## Gainsborough Trust
Charity commission number 1008543
April 1, 2020 – March 31, 2021
Trustees Annual Report
This year has again been an busy year for The Gainsborough Trust.
Even with Covid-19 continuing to run rampant in the world, we have been able to continue our work and provide for many families, individuals, and organizations who have been effected in many ways by this terrible virus.
We aim to carry on with our work and hope we will continue to help the needy recipients who are always extremely grateful.
Susan Marks
Secretary Gainsborough Trust
# Gainsborough Trust **The Gainsborough Trust Report and Financial Statements Year ended: 31[st] March 2021 Charity no: 1008543**
## Gainsborough Trust **Contents of the Financial Statements For The Year Ended 31 March 2021**
||**Page**|
|---|---|
|Trustees Report|1 - 2|
|Statement of Financial Activities|3|
|Balance Sheet|4|
|Notes to the Financial Statements|5 - 8|
## Gainsborough Trust
## **Principal Office**
1 Hendon Hall Court, Parson Street, London NW4 1QY
## **Charity Number: 1008543**
## **Bankers**
National Westminster Bank, Golders Green Branch. 21 Golders Green Road London NW11 8EB.
## **Report of the trustees for the year ended 31st March 2021**
The trustees present their annual report and financial statements of the charity for the year ended 31[st] March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Trust Deed, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) issued on 16th July, 2014. The report takes account of the requirement for Trustees to report annually on public benefit and the Trustees have had regard to the Charity Commission's guidance on public benefit.
## **Structure, governance and management**
The Trust ("the Charity") is an unincorporated trust, constituted under a Trust Deed dated 12th March, 1991 as amended by a deed of amendment dated 27 May 2007 and is a registered charity, number 1008543. The Trust was established for the purpose of promoting the Orthodox Jewish religion and religious education generally and especially by providing financial assistance to religious institutions in Israel and to individuals and families in severe financial straits. The trust is managed by Neil Daniel Marks.
The Trustees who served during the year were as follows: -
Neil Daniel Marks, Chair of Trustees, Treasurer (appointed 1991) Susan Merle Marks, Secretary (appointed 1991)
## **Objectives and activities for the public benefit**
The objects of the Trust are the promotion of education of Orthodox Jewish religion and to ease the burden of impoverished individuals and families in Israel. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.
This year has shown to be a rewarding year for the Gainsborough Trust.
We continued collecting donations and distributing to many worthy causes and have been able to help various educational institutions, including special education, also destitute families and disadvantaged brides.
We aim to continue our work and hope to be able to include more organizations and individual cases.
**1**
Publlc benglit
Gainsborough Trusts. aims were carried out for the public b8nefiL This was achieved through
givin9 linancial support to religious inslitutions and lo vulnerable indiwduals and families.
Financlal review
The Trust's work is entirely reliant on income from donations.
Investmenl pollcy and perlomiance
The Trust does not have any investments sincg most of the Charity's funds are spent in the short
term.
ReseThes pollcy
Since the Trust does not have any regular expendilure relating to support and governance,
other than accountancy fees. the Trust has allocated ail donations wilhin unrestricted reserves.
Plans for the luture
The Gainsborough Trust is a lasting leslimony to the generosty and charitable concems of the
donors. We aim to increase our donor base to enable us to expand oui efforts on behalf of
educational institutions and impoverished individuals and families. Many of Ihese families
either have one ol the main breathvinner that are unable lo wotk due to poor health or other
members ol the household that need expensive and exlensive medical intervention.
Trustses. responsibilities in relatlon to the flnanclal slalemenl$
The trustees are responsible for preparing the Trustees. Report and the tinancial statements in
accordance wth applicable law and United King(lom Accounting Standards. The law applicable
lo charities in England and Wales requires Ihe tTUSteelsl to prepare financial statements for
each financial year which give a true and Ir view of the state of affairs ol the charity and of the
incoming resources and application of resources of the charity lor that period. In preparing these
financial statements, the trustees are required lo:
- select suitable accounting wlicies and then aPY them eonsistenty
- observe Ihe methods and principles of the Charities SORP
- make judgements and estimates that are reasonable and prudent".
stat8 whether applicable accounting standards have been lollowed. subject lo any
- departures disclosed and explained in the financial statements,. and-
- prepare the linancial statements on the going concem basis unless it is inappropriate to
presurne that the charity will continue in business.
The Trustees are responsible for keeping accounting records which disclose with reasonable
accuracy the financial position of Ihe charity and enable them to ensure that the financial
statements Gomply with the Charities Act 2011, the Chaty (Accounts and Reports)
Regulations 2008 and Ihe provision of the trust deed. They are also responsible loi safeguarding
the as5els of the charity and hence lor laking reasonable sleps lor the prevention and detection
of fraud and other irregularities.
Approved by the trustees on December 14, 2021
Nei/ Pdni6/ Marks
ND Marks
CHAIR OF TRUSTEES
## **Gainsborough Trust Statement of Financial Activities for the year ending 31 March 2021**
|**Note**
**Total Incoming resources**
_Incoming resources from_
_generated funds:_
Voluntary income:
Donations
**Total incoming resources**
**Resources expended**
_Charitable activities_
Donations
**11**
**Cost of grant making**
Governance costs
**3**
**Total resources expended**
**Net (outgoing)/ incoming**
**resources before transfers**
Transfers
Gross transfers between funds
**Net (outgoing)/ incoming**
**other recognised gains and losses**
Other recognised gains and losses:
**Net Movement in funds**
_Reconciliation of Funds_
Total Funds brought forward
**Total Funds brought carried forward**|**2021**
**2020**
**Unrestricted**
**Unrestricted**
**Funds**
**Funds**
**£**
**£**
111,586
174,104|
|---|---|
||**111,586**
**174,104**|
||120,873
172,861|
||**120,873**
**172,861**|
||780
960|
||**121,653**
**173,821**|
||**-10,067**
**283**
-173
-
-|
||-10,240
283
-
-|
||**-10,240**
**283**
11,230
10,947|
||**990**
**11,230**|
**3**
Gainsborough Trust
Statement ol Financial Position as at 31 March 2021
Nots
2021
2020
Current assets..
Cash at bank and in hand
1,770
12,010
Credltors falllng due wlihln one year
(7801
17801
Net assets
990
11,230
The funds of the charlty..
Restricted income funds
Unrestricted income lunds
Totsl charfty funds
990
990
11,230
11,230
The notes at pages 5 to 8 forn part of these accounts
Approved by the trustees on 14th December 2021 and stgned on their behalf by."
Neil i)ani¢/ Marks
Nell Danlel Marks
CHAIR OF TRUSTEES
**Gainsborough Trust Notes to the Financial Statements For The Year Ended 31 March 2021**
## **Notes to the accounts**
## **1. Accounting Policies**
## (a ) **Basis of preparation**
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in in theUK and the Republic of Ireland (FRS 102) issued on 16th July, 2014 and the Charities Act 2011.
The Trustees have chosen to early adopt the Update Bulletin 1 issued by the Charities Commission on 2nd February, 2016 which exempts the charity from the need to prepare a Statement of Cash Flows.
The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going
## (b) **Income recognition**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations are recognised once received.
## (c) **Expenditure recognition**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including governance costs are allocated or apportioned to the applicable expenditure headings
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Charity.
**5**
## **Gainsborough Trust Notes to the Financial Statements - ctd For The Year Ended 31 March 2021**
## (d) **Financial Instruments**
The Charity has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
## _**Short term creditors**_
Creditors with no stated interest rate and payable within one year are recorded at transaction price.
## _**Cash and cash equivalents**_
Cash and cash equivalents comprise cash at bank.
## (e) **Governance costs**
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to accountancy fees.
## (f ) **Funds structure**
The Charity has a single permanent fund which is wholly unrestricted.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed.
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.
## (g ) **Realised gains and losses**
All gains and losses are taken to the Statement of Financial Activities as they arise.
## **2. Related party transactions and trustees' remuneration**
The Trustees received no emoluments or reimbursement of expenses (2020 – nil). In the opinion of the Trustees there were no related party transactions requiring disclosure in the accounts.
The Charity has no ultimate controlling party.
**6**
## **Gainsborough Trust Notes to the Financial Statements - ctd For The Year Ended 31 March 2021**
|**3. Analysis of governance costs**|**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Accountancy fees|780|780|
|Bank charges|||
## **4. Accountancy fees**
The accountancy fees constituted a fee of £780 (2020 - £780).
|**5. Cash at bank**
National Westminster Bank Plc - Current Account
**6. Creditors: Amounts falling due within one year**
Accruals|**2021**
**2020**
**£**
**£**
1,770
12,010|
|---|---|
||**2021**
**2020**
**£**
**£**
780
780|
## **7. Financial Instruments**
At the year end the Charity had no liabilities that were classified as financial instruments.
## **8. Grant commitments**
The Charity had no commitments at the balance sheet date to pay grants awarded.
## **9. Contingencies**
There were no contingencies at the balance sheet date.
## **10. Guarantees**
The Charity has given no guarantees or other indemnities.
**7**
## **Gainsborough Trust Notes to the Financial Statements - ctd For The Year Ended 31 March 2021**
## **11. Analysis of donations**
|Recipients of donations
Higher education
Basic education of Jewish principles
Destitute families
Religious Center for Prayer and Learning
Assistance for poor brides|**Donations to**
**Donations to**
**institutions**
**individuals**
**£**
**£**
51,490
13,728
40,394
1,745
13,516|
|---|---|
||**66,963**
**53,910**|
## **Total**
**8**
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's
report on the accounts
Secllon A
Independent Examiner's Report
Reporl to the trusteesl
members of
GAINSBOROUGH TRUST
On accounts lor the year
ended
31 St MARCH 2021
Charlty no
{if any)
1008543
Set out on pages
I report to the trustees on my examination of the accounts ol the abovo
charity I'the Trust") lor the year ended 31103 12021.
Responslbllltles and As the charity Iruslees ol the Trust, you are responsible for the preparation
basls of report of the accounts in accordance with the requirements ol the Charities Act
2011 {"Ihe Acl"}.
I report in respect ol my examination of the Trust's accounts carried out
under section 145 01 the 2011 Act and Sn carrying out my examination, I
have followed the applicable Directions given by the Charity Commisslon
under section 14515llbl ol the Act.
I have completed my examination. I confirm that no material mallers have
come lo my attention lo#W4k1a¥e1oW '} in conne¢llon with
the 8xamination which gives me cause lo believe that in, any material
respect..
accounllng records were not kept in accordance with section 130 of
the Act or
the accounts do not accord with the accounting records
Independent
examlner's statement
I have no concerns and have corne across no other matters in connection
with the examination lo which allenlion should be drawn in order lo enable a
proper understanding ol the accounts lo be reached.
Please delat
e words in the brackets if they do not apply.
Slgnod:
Date:
1411212021
Name:
Relevant professlon81
quallfleatlonls) or body
{11 any):
Inslitute of Chartered Accountants in England and
Wales
Address:
CORAL SUITE
120 COCKFOSTERS ROAD
BARNET EN4 ODZ
IER
October 2018
Section B
Disclosure
Only cornplele if the examiner needs to highlight matters ol concern (see CC32,
Independent examination ol charity accounts: directions and guidance lor
examiners}.
Glve her8 brief delalls of
any Items that the
examlner wlshes lo
disclose.
October 2018
IER