancialassistancetofurthertheartistic development of disabled children. ``` ``` ThetrusteeshavereferredtotheguidancecontainedintheCharityCommission'sgeneralguidance on publicbenefitwhenreviewingtheaimsandobjectivesofTheMFPAFundfortheTraining of Handicapped Children in the Arts and in planning its future activities. ``` ## **`Donation making policy`** ``` Thetrusteeshavereviewedthepolicywithregardtodonationsmade,asitwasfeltthatdueto the increasing amount held within the accounts, the parameters of support needed to be extended. ``` ``` Thetrusteeswill,infuture,considerrepeatannualdonationstothesameapplicants,wherethey are continuinglessonsortraining.TheTrusteeswillalsoincreasetheamountfundedtoeachgroup or individual to £20,000. ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ## **`Charitable activities`** ``` TheTrustFunds"UniqueArtAwards"whichwascompletedagainin2023.Itisacompetitionto find youngdisabledartistsacrosstheUKandrecognisetheirhardwork.In2023therewereagain,two age groups7-15and16-21,theawardswerefor2DArt,3Dsculpture,photography,performanceand digital art.Itwasagaina greatsuccess,whichculminatedina galapresentationeveninginLondonin October. Thirtyfinalistattendedthateveningwheretheyreceivedtheirawards,AlisonLapperMBEwas the main guest of honour who spoke to inspire the winners and present the awards.. ``` ``` ThetrustfundisstillworkingwithacharitycalledFlatSpaces,acharitabletrustwhichenables people withseveredisabilitiestogoonholidaywith'AccessAssured'.TheMFPATrusteesarefundingsome art andmusictherapyworkshopsforindividualsandorganisationsatFlatSpaceinHampshire. Other organisationsreceivingfinancialhelpfromMFPATrustFundalsoincludeTreloarTrust,Anjali Dance Company, Teabag Charity to name a few. ``` ## **`FINANCIAL REVIEW`** ## **`Review of activities and results`** ``` FinancialresultsfortheyeararesetoutintheStatementofFinancialActivitiesonpage5and the position at the end of the year is shown in the balance sheet on page 6. ``` ``` Duringtheyear,therewasasurplusof£239,930(2022:£150,012).Thesurplusishigherthan the previousyearbecauseofaincreaseindonationsandlegaciesreceived.Thecharitableexpenditure for year amounted to £85,620 (2022: £49,137). ``` ``` The year end cash balance was £1,995,880 (2022: £1,755,684). ``` ``` Page 1 ``` ``` THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023`** ## **`FINANCIAL REVIEW`** ## **`Reserves policy`** ``` At31March2023,thetrusthadunrestrictedreservesof£1,992,774(2022:£1,752,844).The Trustees aimtomaintainsufficientfreereservestoenablethecharitytocontinueitsworkatthecurrent level and, if possible, to increase it. ``` ## **`FUTURE PLANS`** ``` TheTrusteesareactivelyinvestigatingwaystoinvest50-75%ofitscapitalin2023-2024.Butthis taken longertodobecauseofthevolatilityofthemarketsinthelastfewmonthsof2023.TheTrustees are alsoconsideringthepossibilityofinvestinginpropertyinBrighton.Thiswouldbeusedspecifically for the use of a young disabled arts student from the university. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` TheMFPAFundfortheTrainingofHandicappedChildrenintheArtsisconstitutedunderatrust deed dated 7 October 1988 and is a registered charity. It's charity number is 328151. ``` ## **`Recruitment and appointment of new trustees`** ``` Theboardhavethepowertorecruitnewtrustees.Thenewtrusteescanonlybeappointedifthey have agreed to become a member of the charity and their names have been entered in the register. ``` ## **`Organisational structure`** ``` Thetrusteeswhohaveservedduringtheyeararementionedbelow.Trusteesareappointedby the boardoftrusteesandserveforfiveyearsafterwhichperiodtheymayputthemselvesforward for re-appointment. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Registered Charity number`** ``` 328151 ``` ## **`Principal address`** ``` 9 Inverness Place London W2 3JG ``` ## **`Trustees`** ``` T Yendell K Jansz I Parker ``` ## **`Independent Examiner`** ``` Aamir Kazi Orcom Civvals Limited Accountants 50 Seymour Street London W1H 7JG ``` ``` Page 2 ``` ``` THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023`** ``` Approved by order of the board of trustees on 31 August 2023 and signed on its behalf by: ``` ``` T Yendell - Trustee ``` ``` Page 3 ``` ``` INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS ``` ## **`Independent examiner's report to the trustees of THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS`** ``` IreporttothecharitytrusteesonmyexaminationoftheaccountsofTHEMFPAFUNDFOR THE TRAININGOFHANDICAPPEDCHILDRENINTHEARTS(theTrust)fortheyear ended 31 March 2023. ``` ## **`Responsibilities and basis of report`** ``` AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccounts in accordance with the requirements of the Charities Act 2011 ('the Act'). ``` ``` IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145ofthe Act andincarryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbythe Charity Commission under Section 145(5)(b) of the Act. ``` ## **`Independent examiner's statement`** ``` Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbea memberofa listedbody. I canconfirmthatIamqualifiedtoundertaketheexaminationbecauseIama memberoftheInstitute of Chartered Accountants in England and Wales, which is one of the listed bodies. ``` ``` Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention in connection with the examination giving me cause to believe that in any material respect: ``` `1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or` `2. the accounts do not accord with those records; or` `3. the accounts do not comply with the applicable requirements concerning the form 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.` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be reached. ``` ``` Aamir Kazi ``` ``` The Institute of Chartered Accountants in England and Wales ``` ``` Orcom Civvals Limited Accountants 50 Seymour Street London W1H 7JG ``` ``` 31 August 2023 ``` ``` Page 4 ``` ## **`THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS`** ## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023`** |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`Investment income`
`3`
**`Total`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`Resources expended`
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|**`2023`**
`2022`
**`Unrestricted`**
`Total`
**`fund`**
`funds`
**`£`**
`£`
**`321,517`**
`198,986`
**`4,033`**
`163`
**`325,550`**
`199,149`
**`85,620`**
`49,137`
**`239,930`**
`150,012`
**`1,752,844`**
`1,602,832`
**`1,992,774`**
`1,752,844`| |---|---| ``` The notes form part of these financial statements ``` ``` Page 5 ``` ## **`THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS`** ## **`BALANCE SHEET 31 MARCH 2023`** |`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`5`
**`CURRENT ASSETS`**
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`6`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT`**
**`LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`7`
`Unrestricted funds`
**`TOTAL FUNDS`**|**`2023`**
`2022`
**`Unrestricted`**
`Total`
**`fund`**
`funds`
**`£`**
`£`
**`397`**
`497`
**`1,995,880`**
`1,755,684`
**`(3,503)`**
`(3,337)`
**`1,992,377`**
`1,752,347`
**`1,992,774`**
`1,752,844`
**`1,992,774`**
`1,752,844`
**`1,992,774`**
`1,752,844`
**`1,992,774`**
`1,752,844`| |---|---| ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on 31 August 2023 and were signed on its behalf by: ``` ``` K Jansz - Trustee ``` ``` T Yendell - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 6 ``` ``` THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS ``` ``` NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ``` ## **`1. LEGAL FORM OF THE ENTITY`** ``` TheMFPAFundfortheTrainingofHandicappedChildrenintheArtsisacharityregistered in EnglandandWales.Itsregisterednumberandregisteredofficeaddresscanbefoundin the report of the trustees. ``` ## **`2. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharity,whichis a publicbenefitentityunderFRS102,have been preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland (FRS 102) (effective 1 January 2019)'. ``` ``` The presentation currency of the financial statement is Pound Sterling (£). ``` ## **`Income`** ``` AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhas entitlement tothefunds,itisprobablethattheincomewillbereceivedandtheamountcanbe measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation committingthecharitytothatexpenditure,itisprobablethata transferofeconomicbenefits will berequiredin settlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they have been allocated to activities on a basis consistent with the use of resources. ``` ## **`Tangible fixed assets`** ``` Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its estimated useful life. ``` ``` Equipment- 25% on reducing balance ``` ## **`Taxation`** ``` The charity is exempt from tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular restricted purposes. ``` ``` Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotesto the financial statements. ``` ``` continued... ``` ``` Page 7 ``` ``` THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`** ## **`3. INVESTMENT INCOME`** |**`INVESTMENT INCOME`**||| |---|---|---| ||**`2023`**|`2022`| ||**`£`**|`£`| |`Investment income`|**`4,033`**|`163`| ## **`4. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2023nor for the year ended 31 March 2022. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31March2023norfortheyear ended 31 March 2022. ``` ## **`5. TANGIBLE FIXED ASSETS`** |**`5.`**|**`TANGIBLE FIXED ASSETS`**||| |---|---|---|---| ||||`Equipment`| ||||`£`| ||**`COST`**||| ||`At 1 April 2022 and 31 March 2023`||**`20,876`**| ||**`DEPRECIATION`**||| ||`At 1 April 2022`||**`20,379`**| ||`Charge for year`||**`100`**| ||`At 31 March 2023`||**`20,479`**| ||**`NET BOOK VALUE`**||| ||`At 31 March 2023`||**`397`**| ||`At 31 March 2022`||`497`| |**`6.`**|**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**||| |||**`2023`**|`2022`| |||**`£`**|`£`| ||`Other creditors`|**`3,503`**|`3,337`| ``` continued... ``` ``` Page 8 ``` ``` THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`** ## **`7. MOVEMENT IN FUNDS`** |`At 1/4/22`
`£`
**`Unrestricted funds`**
`General fund`
**`1,752,844`**
**`TOTAL FUNDS`**
**`1,752,844`**
`Net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Unrestricted funds`**
`General fund`
**`325,550`**
**`TOTAL FUNDS`**
**`325,550`**
**`Comparatives for movement in funds`**
`At 1/4/21`
`£`
**`Unrestricted funds`**
`General fund`
`1,602,832`
**`TOTAL FUNDS`**
`1,602,832`||`Net`
`movement`
`in funds`
`£`
**`239,930`**
**`239,930`**
`Resources`
`expended`
`£`
**`(85,620)`**
**`(85,620)`**
`Net`
`movement`
`in funds`
`£`
`150,012`
`150,012`|`At`
`31/3/23`
`£`
**`1,992,774`**
**`1,992,774`**
`Movement`
`in funds`
`£`
**`239,930`**
**`239,930`**
`At`
`31/3/22`
`£`
`1,752,844`
`1,752,844`| |---|---|---|---| ||||| ||||| ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`199,149`
`199,149`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(49,137)`
`150,012`
`(49,137)`
`150,012`| |---|---|---| ``` continued... ``` ``` Page 9 ``` ``` THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`** ## **`7. MOVEMENT IN FUNDS - continued`** ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1/4/21`
`£`
`1,602,832`
`1,602,832`|`Net`
`movement`
`in funds`
`£`
`389,942`
`389,942`|`At`
`31/3/23`
`£`
`1,992,774`| |---|---|---|---| ||||`1,992,774`| ``` A currentyear12 monthsandprioryear12 monthscombinednetmovementinfunds,included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`524,699`
`524,699`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(134,757)`
`389,942`
`(134,757)`
`389,942`| |---|---|---| ## **`8. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 31 March 2023. ``` ``` Page 10 ``` ## **`THE MFPA FUND FOR THE TRAINING OF HANDICAPPED CHILDREN IN THE ARTS`** ## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023`** |**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Donations and legacies`
**`Investment income`**
`Investment income`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Charitable activities`**
`Awards to charitable organisations`
`Awards to children`
`Art awards`
**`Support costs`**
**`Management`**
`Advertising and promotions`
`Legal fees`
`Accountancy`
`Independent examination`
`Depreciation`
**`Finance`**
`Bank charges`
`Total resources expended`
**`Net income`**|`2023`
`£`
**`321,517`**
**`4,033`**
**`325,550`**
**`56,669`**
**`11,023`**
**`12,991`**
**`80,683`**
**`1,044`**
**`-`**
**`2,278`**
**`1,226`**
**`99`**
**`4,647`**
**`290`**
**`85,620`**
**`239,930`**|`2022`
`£`
`198,986`
`163`| |---|---|---| |||`199,149`
`26,097`
`5,520`
`10,944`| |||`42,561`
`2,250`
`557`
`2,168`
`1,168`
`124`| |||`6,267`
`309`| |||`49,137`| |||`150,012`| ``` This page does not form part of the statutory financial statements ``` ``` Page 11 ```