REGISTERED COMPANY NUMBER: 01399239 (England and Wales) REGISTERED CHARITY NUMBER: 508528 Unaudited Financlal Statements for the year ended 31 December 2024 ror Mucklow Charitable Trust Limited DJH Halesowen Limited Church Court stourbridge Road Halesowen 8633
Mucklow Charitable Trust Limited Contents of the Financial Statements for the year ended 3 1 December 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Actwitles Balance Sheet Notes to the Financial Statements Detalled Statement of Financial Activiknes
Mucklow Charitable T¥ust Llmited Report of the Trustees for the year ended 31 December 2024 The trustees who are also dlrertors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 De(ember 2024. The trustees have adopted the provislons of Accounting and Reporting by Charities: Statement of Recommended Pracitce applicable to charities preparing their accounts in accordance witli the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019). OBIECTIVES AND ACTIVITIES Objectives and aims The charity exisis to promote any charitable purposes permitted according to the law of England and Wales. It undertakes charitable gNing and related actiwties with the alm of supporting charitable bodies and olher organizatlons establlshed for or hel,ng to further those charitable purposes. It measures success in the creation and provlslon of funds for such bodies. Signif icant actlvitles Durlng the year the charity contlnued fits grant making activitles, providing fijnds to bodies benefitting charitable causes. Publlc beneflt The trustees have had regard to the Charity Commission guldance on publlc benefit. ACHIEVEMENTS AND PERFORMANCE Charitable actlvitles During the year the charlty continued its charitable givingi making a range of grants, as detailed in the Notes to the financlal slatements. Investment performance The trustees are pleased with the performance of the charity's Investments in the year, which have generated valuable dlvSdend Income and have shown some growth In market values. FINANCIAL REVIEW Flnanclal position The trustees consider the charity's financial position at the end of the year is heallhy. The charity's investments have been strengthened by the donation of É335,618 of investment assets to the charity by Its trustees, and these have helped to generate dividend income and market value gains. Investment policy and objectives The trustees hold investments intended to provide an acceplable combination of security together with generation of income and value growth. Reserves pollcy The trustees aim to maintain a level of Teserves sufficient to to pmvide a degree of resilience agalnst potenttal future challenges. At the end of the year the reseNes of the charity amounted to £14,801 (2023: £26,783). FUTURE PLANS The charty intends to continue to maintain its investment holdings and make grants to worthy causes as ftjnds permit. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity 15 controlled by its governing document, a deed of trust, and conslitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The charity is controlled by Its governin9 document, its memorandum and articles of a550ciation, and constitLttes a limited company, limited by guarantee, as defined by the Companies Act 2006. Recruitment and appointment of new trustees The directors (trustees) are selected from the Mucklow family. Organlsational structure The trustees meet regularly to supervlse the activities of the charity, though Individual investment declslons are delegated to the investment managers. Induction and tralning of new trustees Trustees are prowded with Charity Commi551on guidance on their role, and briefed on the nature and purposes of the charity. Page I
Mucklow Charitable Tiust Limited Report of the Trustees for the year ended 31 December 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The trustees have 6 duty to identify and review the risks to which the chority is exposed and io ensure appropriate controls are in place to provide reasonable assurance against fraud and error. RIFERENCE AND ADMINISTRATIVE DETAILS Registei"ed Company number 01399239 (Engl6nd and Wales) r<egistei'ed Chai'ity nuinbei. 508528 Registered office Church Court stourbridge Road Halesawen West Midland5 B633 Triistees A l Mucklow Company Director Mrs M A Hickman Company Director P M Petherbridge Solicitor G J Mucklow Director R J Mucklow Director Company Secretary P M Petherbridge Independent Examlnei. Mark Howell FCA DJH HalesDwen Limited Church Court Stourbridge Road Halesowen B633 This rerjort has been prepaTed in accordance viith ihe special Pro510n$ of Part 15 of the Companies Act 2006 rdalin9 smèll companles. Approved by order ol the board of trustees on ....... . . and signed on fts behalf by: Ai Mucii]oiv- Trustee Page 2
Independent Examiner's Report to the Trustees of Mucklow Charitable Trust Limited Independent examlner's report to the trustees of Mucklow Charitable Trust Limited ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Responsibilities and basis of report As the charivs trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the 3ccounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Hawng satisfied myself that the accounts of the Company are not requlred to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the CharitFes Act 2011 ('the 2011 Act,). In carrying out my examination I liave followed the Directions given by the CharlLV Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement Since your charity's gross Income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants In England and Wales, which is one of the listed tNJdles. I have completed my examlnatlon. I confirm that no matters have come to my attentlon in connection with th& examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or the accounts do nol accord with those records; or the accounts do not comply with the accounting requirements of Section 396 of Lhe 2006 Act other than any requirement that the accounts gtve a true and fair view which is not a matter considerecl as part of an Independent examlnatlon; or the accounts have not been prepared in accordance with the methodg and principles of the Statement of Recommended Practice for accounting and reporting by charitie5 (applicable to charities preparing Lhelr accounts in accordance wllh the Financial Reportin9 Standard applicable in the UK 3nd Republic of Ireland (FRS 102)). I have no concerns and liave come across no olher matters in connection wilh the examination to which attentlon should be (irawn in thls report In order to enable a proper understanding of the accounts to be reached. Mark Howell FCA The Institute of Chartered Accountants in England and Wales DJH Halesowen Llmited Church Court stourbridge Road Halesowen 863 3rr 10 September 2025 Page 3
Mucklow Charitable Trust Limited statement of Financial Actiwties for the year ended 31 December 2024 2024 Unrestricted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 335,618 540,148 Inveslment income 34,623 25,947 Total 370,241 566,095 EXPENDITURE ON Charltable activities Charitable glving and support cosis 6,489 6,621 Net gainsl(losses) on Investments (14,855) 40,128 NET INCOME 348,897 599,602 RECONCILIATION OF FUNDS Total funds brought forward 812,818 213,216 TOTAL FUNDS CARRIED FORWARD 1,161,715 812,818 The notes form part of these financial statement5 Page 4
Mucklow Charitable Trust Limited Balance Sheet 31 December 2024 2024 Unrestricted fund 2023 Total funds Notes FIXED ASSETS Inveslmenls 1,146,914 786,035 CURRENT ASSETS Cash at bank 15,191 27,139 CREDITORS Amounts falling due withln one year (390) (356) NET CURRENT ASSETS 14,801 26,783 TOTAL ASSETS LESS CURRENT LIABILLTIES 1,161,715 812,818 NET ASSETS 1,161,715 812,81B FUNDS Unrestrlcted funds 1,161,715 812,818 TOTAL FUNDS 1,161,715 812,818 The charitable company is entilled lo exemption from audit under Secknon 477 of the Companles Act 2006 for tlie year ended 31 December 2024. The members have not required the company to obtain an audit of its financial statements for Ilie year ended I l December 2024 In accordance with Section 476 of the Companies Acl 2006. Th8 trustees acknowledge their responsibllilies for (a) ensurlng that the charitable con)pany keeps accountlng records that cornply with SectlDns 386 and 387 of the Companles Act 2006 and prepariiig financial statements which give a true and fair wew of the state of affalrs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and whicli otherwise comply with the requirements of the Companies Act 2006 relating to financlal statements, so far as applicable to the charitable comp3ny. These financial statements have been prepared in accordance with the provisions applicable to charltable comp.anies subject to tlie small companies regime. The financial statements were approved by the Board of Trustees and authorlsed for issue on 10 September 2025 and were slgned on Its behalf by,, (b) AJ MuckioiY- Tnjstee The notes form part of these financial statements Page 5
Mvcklow Charitable Trust Limited Notes to the Financial Statements for the year ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing the flnancial statements The financial statements of the charitable company, which is a public benefit entty under FRS 102, have been prepared in accordance with the Charibes SORP (FRS 102) 'Accounting and Reportlng by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 102) {effectrve l January 2019),, Financial Reporting standard 102 'The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the hlstorical cost convention, with the exceptlon of investments which are included at market value, as modified by the revaluation of certain assets. Income All income is recognlsed in the Statement of Financlal Aclrvitles once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured Yeliably, Expenditure Llabilities are recogni5ed as expenditure as soon as there is a legal or constructive obligats'on commtttlng the charity to that expenditure, il is probable that a transfer of economic benefits wlll be required In settlement and the amount of the obligatlon can be measured reliably, Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all c05t related to the category. Where costs cannot be dlrectly attrlbuted to particular headings they have been allocated to aclivilies on a basis consistent with the use of resources. Grants offered subject to conditiorbS which have not been met at the year end date are noted a5 a commitment but not accrued as expenditure. Taxatlon The charity is exempt from corporation tax on its charitable activitles. Fund accountlng Unrestricted funds can be used In accordance with the charilable objectives at the discretlon of the trnstees, Restricted fund5 can onW be used for particular restricted purp05e5 Withln the objects of the charity, Restdctions arise when specified by the donor or ¥vhen funds are raised for particular restricted purposes. Further explanation of Ihe nature and purpose of each fund is included In the notes to the financial statements. Investments Investments are ststed at fair value. INVESTMENT INCOME 2024 2023 Dividends recewed Bank interest 33,995 628 25,627 320 34,623 25,947 GRANTS PAYABLE 2024 2023 Charitable giving and support costs 6,000 6,000 The total grants paid to institutions during the year was as follows: 2024 2023 Salvation Army Black Country Food Bank The Britlsh Red Cross 3,000 1,000 2,000 3,000 1,000 2,000 6,000 6,000 Page 6 continued...
Mucklow Charitable Trust Limited Notes to the Financlal Statements - continued for the year ended 31 December 2024 NET INCOMEI(EXPENDITURE) Net incomel(expendtture) Is stated after chargingl{crediting): 2024 2023 Independent examination 300 276 TRUSTEES. REMUNERATION AND BENEFITS Tttere were rio trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 Deceinber 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES UnrestrScted fund INCOME AND ENDOWMENTS FROM Donations and legacies 540,148 Investment income 25,947 Total 566,095 EXPENDITURE ON Charltable actlvities Charitable giving and support costs 6,621 Net galns on Investments 40,128 NET INCOME 599,602 RECONCILIATION OF FUNDS Total funds brought forward 213,216 TOTAL FUNDS CARRIED FORWARD 812,818 Page 7 continued.
Mucklow Charitable Twst Limited Notes to the Financial Statements - continued for the year ended 31 December 2024 FIXED ASSET INVESTMENTS Llgted investments MARKET VALUE At l January 2024 Additions Revaluations 786,035 375,734 (14,855) At 31 December 2024 1,146,914 NET BOOK VALUE At 31 December 2024 1,146,914 At 31 December 2023 786,035 There were no investment assets outslde the UK. Cost or valuation at 31 December 2024 is represented by., Llsted nvestments Valuation in 2024 1,146,914 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 390 356 RELATED PARTY DISCLOSURES During the year Investments valued at £335,618 (2023.. £540,148) were glfted by trustees to the chadty. Page 8
Mucklow Charitable Trust Limited Delailed Statement of Financial Activtties for the year ended 3 1 December 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Glfts 335,618 540,148 Investment income Dividends received Bank interest 33,995 628 25,627 320 34,623 25,947 Total incomlng resources 370,241 566,095 EXPENDITURE Charitable actlvities Grants to Snsiitutlons 6,000 6,000 Support costs Finance Sundries 8ank charges 215 40 60 60 255 Governance costs Independent examination Accountancy fees 300 129 276 90 429 366 Total resources expended 6,489 6,621 Net income before gains and 105ses 363,752 559,474 Realised recognlsed gains and105ses Realised gains/(losses) on fixed asset investments Unrealised galnsl(losses) on flxed asset investments (8,820) (14,855) 48,948 Net income 348,897 599,602 This page does not form part of the statutory financial statements Page 9