Docusign Envebpe ID.. 4A2E1C3548FF4AB7-BC1D-58B85D00210E CHARITY REGISTtl&iTION NUMBER: 1003732 The Isaac and Freda Frankel Memorial Charitable Trust Unaudited Financial Statements 31 January 2023
Docusign Envebpe ID.. 4A2E1C3548FF4AB7-BC1D-58B85D00210E The Isaac and Freda Frankel Memorial Charitable Trust Financial Statements Year ended 31 January 2023 Page Trustees, annual report Independent examinees report to the trustees Statement of financial activities Statement of financial position Notes to the financial stateTnents
Docusign Envebpe ID.. 4A2E1C3548FF4AB7-BC1D-58B85D00210E The Isaac and Freda Frankel Memorial Charitable Trust Trustees, Annual Report Year ended 31 January 2023 The tnjstees present their report and th¢ unaudited financial statements of the ¢harity for the year ended 31 January 2023. REFERENCE AND ADMINISTIi4TIVE DETAILS Registered charity name Charity registration number Principal office The Isaac and Freda Frankel Memorial Charitable Trust 1003732 117 Bridge Lane London NWII 9JT THE TRUSTEES Mrs G Frankel Mr J Stcinhaus Mr M D Frankel Mr J Silki Independent examiner Benny Brenig FCA Cohen Arnold New Burlington House 1075 Finchley Road London NWI I OPU STRUCTURE, GOVERNANCE AND MANAGEMENT Structure The charity is governed by a Trust Deed dated on 9th July 1991. Governance and management The Trust Deed provides for a minimum of three trustees. Were there a requirement for new trustees. these would be identified and appointed by the remaining trustees. OBJECTIVES AND ACTIVITIES Objectives The advancement of religion in accordance with the Orthodox Jewish faith and the relief of poverty. Activities The charity makes grants lo various institutions which are identified by the lrnstees as advancing the objectives of the charity. Public benefit The trustees have considered the Charity Commission's guidance on public benefit and consider that the charity conforn)s with them. ACHIEVEMENTS AND PERFORMANCE During the year the charity made grants to over thirty organisations and institutions.
Docusign Envebpe ID.. 4A2E1C3548FF4AB7-BC1D-58B85D00210E The Isaac and Freda Frankel Memorial Charitable Trust Trustees, Annual Report fcoNrinMedJ Year ended 31 January 2023 FILYANCIAL REVIEW AND INVESTMENT POLICY The financial position of the charity is satisfactory. The trustces have Set a policy that the expendable cndowmcnt should be invcsted so a5 to maximise the total return with a low level of risk. The trustees annually review the risks thai the charity faces. To date these have mainly related to investment management and risks associaied with making grants to bona fide institutions. Re5erYes poliey The charity attempts to maintain sufficient reserves to meet the ever increasing demand on its funds from various charitable institutions. The trustees, annual report 'was approved on trustees by.. 8/11/2023 and signed on behalf of the board of tu5vJTrdby". , KIIS F-Lel Trustee
Docusign Envebpe ID.. 4A2E1C3548FF4AB7-BC1D-58B85D00210E The Isaac and Freda Frankel Memorial Charitable Trust Independent Examiner's Report to the Trustees of The Isaac and Freda Frankel Memorial Charitable Trust Year ended 31 January 2023 I report to the trustees on tlly examination of the financial statements of The Isaac and Freda Frankel Memorial Charitable Trust I'the charity,) for the year ended 31 January 2023. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of the ¢harity you Are re8ponsible for the prepgrAtion of the financi81 statements in accordance with th¢ requirements of the Charities A¢t 2011 ('the Act,). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in barrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. INDEPENDENT EXAMINER'S STATEMENT I havc complcted my cxamu)atiQDoconflrm that no matcrial tnatters have comc to my attention in connection with the examination giving me causc to believc that in any Tnaterial rc5PCCt.' accounting records were not kepi in respect of the charity as required by seciion 130 of the Act; or the financial statements do not accord with those records. or the financial statements do not comply with the applicable requirements concerning the forni 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 whkch is not a matter considered as part of an independent examination. I have no concerns and hav¢ ¢om¢ across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a pmper understanding of the accounts to be reached. DoGu$lgned by.. DOE8 6418649 ennyvrenig frcA Cohen Arnold Independent Examiner New Burlington House 1075 Finchley Road London NWII OPU 0811112023
Docusign Envebpe ID.. 4A2E1C3548FF4AB7-BC1D-58B85D00210E The Isaac and Freda Frankel Memorial Charitable Trust Statement of Financial Activitie5 Year ended 31 January 2023 2023 Unrestricted fijnds Total funds Total funds 2022 Note Income and endowments Donations and legacies Investment income 47,500 21,960 69,460 47,SlbO 21,960 57.520 21.307 Total income 69,460 78,827 Expenditure Expenditure on charitable activities Total expenditure (78.343) (78,343) {78J43) {78J43) (73,643) (73,643) Net gains on investments 5,863 5,863 28,283 Net (expenditure)lincome and net movement in funds (3,020) (3,020) 33,467 Reconciliation of funds Total funds brought fonvard Tvtul fulld¥ iarrivd furward 453,651 450,63 1 453,651 420,184 453,651 450,031 The statement of financial abtivities includes all gains and losses reCoglSed in the year. All income and expendtture derive from continuing activiiies. The nole5 page5 6 to 10 form part of these finwn¢ial staten*nts.
Docusign Envebpe ID.. 4A2E1C3548FF4AB7-BC1D-58B85D00210E The Isaac and Freda Frankel Memorial Charitable Trust Strdtement of Financial Position 31 January 2023 2023 2022 Note Fixed assets Investments 13 195,469 191,880 Current assets Debtors Cash al bank and in hand 14 17,527 238,835 256,513 5,858 256,362 (1,200) 255,162 450,631 450,631 262,371 Credttors: amounts falling due wlthln one year Nel current assets 15 (600) 261,771 Total assets le55 current liabilities 453.651 Nel assets 453,651 Fund5 of the charity Unrestricted funds 450.631 453,651 Total charity funds 16 450,631 453,651 Iyfi/cial statemcnls werc approved by the board of trustees and authorised for issue on , and arc signcd on behalf of the board by.. DoGuSlgned ,kltif".I'el Tru5tcc The nole5 page5 6 to 10 form part of these finwn¢ial statennts.
Docusign Envebpe ID.. 4A2E1C3548FF4AB7-BC1D-58B85D00210E The Isaac and Freda Frankel Memorial Charitable Trust Notes to the Financial Statements Year ended 31 January 2023 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 117 Bridge Lane, London, NWI 19JT. Statement of compliance These financial statements have been prepared in ¢ompliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republi¢ of Ireland,, the Statement of Recommended Practice applicable to charities preparing their ac¢ounts in accordance with the Financi31 Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting policies B#5l5 of preparation Thc financial statcmcnts havc been prcparcd on the historical cost basis. as modificd by the revaluation of certain financidl asscts and liabilities and investment propcrties mcasurcd at fair value through income or expenditure. The financial slalemenls are prepared in sterlin& which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of ihe financial statements requires management to make judgements. estimales and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of fi]ture events that are believed to be reasonable under the circumstances. Fund accounting Unrcstrictcd funds are available for use at the discretion of the truslees to further any of the charity's purposcs. Designated funds are unrestricted funds eannarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the tenns of an appeal. and fall into one of two sub-classes: restricted income fvnds or endowment funds. Incoming resources All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. Income from donations or grants is rccogniscd whcn there is evidcncc of unconditional entitlement to the gift. receipt is probable and its amount can be measured reliably. Donations represent voluntary an]ounts received during the year.
Docusign Envebpe ID.. 4A2E1C3548FF4AB7-BC1D-58B85D00210E The Isaac and Freda Frankel Memorial Charitable Trust Notes to the Financial Statements Iconiittued) Year ended 31 January 2023 Aecounting policies (cpKiiHued) Resources expended Expenditure is rccogniscd on an accruals basis as a liability is incurred. Expenditure include5 any VA T which cannot be fully recovered, and is classified under headings of the statement of financial aciivities to which it relates.. Expenditure on charitable activities includes all Costs in¢urred by a charity in undertaking activities that further its ¢haritable aims for the benefit of its benefi¢iaries, in¢luding those support costs and costs r¢lating to the governance of th¢ charity apportioned to charitable activities. Investments Unlisted equity investments are initially recorded at C05t, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are mcasurcd at cost less impairtnent. Listed investments are measured at fair value with changes in faiT value being recognised in income or expenditure. Financial instruments A financial asset or a fmancial liability is re¢ognised only when ihe entity becomes a party to the contractual provisions Df the instrument. Basic financial inslrurnents are initially recognised ai ihe amount receivable or paable including any related transaction costs, unless the arrangement Constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the ¢ash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Donations and legaeies Unrestrictcd Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Donations Donations 47,500 47,500 57,520 57,520 Donations rcceivcd includcs amount5 received from trustees and cntilies connccted io the trustees.
Docusign Envebpe ID.. 4A2E1C3548FF4AB7-BC1D-58B85D00210E The Isaac and Freda Frankel Memorial Charitable Trust Notes to the Financial Statements Iconiittued) Year ended 31 January 2023 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Income from listed inv*stments Other interest receivable 7,197 7,197 14,703 6,465 14,842 6,465 14,842 21,960 21,960 21,307 21,307 Expenditure on eharltable aetlvities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Granis paid Support costs 76,543 1,800 76,543 1,800 78,343 73,043 600 73,043 600 78,343 73,643 73,643 Expenditure on charitable aCtitieS by activity t)ye Activities undertaken directly Support Costs Total fund5 2023 Total fund 2022 Grants paid Governance costs 76,543 76,543 1,800 78J43 73,043 600 1,800 1,800 76,543 73.643 Analysis of grants 2023 Achisomoch Aid Company Limited North West Sephardish Synagogue Amud Hatzdokoh Trust Sundry grants (under £5,0(K)) 30,700 15,650 5,599 24,594 76,543 All the grants were made lo charitable institutions in the fields of education and the relief of poverty. Nel gains on investments Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Gainsl(losses) OTk listed invcsimcnis 5,863 5,863 28,283 28,283
Docusign Envebpe ID.. 4A2E1C3548FF4AB7-BC1D-58B85D00210E The Isaac and Freda Frankel Memorial Charitable Trust Notes to the Financial Statements Iconiittued) Year ended 31 January 2023 10. Independent examinAtion fees 2023 2022 Fees payable to the independent examiner for-. Indepcndcnt examination of the fittancial 5tatcmenls 1,800 600 11. Staff costs The avernge head Count of employees during the year was Nil (2022.. Nil). No employee received employee benefits of more than £60,000 during the year (2022= Nil). 12. Trustee remuneratlon and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 13. Investments Listed investments Valuation At l February 2022 Addition5 Disposals Fair value movements 191,880 (2,274) 5,863 195,469 At 31 January 2023 Carrying amount At 31 January 2023 At 31 January 2022 195,469 191,880 All investments show] above are held at valuation. Financial assets held gt fair value Lisied investments are measured at fair value based on the quoied mid-market values ai ihe year end. 14. Debtors 2023 2022 Prepayments and a¢¢ru¢d income Other debtors 928 16,599 25,036 231,477 256,513 17,527
Docusign Envebpe ID.. 4A2E1C3548FF4AB7-BC1D-58B85D00210E The Isaac and Freda Frankel Memorial Charitable Trust Notes to the Financial Statements Iconiittued) Year ended 31 January 2023 15. Creditors: Amounts falling due within one year 2023 2022 Accruals and deferred income 1,200 600 16. Analysis of charitable funds Unrestricted funds At Gains and 31 January losses At l February 2022 Income Expenditure 2023 General funds 453,651 69,460 (78,343) 5,863 450,631 At l February 2021 Gains and At 31 January losses Income Expenditure 2022 General funds 420,184 78,827 (73,643) 28,283 453,651 17. Analysis of net assets between funds Unrestricted Total Funds Funds 2023 Investments Current assets Creditors less than l year Net assets 195,469 256,362 (1,200} 450,631 195,469 256J62 {1,200) 450,631 Unrestricted Total Funds Funds 2022 Investments Current assets Creditors less than l year Net assets 191,880 262,371 {600) 453,651 191,880 262,371 (600) 453,651 io-