The Charity Commission has opened a statutory inquiry into Manor Building Preservation Trust Ltd, over concerns regarding the possible misuse of funds and assets belonging to the charity, which is involved with the preservation and restoration of listed buildings and owns property in the UK and the Ukraine
The regulator says analysis of the charity’s accounting information has identified that the trustees may be abusing the charity for significant private gain and that the charity is not operating for the public benefit.
The commission is also concerned about a possible failure by the trustees to manage conflicts of interest at the charity, which is registered to an address in Bedfordshire.
The commission has used its powers to prevent the trustees and their bankers from parting with any property or funds belonging to the charity including investments and a grade II listed building.
According to commission’s website Manor Building Preservation Trust, which was founded in 1999, was not required to file annual accounts for several years because its income was below the £10,000 threshold.
The inquiry will examine, among other issues, the financial controls, management and application of the charity’s funds, property and assets and whether there has been any misconduct and/or mismanagement by the trustees. It will consider whether remedial regulatory action is necessary.
The commission will also look at whether the trustees have acted prudently and exercised reasonable care in respect of the day-to-day running of the charity.
