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Charity number: 1017429
LEWIS/GOLDBERG CHARITABLE TRUST
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
DocuSign Envelope ID: 4FC555CD-4BB2-43B3-BA38-C0DA4D6CA79F
LEWIS/GOLDBERG CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Trustees' responsibilities statement | 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 12 |
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LEWIS/GOLDBERG CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022
| Trustees | Ivor Lewis |
|---|---|
| Julian Anthony Lewis | |
| Rachel Esther Lewis (resigned 27 May 2021) | |
| Judith Ida Lewis (appointed 23 June 2021) | |
| Charity registered number 1017429 Principal office 69 Brim Hill London N2 0HA Accountants Landau Baker Limited Chartered Accountants Mountcliff House 154 Brent Street London NW4 2DR Bankers Santander UK PLC Bridle Road Bootle Merseyside L30 4GB Independent Examiner Jacob Lew, FCA |
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LEWIS/GOLDBERG CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their annual report together with the financial statements of the Charity for the 1 April 2021 to 31 March 2022. The trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).
Objectives and activities
a. Policies and objectives
The principal object of the charity is to relieve poverty and distress.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
The charity fulfills its objects by distribution of donations to other charitable organisations. In applying funds, the trustees are mindful of their responsibilities to act for the public benefit and give consideration to the guidance published by the Charity Commission on public benefit.
c. Grant-making policies
Every application for grants and donations is considered on its own merits and available resources and there are no restrictions other than to fulfil the purpose of the trust.
Achievements and performance
a. Review of activities and financial review
During the year donations were received of £12,012 (2021: £14,920) before claiming gift aid. During the year donations were made in furtherance of the charity's objects to 21 (2021: 30) different organisations totalling £66,900 (2020: £16,818).
b. Investment policy and performance
There are no restrictions on the charity's power to invest. The investment strategy is set by the trustees and takes into account demand for funds and the funding applications. The strategy is reviewed to ensure that the charity maximises its income within the bounds of prudence.
Financial review
a. Reserves policy
The trustees maintain sufficient cash reserves to meet ongoing commitments including donations. The current level of funds satisfies the objective. The amount of free reserves (Unrestricted funds excluding fixed asset investments) available at the year end are £40,141 (2021: £7,201).
Structure, governance and management
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LEWIS/GOLDBERG CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Structure, governance and management (continued)
a. Constitution
Lewis/Goldberg Charitable Trust was established on 14 January 1993 and registered as a charity on 18 February 1993.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Regular trustee meetings review requests for grants and donations, decisions are made for expending trust monies and to review the trust's investments and their performance.
c. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Approved by order of the members of the board of Trustees on 5 September 2022 and signed on their behalf by:
................................................
Julian Anthony Lewis Trustee
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LEWIS/GOLDBERG CHARITABLE TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 5 September 2022 and signed on its behalf by:
................................................ Julian Anthony Lewis Trustee
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LEWIS/GOLDBERG CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022
Independent examiner's report to the Trustees of Lewis/Goldberg Charitable Trust ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2022.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form 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 which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 5 September 2022 Jacob Lew FCA
Landau Baker Limited Chartered Accountants
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LEWIS/GOLDBERG CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Raising funds Charitable activities Total expenditure Net Income/(expenditure) before investment gains/(losses) Other recognised gains/(losses): Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 26,314 12,017 38,331 200 69,051 69,251 (30,920) (3,678) (34,598) 260,435 (34,598) 225,837 |
Total funds 2022 £ 26,314 12,017 38,331 200 69,051 69,251 (30,920) (3,678) (34,598) 260,435 (34,598) 225,837 |
Total funds 2021 £ 14,920 13,294 |
|---|---|---|---|
| 28,214 | |||
| 200 18,819 |
|||
| 19,019 | |||
| 9,195 30,369 |
|||
| 39,564 | |||
| 220,871 39,564 |
|||
| 260,435 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 12 form part of these financial statements.
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LEWIS/GOLDBERG CHARITABLE TRUST
BALANCE SHEET AS AT 31 MARCH 2022
| Note Fixed assets Investments 8 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
44,243 44,243 (4,102) |
2022 £ 185,696 185,696 40,141 225,837 225,837 225,837 - 225,837 225,837 |
9,181 9,181 (1,980) |
2021 £ 253,234 |
|---|---|---|---|---|
| 253,234 7,201 |
||||
| 260,435 | ||||
| 260,435 | ||||
| 260,435 | ||||
| - 260,435 |
||||
| 260,435 |
The financial statements were approved and authorised for issue by the Trustees on 05 September 2022 and signed on their behalf by:
................................................
Julian Anthony Lewis
Trustee
The notes on pages 8 to 12 form part of these financial statements.
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LEWIS/GOLDBERG CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. General information
Lewis/Goldberg Charitable Trust is a registered charity in England and Wales. The address of it's principal office is given in the charity information page 1 of these financial statements. The nature of the charity's operations is to relieve poverty and distress.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting 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) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Lewis/Goldberg Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
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.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Donations are recognised as income on receipt.
Donated investments are measured at fair value.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
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LEWIS/GOLDBERG CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Accounting policies (continued)
2.3 Expenditure (continued)
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.4 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
2.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.7 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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LEWIS/GOLDBERG CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Accounting policies (continued)
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Unrestricted funds 2022 £ Donations 12,012 Gift Aid Recovery 14,302 Total donations and legacies 26,314 Total 2021 14,920 |
Total funds 2022 £ 12,012 14,302 26,314 14,920 |
Total funds 2021 £ 14,920 - |
|---|---|---|
| 14,920 | ||
4. Investment income
| Unrestricted funds 2022 £ Dividends and interest on listed investments 11,821 Profit on disposal of investments 196 Bank Interest - 12,017 Total 2021 13,294 |
Total funds 2022 £ 11,821 196 - 12,017 13,294 |
Total funds 2021 £ 13,293 - 1 |
|---|---|---|
| 13,294 | ||
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LEWIS/GOLDBERG CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
5. Analysis of donations
| Donations to charitable organisations Total 2021 . Material Donations (>£1,000) UJIA MyIsrael Jewish Care Maccabi GB Laniado United Synagogue Forgotten People British Friends of YINN WIZO Total |
Donations 2022 £ 66,900 16,818 |
Total funds 2022 £ 66,900 16,818 2022 £ 7,500 31,000 12,500 - 5,000 1,290 - 7,000 1,000 65,290 |
Total funds 2021 £ 16,818 |
|---|---|---|---|
| 2021 £ - 5,000 5,000 1,000 - 1,264 1,000 - - |
|||
| 13,264 |
The charity did not undertake any activity directly but met its charitable purposes by making donations to charitable organisations.
All donations were made to institutions.
6. Support Costs
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Independent examiner's fee | 2,122 | 1,980 |
| Investment management fees | 200 | 200 |
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LEWIS/GOLDBERG CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
7. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 March 2022, no Trustee expenses have been incurred (2021 - £NIL) .
8. Fixed asset investments
| Cost or valuation At 1 April 2021 Additions Disposals Revaluations At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 Creditors: Amounts falling due within one year 2022 £ Accruals 4,102 |
Listed investments £ 253,234 12,200 (76,060) (3,678) 185,696 185,696 253,234 2021 £ 1,980 |
|---|---|
9. Creditors: Amounts falling due within one year
10. Related party transactions
During the year, total aggregate donations of £12,012 (2021: £14,032) were received from one trustee.
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