REGISTERED COMPANY NUMBER.. 01399239 (Englaiid and Wales) REGISTERED CHARITY NUMBER: 508528 Fiiiancial Stalements for the year ended 31 December 2023 ror Muckloiv charitab Trust Llmited Nlcklin Accountancy Services Limited Church Court stourbrldge Road Halesowen West Midlands B633
Mucklow Charitable Trust Limited Conlents of ihe Financial Slaten)ents for the year ended 31 Decen)ber 2023 Page Report of Ilie Ttu.stees Indepei)dent Examlner's Rewrt Slatenient of Flnanclal Aciivltles Balance Slieet Casl) Flow Statenieiit Notes to the Cash Flow Statemeiit NolÈs to the financial Slatenienls 8 to 11 Detalled Statement of Fliianclal Aclivllies l2
Mucklow Cl)aritable T¥LlSt LlmllÈiJ Report of tlie Truslees for the year elided 31 December 2023 The trustees who are also direclois of the charity for tl)e puiposes of Ihe Coinpanles Act 2006, present their repurt with the financial statenients of the charity for Ihe year pi)ded 31 December 2023. The trustees have adopted the provislons of Accounting and Reportln9 by Charilles: Statement of Reconimended Pracuce appllcable lo charltles preparing Ihelr accounts In accordaiice iyilh ihe Fin3ncial Rewrting Standard appliiable In Ihe UK and Republic of Lreland (FRS 102) (effeclfve l January 2019). OBJECTIVES AND ACTIVITIES Objectlves and alms The charlty ex(sts to promote any charllable purpose5 permitted accordlng to the law of England and Wales. Jt uiidertakes charitable giving and related actlvllles with ihe ain) of supporting charltable bodies and ollier organlzattons eslablislied for or help5ng lo further those charitable purposes. It measures success in the creaiioi) and provlslon of funds for sucli bodles, Sl9nificaiit activities Durfng the year tlie charlty contlnued Ils grant maklng aclillllesi providiiig ftjnds to bodies benefittlng cliarilable causes. Publlc beiieflt Tl)e trustees have had regard lo the Charlty Con)nilsslon guldance on public benefit. ACHXEVEMENT AND PERFORMANCE Charltaijle attlvltles Durlng the year Ilie cl)arily expanded Ils chaFitable 9Ing, maklng a rangè of grants, as detalled In the Notes to tlie riiianclal stalenients. Xnvestment perforniance The trustees are pleased with the perforniance of the charlty's Investments In Ihe year, Ivl)Ich have generated valuable dlvldend Incon)e arid have sho¥vn 9rowth In market values. FINANCIAL REVIEW Flnancial posltloii Tl)e trustees coiislder Uie charlty's Ilnanclal poslllon al the end of the year Is heallliy. The charlty's Investments have been strengthened by 11)e donallon of £540,148 of Investhient asseis to the charlty by Ils IrLsslees, and these have helped lo gÈnerale dfvldend Income and market value galns. Investiiient pollcy aiid objectlves The trustees l)Jld IiivÈslmÈnts intended to provide an acceplèble combinallon of securlty together wlth generauon or Ii)coine aiid value growth. Reserve$ pollcv The Inistees aim to niainlain a level of reserves sufficlent to to piovlde a degree of reslllence agalnst potentlal future challenges. At the eiid of the year the reserves of Ihe charity amounted to £26,783 (2022: £33,003). FUTURE PLANS Tlie cliarlty Inlends to conllnue to malnlain Its Investnient holdings and make graiits to viorlhy causes as funds peTmit. STRUCTURE, GOVERNANCE AND MANAGEMENT Goveriiliig documeiit The challty Is controlled by Ils governing document, a deed of trust, and constl(utes a Ilmlted con)pany, limlted by guarantee, as defined by the Companles Act 2006. The charlly Is controlled by Ils governlng docun)ent, Its rnemorandum and articles of association, aiid conslitules a Iln]Iled con)pany* Ilmlled by guarantee, as defliied by the Companles Act 2006. Recrultment and appolntment of new trustees The dlreclors (Irvstees) are selected froni the Mucklo%Y family. Organlsatloiial structure The Iruslees meet regularly to superwse the activltie5 of the charity, though Ii)dlvidual Investnient decislons are delegated to the Investment monagers. Inductlon and traiiiiiig of new tru5tee5 Trustees are proifjded wltli CharSty Commi551on guidance on their role, and briefed on the nature and purposes of tlie charity. Page I
Mutklow Charllable Trust Llmlled Report of the Trusiees ror the year ended 31 December 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT R15k management The truslees have a duty to Identlfy and re¥lew the rt5ks to whkh the chaTIty 15 exposed and to ensure approprlale ontrols are In F4are to provlde reasonable assurance agah5t Irèud and rOr. REFERENCE AND ADMINISTRATIVE DETAILS Regi$tered Comphny number 01399239 (England and Wales) Reglstered Chailty number 50B528 Reglstered offl¢e Church Court stotsrbrldge Road Halesowen West Mlthands B633 Trustoes A J Mucklow Ccwpany D5rector Mrs M A Hicknian Company Dlreclor P M Pelherbrklge Sollcltor G J Mucklow Dlrector R J Mucklow Dlrector Company Secretary P M Petherbrldoe Xndependent Examlner Mark Howell FCA Mlcklln Accountsn¥ry Seke$ Llmlled Cthufch Court StourbTldge Road Halesowen West Mldlands B63 3rr Thls report has been prepared In accordante 1h Ihe speclal prowsions ol Part 15 of the Companle5 Act 2¢Xt6 relat¢ng lo small companlts, Approved by order of the board of trustees o 20 September 2024 and slgned on Its behalf by: A J Muckbw. Twslee Page 2
Independent Examiner's Report to tl)e Trustees of Mtjcklow Charilable Trusl Llnilted Ii)dependeiit examiiior's report to tlie trustees of Mucklow Chzritable Trust Llnilted {'the Coinpaiiy,) I report to Ilie cliarity trustees on my examlnallon of Ihe accounts of Uie Company for the year ended 31 Oeceinber 2023. Respon51bllltle5 aiid basis of report As the charivs trustees of the Company (and algo its direclors for Ihe purposes of conip31)y law) you ale responslble for the preparétion of tlie accounts li) accordance with the requirements of the Companies Act 2006 ('Ihe 2006 Acv). Haiqng s3llsfiod myself that the accounts of the Coiiipaiiy are not required to be audlted linder Part 16 of Ilie 2005 Act and are ellglble for Independeiil exainination, I retx)rt In respect of my exan)inalion of your chariivs accounts as carried out under Section 145 of tlie Chariues Act 201 I ('ihe 2011 Acl,). In carrying out niy exaii)inatlon I have followed the DIreConS given by the Cl)ariLy Commlsslon under Section 145(5) (b) of the 2011 ACL. Iiidependent exaillliier's stateinent Slnce your cllarlly's gross Income exceeded £250,000 your exèniii)er niusl be a men)ber of è lisled Liody. I can confirm Ilial I ani qualified to undertake the exan)Inatioii because l ain a meinber of the Institule of Charlered Accounlanls In England and Wales, wlilEI) Is oiie of the Ilsted bodies. I have conipleted my exaiiilnation. I confirni that no matters have come to niy allentlon In coiiiiecllon witl) the exainii)atlon glvlng me cavse to belleve: accoiinllng records were not kept in respect of the Company as requlred by Section 386 of the 2006 Act,. oi. the accounts do not accord wlth those records; or tlie aicouiits do not comply wllh the accounting requiremenls of Secilon 396 of the 2006 Act othei tl)aii aiiy requlremenl tl7al the accounts gwe a true and falr view wlilcli Is riot a matter consldered as part of an Independent examlnamon; or the accounts have not been prepared in aLLordance wlth the methods and princ(eS of the Statement of Recon)n)ended Pracbce for accouiitlng aiid reportlng by charilles (applicable lo charltles preparliig thelr accounts In accordance with the Flnaiiclal Reportliig Standard applicable In the UK and Republic of Ireland (FRS 102)). I have no concerns and have coi)ie across no other matters in conneclloi) with tha e%an)Inallon lo whkh aitention sl)ould L)e draivn In thls report In order to enable a proper underslandlng of tl)e accounts to be reached, Mark Howe FCA The Iiislitute of Chartered Accountaiits In England and Wales Nlckliii AccounlanLy Servlces Llmited Churcli Court Stourbridge Roa<J Halesoiyen We51 Mldlai)ds B633 Dale: Page 3
Muckloiv Charitable Trust Lin)ited Stalenient of Financial Aclivilies for the year ended 31 December 2023 2023 Unrestricted fund 2022 Total ftinds Notes INCOME AND ENDOWMENTS FROM Danalloiis aiid legacies 540,148 279,523 Iiivestnient Inconie 25,947 28,217 Total 566,095 307,740 EXPENDITURE ON Cliarltable actlvlties Cl)arltable glvino arid support cosfs 6,621 1,098 Net galnsl(Iosses) on Investments 40,128 (218,503) NET INCOME 599,602 88,139 RECONCILTATION OF FUNDS Total fund5 brought forward 213,216 125,077 TOTAL FUNDS CARRIED FORWARD 81?,818 213,216 The notes foim part of these flnandal.£lalements Page. 4
Mucklow Cliarltable Trust Llmlted Balance Slieet JI December 2023 2023 Unre5lficted fund 2022 Total fvnds Notes FIXED ASSETS Lnvestn)ents io 786,035 180,2 L3 CURRENT ASSETS Debtors Cash at bank li 243 33,116 27,139 27,139 33,361 CREDITORS Aniounts falling due wllhin one year 12 (356) (358) NET CURRENT ASSETS 26,783 33,003 TOTAL AsseTS LESS CURRENT LIABILITIES 812,818 213,2L6 NET ASSETS 812,818 213,216 FUNDS Unrestrlcted funds 812,818 2J3,216 TOTAL FUNDS 812,818 213,216 Tlie cliarllable company Is eiilltled to exeniption from audll under Section 477 of the Companles Act 2006 for the year ended 3£ December 2023, The members have riot requlred the conipany to oblaln an audit of its flnanclal slalemeiits for the year elided 31 Decen)ber 2023 In accordance wlth Section 476 of ihe Companles Act 2006. The trustees acknowledge thelr responslbilitles for (a) ensurlng th3L' the cl)arllable conipèi)y keeps accountlng records that comp5y With Sections 386 and 387 of the Compaiiles Act 2006 and preparing flnanclol statements whlch give a true aiid fair view of the slate of affalrs of the charitable conipany as at the end of each flnanclal year and of Its surplus or deficit for eacli financial year In accordai)ce willi Uie requl¥enieiits of Secllons 394 and 395 arid whlch ouierwise comply wlth the requlreiiiei)ts of the Corijpanles Act 2006 relaung to finaiiclal slalenients, so far as applicable to the charitable conipany. (b) Tliese fln3nclal stalermenls have beeii prepared Iii accordance wilh the provlslons appllcable to charltable cor7)paiiies subject to the sm811 compbiiles rÈg5me, The fliiancial statements were approved by the Board of Trustees and authorised for Issue on 20 September 2024 and were slgned ori its behalf by,, A J Mucklow - Ttustee The noles form part of tl)ese financial statements Page 5
Mucklow Cl)aritable frust Llmlted Casl) Flow Statement for the year elided 31 Decen)t)er 2023 2023 2022 Casl) flows froii) oyeratliig activltles Cash gei)eiated froni operalions (6,380) 3,059 Nel cash (used 1n)Iproded by operatlng activilies (6,380) J,Q59 Casli flows froiii liivestlng activitles Purchase of llxed assel Investments Sale of fixed asset Inveslrnents Interest received Dlvidends received (415,030) 389,484 320 25,627 35 28,182 Net casli provkled by Investing acknvilies 401 28,217 Cl)ange In casli and casli eqiiivaleiits Iii tlie ¥eportliig perlod Casli aii(I casli equlvalents at tlie begliiiilng of the reportlng perlod (5,979) 31,276 33,lJ8 1,842 Casli and cash equlvaleiits at the end of the reportlng pariod 27,139 33,118 Tho notes lorm part of these financlal statements Page 6
Mucklow Charitable Tnjst Llnilled Notes to the Casl) flow Slalemeiit for Ihe year ended 31 December 2023 RECONCXLIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net Iiicoi)ie for the Yeportlng perlod (as per the Statement of Fliiaiiclal Activltles) Adjustmeiits for: {Gaii))1105ses on Inveslniei)Is Interest recelved Dlvldends recefved OonJllon of Investnienl assets received Decrease In debtors Decrease In creditors 599,602 88,139 (40,128) (320) (25,627) (540, 148) 243 (2) 218,503 (35) (28,182) (279,523) 4,157 Net cash (used in)IprovldÈd by operatlons (6,380) 3,059 ANALYSIS OF CHANGES IN NET FUNDS At I,1.23 Cash flow At 31.12,23 Net casli Cash al bank 33,118 (5,979) 27,139 33,118 (5,979) 27,139 Total 33,118 (5,979) 27,139 The notes form of these financlal slatenients Page 7
Mucklow Cliaritable TrusL Liniited Notes to the Financlal Statenionts ror Ine year elided 31 December 2023 ACCOUNTING POLICIES Basis of prepariiig the f inaiieial statements The fTnancial %lalements of il)e cliaritable compaiiy, wliich is a public benefit entiiy under fRS 102, have been ijrepared In accordance will) the Charilies SORP (FRS 102) 'Accountiiig and Reportiag by Chorilies., Stalemenl or Recommended Practice applicable to charilles preparing their accounts in accordance with the Financial Reportiiig Slandard appllcable In 11)e UK arid Republic of Ireland (FRS 102) (effeclNe l January 2019),, Flnai)clal Reporting staridard 102 'TI)e Fli)ancSal Repoitiiig Standard applicable in the UK and Rewblic of Ireland, aiid tlie Coiiipanies Act 200G. The flnancial statements hève been prepared undei the historical cost convention, with the excepllon of InvÈsin)ents which ale Included al market value, as mOdifd by the revaluallon of certain 3ssels. Inconie All incon)e is recognised in Ihe Statenient of Fiiiaiiclal Acliwlies once Uie cliarity Ilas entillemei)I to the funds, It 19 probable that the inconie wlll be received and 11)e amouiit can be measured ieliably. Expei)dlture Llabllitles are recognlsed as expendllure as soon as there Is a legal or conslrlicllve obligatlon coniinittln9 the charity lo tliat expendilure, It Is probable that 3 transfer of ecoilomlc benefils wlll be required in settlen7ent and the aniount of Uie obllgalloii can be n1eaSUr rellabsy. Expeiidilure Is accounted for on an accruals basls and has beeii classified ui)der l)eadli)gs iliat aggregate all cost related to the category. Where costs caiiiiot be dlreclly atirlbuted to partlcular headlngs they have been allocated lo actimlles 01) a basls conslstent witl) Ihe use of resources. Grants offered subject to coiidllioi)s whlch have not been mel at tl)e year end dale are noted as a con)n)Ilmentr but not accrued as expÈiiditure. Taxatloii The charity is exenipt froni coiporatlon tax on ils charttable aclivltles, Fuii¢l accouiitliig UnreslrSclÈd lunds can be used In accordance wilh tlie chaAlable objectives at the di%creUon of the trustees. Restslcted funds can only be used for partlcular resbicled purposes within ihe objects of Ilie cliatily. Restrictions arlse when speclfied by the donor or ivhen funds are raised for particiilar restrlcled purposes. Furllier explanalloii of the nalurÈ aiid purpose of eacl) fund Is included Iii Ilie i)oles to the fii)anclal stalements. Xiivestments i)vestnieiits are staled at falr value. DONATIONS AND LEGACIES 2023 2022 Glfts 540,148 279,523 INVESTMENT INCOME 2023 2022 Divldends iecetved Bank Interest 25,627 320 28,182 35 25,947 28,217 Page 8 contlnued...
Mucklow Cliarltsble Trusl Llnilted Note5 lo the Financial Staten)ents - conllnued for tlie year ended 31 Deceniber 2023 CHARLTABLE ACTIVITIES COSTS Grant funding of actiwtles (see note Siipport costs (see nole 6) Tolals Charltable glvlng and support costs 6,000 621 6,62L GRANTS PAYABLE 2023 2022 Charitable giving and support Costs 6,000 750 The total grants pald to inslltulions durlng the year was as follows: 2023 2022 Salvation Army Bulstrode Oncology Llnlt Black Country Food 8ank Tlie British Red Cross 3,000 250 500 1,000 2,000 6,000 750 SUPPORT COSTS Governance costs Flnance Tolals Cliarllable glvliig aiid support costs 255 366 621 Support costs, Included In the above, are as folbws.. Governaiice costs 2023 Chartlable giving arid support costs Total actlvllles Independont examlnatlon Accountancy fees 276 90 258 90 366 348 Page 9 conllnued...
Mucklow Cliorilable Trust Llmited Notes to the Financial Slalenients - coiilinued for tl)e year ended 31 Deceniber 2023 NET INCOMEI(EXPENDITURE) Net income/lexpenditure) is stated after chargin91(credlllng): 2023 2022 Independent examli)aiion 276 25B TRUSTEES, REMUNERATION AND BENEFITS There were no Iruslees, reinunÈiatioii or other beiiefits for the year ended 31 December 2023 nor for Ilie year ended 3 l Deceniber 2022. Tr(FStees' exyeiises There. were no truslees, expei)ses paid for the year ended 31 December 2023 nor for tlie year ended 31 December 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES UnreslilLled lund INCOME AND ENDOWMENTS FROM Doiiallons aiid gaCleS 279,523 Inveslmeiit Incon)e 28,217 Total 307,740 EXPENDITURE ON Cliarltable actlvitles Charitable 9lvlng and svpport cosls 1,098 Net galnslllosses) on iiiveslmenls (218,503) NET INCOME 88,139 RECONCILIATION OF FUNDS Total funds brougl)I foTward 125,077 TOTAL FUNDS CARRIED FORWARD 213,216 Pa9e 10 continued...
Mucklow Charitable Trust Llmlled Noles lo Ihe Flnancial Statements - continued ror Ihe year encied 31 Deceniber 2023 10. FIXED ASSET INVESTMENTS Llsted Invèslnients MARKET VALUE At l January 2D23 Additions DIspos¢ils Revaluatlons 180,213 (398,304) 48,948 At 31 Deceniber 2023 786,035 NET BOOK VALUE At 31 Dpcember 2023 786,035 At 31 Deceniber 2022 180,213 There were no Investment assels oulslde the UK. Cost or valuallon at 31 December 2023 Is represented by.. Llsled Investn)ents Valuallon In 2023 786,035 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Ollier debtors 243 12, CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 other creditors 356 358 13. RELATED PARTY DISCLOSURES Durlng the year inve5tment5 valued at E540,148 (2022: £279,523) were glfted by trustees to 11)e charlly. At the year end a total of Enll (2022: £243) was owed by irustees to Ihe charity. Page 11
Muckloiv Charllablp Tnjsl Limited Detalled Stalernent of Financlal Acliviites foi. the year ended 31 Deceniber 2023 2023 2022 INCOME AND ENDOWMENTS Doiiatlons and legacies Gifts 540,L48 279,523 Ii)vestiiieiit Iticoine Dlvidend% recefved Bank Iiiterest 25,627 320 28,182 35 25,947 28,217 Total li)coiMiiig resoiirces 566,095 307,740 EXPENDITURE Cliarltable actlvitles Gratils to in5tilLIIIoiis G,000 750 Sui)port Costs Ftiian¢e Sundnes 8ank charges 215 40 255 Goveriiaiice costs Independent examlnatlDn Accoui)tancy fees 276 90 258 90 366 348 Total resources expended 6,621 1,098 Net income before galiis ai)d10sse$ 559,474 306,642 Realised recogiilsed galn5 and1055es Reallsed gali)s1(1055es) 01) flxed asset Snvestments Uiireallsed galnsl(losses) on fixed asset Invesln)enls (8,820) 48,948 {218,503) Net iiicome 599,602 8t1,139 This page does not form part of the statutory financlal sl8tenients Page 12