Charity number: 1017429
LEWIS/GOLDBERG CHARITABLE TRUST
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 14 |
LEWIS/GOLDBERG CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023
| Trustees | Ivor Lewis |
|---|---|
| Julian Anthony Lewis | |
| Judith Ida Lewis (appointed 23 June 2021) | |
| Charity registered number 1017429 Principal office 69 Brim Hill London N2 0HA Accountants BKL Audit LLP Chartered Accountants 35 Ballards Lane London N3 1XW Bankers Santander UK PLC Bridle Road Bootle Merseyside L30 4GB Independent Examiner Jacob Lew, FCA |
Page 1
LEWIS/GOLDBERG CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report together with the financial statements of the Charity for the 1 April 2022 to 31 March 2023. 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 (2022: £12,012) before claiming gift aid. During the year donations were made in furtherance of the charity's objects to 18 (2022: 21) different organisations totalling £45,580 (2022: £66,850).
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 £29,802 (2022: £40,141).
Structure, governance and management
Page 2
LEWIS/GOLDBERG CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
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 24 August 2023 and signed on their behalf by:
Julian Lewis
................................................
Julian Lewis Trustee
Page 3
LEWIS/GOLDBERG CHARITABLE TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023
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:
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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 24 August 2023 and signed on its behalf by:
Julian Lewis
................................................ Julian Lewis Trustee
Page 4
LEWIS/GOLDBERG CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023
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 2023.
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.
Jake Lew Signed: Dated: 24 August 2023 Jake Lew FCA BKL Audit LLP Chartered Accountants
Page 5
LEWIS/GOLDBERG CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
London
Page 6
LEWIS/GOLDBERG CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 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 2023 £ 17,526 10,401 27,927 338 47,929 48,267 (20,340) (16,539) (36,879) 225,837 (36,879) 188,958 |
Total funds 2023 £ 17,526 10,401 27,927 338 47,929 48,267 (20,340) (16,539) (36,879) 225,837 (36,879) 188,958 |
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 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 14 form part of these financial statements.
Page 7
LEWIS/GOLDBERG CHARITABLE TRUST
BALANCE SHEET AS AT 31 MARCH 2023
| 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 |
32,052 32,052 (2,250) |
2023 £ 159,156 159,156 29,802 188,958 188,958 188,958 - 188,958 188,958 |
44,243 44,243 (4,102) |
2022 £ 185,696 |
|---|---|---|---|---|
| 185,696 40,141 |
||||
| 225,837 | ||||
| 225,837 | ||||
| 225,837 | ||||
| - 225,837 |
||||
| 225,837 |
The financial statements were approved and authorised for issue by the Trustees on 24 August 2023 and signed on their behalf by:
Julian Lewis
................................................
Julian Lewis
Trustee
The notes on pages 9 to 14 form part of these financial statements.
Page 8
LEWIS/GOLDBERG CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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.
Page 9
LEWIS/GOLDBERG CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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.
Page 10
LEWIS/GOLDBERG CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 2023 £ Donations 12,012 Gift Aid Recovery 5,514 Total donations and legacies 17,526 Total 2022 26,314 |
Total funds 2023 £ 12,012 5,514 17,526 26,314 |
Total funds 2022 £ 12,012 14,302 |
|---|---|---|
| 26,314 | ||
4. Investment income
| Unrestricted funds 2023 £ Dividends and interest on listed investments 10,401 Profit on disposal of investments - 10,401 Total 2022 12,017 |
Total funds 2023 £ 10,401 - 10,401 12,017 |
Total funds 2022 £ 11,821 196 |
|---|---|---|
| 12,017 | ||
Page 11
LEWIS/GOLDBERG CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
5. Analysis of donations
| Donations to charitable organisations Total 2022 Material donations of over £1,000 UJIA MyIsrael Jewish Care World Jewish Relief Finchley Jewish Primary School Trust Laniado United Synagogue Gesher School British Friends of YINN WIZO Total |
Donations 2023 £ 45,580 66,900 |
Total funds 2023 £ 45,580 66,900 2023 £ - 8,500 10,000 3,000 4,500 17,000 - 1,000 - - 44,000 |
Total funds 2022 £ 66,850 |
|---|---|---|---|
| 2022 £ 7,500 31,000 12,500 - - 5,000 1,290 - 7,000 1,000 |
|||
| 65,290 |
. Material donations of over £1,000
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.
Page 12
LEWIS/GOLDBERG CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Support Costs
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Bank charges | 19 | 29 | |
| Independent Examination fee | 2,349 | 2,151 | |
| Investment Management fees | 338 | 200 | |
| 7. | Trustees' remuneration and expenses | ||
| During the year, no Trustees received any remuneration or other benefits_(2022 - £NIL)_. | |||
| During the year ended 31 March 2023, no Trustee expenses have been incurred_(2022 - £NIL)_. | |||
| 8. | Fixed asset investments | ||
| Listed | |||
| investments | |||
| £ | |||
| Cost or valuation | |||
| At 1 April 2022 | 185,696 | ||
| Disposals | (10,050) | ||
| Revaluations | (16,490) | ||
| At 31 March 2023 | 159,156 | ||
| Net book value | |||
| At 31 March 2023 | 159,156 | ||
| At 31 March 2022 | 185,696 | ||
| 9. | Creditors: Amounts falling due within | one year | |
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals | 2,250 | 4,102 |
Page 13
LEWIS/GOLDBERG CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
10. Related party transactions
During the year, total aggregate donations of £12,012 (2022: £12,012) were received from one trustee.
Page 14
Lewis/Goldberg Charitable Trust
69 Brim Hill, London, N2 0HA
Date: 24 August 2023
Your ref: LEW002
Berg Kaprow Lewis LLP 35 Ballards Lane London N3 1XW
Dear Sirs
Lewis/Goldberg Charitable Trust
We confirm to the best of our knowledge and belief, and having made appropriate enquiries of other trustees and officials of the Charity, the following representations in connection with your report on the Charity's financial statements for the year ended 31 March 2023.
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We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with Auditing Standards and that you do not express an audit opinion.
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We confirm that the Charity was entitled to exemption from the requirement to have its financial statements for the financial year audited.
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We have fulfilled as trustees our responsibility for the financial statements which give a true and fair view in accordance with the requirements of the Charities Act 2011 and which otherwise comply with the requirements of that Act relating to financial statements, so far as applicable to the Charity. All the accounting records have been made available to you and all transactions undertaken by the Charity have been properly reflected in those accounting records. All records and related information, including the minutes of the trustees’ and members’ meetings have been made available to you.
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We confirm that we have maintained proper accounting records, as required by the Charities Act 2011.
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We confirm, to the best of our knowledge and belief, that there have been no instances of non-compliance or breaches of any laws or regulations which are essential to the activities of the Charity’s activities.
Registered charity no. 1017429
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We confirm that assets are included on the balance sheet at no more than their recoverable amounts and that liabilities are included at their expected cost to the Charity.
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We confirm that we are not aware of any pending litigation which may result in a significant loss to the Charity.
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We confirm that there were no contingent liabilities at the balance sheet date.
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We believe that the Charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding and support will be more than adequate for the Charity's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the Charity's ability to continue as a going concern need to be made in the financial statements.
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We confirm that there were no transactions with related parties of the Charity or amounts due to or from related parties at the balance sheet date which are required to be disclosed in the financial statements other than those which are detailed in the notes to the financial statements.
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We confirm that there have been no events since the balance sheet date which necessitate revision of the figures included in the financial statements or disclosure in the notes to the financial statements. Should further material events occur, which may necessitate revision of the figures included in the financial statements or inclusion of a note thereto, we will advise you accordingly.
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All grants, donations and other monies, the receipt of which is subject to specific terms or conditions, have been properly recorded in the financial statements as restricted funds.
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We confirm that all grants paid out during the year were to entities with no connections to any of the Trustees.
Yours faithfully
Julian Lewis
Signed on behalf of the Board of Trustees Lewis/Goldberg Charitable Trust
PAGE 2 OF 2
Lewis/Goldberg 2023 Accounts Pack
Final Audit Report
2023-09-07
Created: 2023-09-07 By: Jake Lew (Jake.Lew@bkl.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAdBAmmHCHFH_tAgWuuLW5ADyD2rLaAUuS
"Lewis/Goldberg 2023 Accounts Pack" History
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