The Good Deed Foundation Report and Finanual Statements Year Ended 31 December 2022 Registered Charity Numbèr 1041053
The Good Deed Foundation Report and financial statements for the year ended 31 December 2022 Contents Page: Report of Ihe tnjslees Independenl Examiners Rerx)rt Statement of financial aclmties Balance sheet Notes foming part of the financial statements Trustses Weiss A Mccormack N Bradley Reglstered address 1 Manchester Square. London, W1 U 3AB. Registered charity Dumber 1041053 Independent examiner Stuart McKay Bsc FCA DChA MHA. 2 London Wall Place. London. EC2Y SAU. Bankers Bardays Bank plc. One Churchill Plac£. London. E14 5HP
The Good Deed Foundation Report of the Trustees for thè year ended 31 December 2022 The TnJst89s present their report arKI the financial slalements for The Good Deed Foundation for the year endèd 31 December 2Q22. These accounis comply wlh the Charity's tnjst deed, the Charities Act 2011 and the 'A¢¢ounling and RepK)rting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021" Structure governance and managemenl The Good Deed F(xJndation was established on 16 September 1994 by Trust Deed. and is registered with the Charity Commission under registered number 1041053. Trustee appointment The Trustees are appointed at the discrelion of the existing trustees. On appoinlrnenl. the decision making procèss of the Foundalk)n is explained lo new Trustees by one ol Ihe existing Trustees vtho also promdes an overview of the administrative procedures employed by the Foundation. The Foundation is not a complex organisatll and there is a simple management structure. Trustees The Trustees of the Chaiity during the year and lo the e of this report, were.. M Weiss A Mccormack N Bradley Objectives and activitios for the wiblic benefit The Charity was èstablishèd under Deed lo apply the Charity's income and c2Pital for the advanrnent of such charitable purpose as the Trustees shall, in their absolute discretion from time to timè. think fit. Grant making policy The recipients of donations by the FoLtndation are agreed by the Trustees who. in their deliberalions, Consider the use to which Ihe re¢ipients propose lo pul their respectwe donations. Each grant is considered on ils own merit. Applications for funds are considered indiwdually by the Trustees and specific crileria are required to be met before an applicatwjn may be put forward to the Trustees. Achi8vam•nts. p•rforn?ancÈ and plans for futu peri4)ds for the public benefit The Trustees confimi that they have referred lo the guKJance ctsine in the Charity Commission's general guidance on public ben8frt when reviewing the FoundatK)n's aims and objectives and in planning current and future activities. All activities have been undertaken for the furtherance of public ben9fft ar for the furtherance of the Charity's purpose as per its Trust Deed. During the year the Trustees made granis lolalling £116,015 10 8 number of charitable organisalions12021.' £01. Further details of these are incJuded in note 6 to the finarbcial slatements. Grants have been made to varicmjs charitable organisations in the areas of povety rdief, religious adVanMent, education and health. AJI of these grants were unrestricted. The Trustees intend to continue to Pursue the initialives of the Foundation as laid out in the objectives and activit$ section of this report as and when funds are available.
The Good Deed Foundation Report of the Trustee$ for the year ended 31 Dècember 2022 (¢ontinued) Flnan¢lal rovlow Al year end the Foundation held funds of £5,946 (2021.. £641. Reserves at the of the period are adequate for the ongoing objectives of the Foundation after taking into Consideration future incoming cash flows and are held for the purpose of future grants. Res¢rve5 policy As the Charity operates on minimal overheads, the level of reserves rw4uired to be maintained is negligible. The reseNes held are predominantly for future grant CMMItmer. Rlsk management The Trustees are of the opinion that the Chartty faces minimal risks. 11 has SUffent funds. with no ¢ommitments made against them. The Trustees wll ¢x)nlinue lo assess any new risks faung the Charity as part of their on-going duties. Fundraising statement Section 162a of the CharilTes AGt 2011 requires charities to make a statement regarding fundraising activities. though we do not undertake widespread fundraising from the general PLJblic, the legislation defines fund raising as "soliciting or otherwise procuring money or other propety for charitable purposes.. &Jch amounts re1Vable are presented in our accounts as "voluntary income" and indudés lega¢i8s and grants. In relation to the above, we confim that all solicitations are managèd intém3lly. wthoul involvement of commercial partirypators or professional fund-raisers, or third patties_ The day-t¢Trday management of all income generation is delegated lo the executive team. who 8re 8c¥x)unlable lo the Trustees. The Charity is not bound by any undertaking or by any regulaiory sdme and the Charity does not consider it necessary to comply wth any voluntary code of practSfA. We have received no wmplainls in relation lo fundraising activities. As we do not approach individuals for funds. we do not consider the Charity lo undertake public fundraising acts"vities. nor do we consider it necessary to design specific procedures lo monitor such activities. Charities Governance Code The Go<xI Deed Foundation recognises that governa in a ¢harity is fundarnenlal lo its success. Ge Deed and ils Trustees are continually working towards achieving Ihe hbghesi StarardS ofg0vernan, by referen to the principles and recommended pract of the Chanty govemance cc*Je.
The Good Deed Foundation Report of the Trnsté•$ for the year ended 31 DeceMr 2022 (¢ontinued) TN$tees' responsibilities The Trustees are responsible fcK preparing the Amnual tK)rt and the financjal statements in accordan with applicable law and regulations. Charily law requires the Trustees to prepare financial statements for each financial year in accordanc£ with United Kingdom Generally Accepted Accounting Practice {Uniled Kingdom Accounting Standards and applicable lawl. Under charity law the Tnjstees must not approve Ihe financial statements unless they are satisfied that Ihey give a true and fair view of the stste of affairs of thè ¢harrty and of the incoming SoUrceS and application of resources, including the income and expenditure, of the challty for that period. In preparing these finanryal statements. the Truslees are requir&J to- soled suitable accounting policies and then apply them consislenlty: make judgements and accounting esbmates that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject lo any material departures dlsclosed and explained in the finanaal statements- and prepare the financial statements on the going conc*m basi8 unless it is inappropriate to presume that the charity will continue in business. The Trustee5 are responsible for keewng proper accounling records that are sufficient to show and explain the charity's transactions and disdose with reasonable accuracy al any time ihe financial position of the charty and enable them to ensure that the financial statements comply with the Charities Act 2011. They 8re also respOnsie for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees and signed on their behalf by N Bradley Trustee Date..
The Good Deed Foundation Report of the Trustees for the year ended 31 December 2022 (contlnued) Independent Examlnerfs Report to the Trustees of The Good Deed Foundation I report to the Trustees on my examinalK)n of the accounts of The Good Deed Foundation for Ihe year ended 31 December 2022 which are sel out on pages 5 lo 11. Responslbllltles and basls of report As the charity's trustees you are responsible for the preparation of Ihe accounts in accordance wi(h the requiremenls of the Charities Act 2011 1.the Act,). I report in r6spe¢t of my examinatton of the chariV5 ac£ounts carried out under section 145 of the Act and in carrying out my examination I have folk)wed all the applicable Directions given by the Charity Commission under section 1451511bl of the Act. Independént ¢xaminerfs Statement I have completed my examination. I confimi thal no material matters have come lo my attention in connection wrylh the examination giving me cause lo believe that in any material respect.. accounting COrdS were not kept in respect of the charity as required by section 130 of the ACL or the a¢¢ounts do not accord with those rdS1.. or the acoounls do not comply with the applicable requirements conceming the forni and content of accounts sat out in the Charit'es {Accounts and Reports) Regulations 2008 other than any requirement that the ac¢ounts give a Xrue and fair wew. which is not a matter considered as part of an independent examinalionl I have no concerns and have Come across no other matters in )nnectiOn the examination to thich attentio should be drawn in this report in order to enable a proper understanding of the accounts lo be Teached. Stuart McKay Bsc FCA DChA For and on behalf of MHA Chartered Accountants London, United Kingdom Dale.. 2511012023
The Good Deed Foundation Statement of Financial Actlvities for the year endèd 31 December 2022 Note Unrestricted funds Unrestricted funds 2022 2021 Incomo Donalions 124,936 2,460 Total Income 124.936 2,460 Expenditure Charitable activities 1119,0541 1751 Total exponditura {119.0541 175 Net IncomellexpendituTe} 5,882 2,385 Balance brought forward 12,3211 Balancè ¢arrled forward 5,946 The Charity made no recognised gains losses in the year other than the movement in nel funds set out abov8. l income and expenses derive from continuing operats"ons. I funds a¥e unreslricled funds. The notes on pages 7 10 11 form part of these financAal statements.
The Good Deed Foundation Balance sheet As at 31 December 2022 Note 2022 2021 Current assets Cash at bank and in hand 8.546 64 8,546 64 Current liabilities Credilors falling tjue wthin one yea {2,6001 Net assets 5,946 Unrestrl¢ted funds General fund The financial slalements were approved by the Tfustees and authoris8d fow issue on 231io12n' Signed on behalf of the Trustees N Bradley Trustee Date.. The notes on pages 7 10 11 fomi part of Ihese financtal slalements.
The Good Deed Foundation Notas fonnlng part of the finan¢lal statements for the year ended 31 December 2022 Accounting policles The accovnts lfinancial statements} have beèn wyred in aC(X)rdan vthh the Statement of Recommended Practi. Accounting and Rewrting by Charits"es preparing their auntS in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 Juty 2014 and the Financial Reporting Standard applicable in the United Kingdom an¢J Republic of Ireland IFRS 102) and the Charib'es Act 2011 and UK Generally Apted Practice as li 8pk4ies from l January 2015. The accounts (financial statements) have been prepared to gNe a 'true and fair, wew and have departed from the CharitEs IAc¢ounts and Reports) Regulations 2008 onty to the extent required to provTrde a Irue and fair view,. This departure has involved following Accounting and Reporting by Charities preparing their acuunts in acLordanGe wth the Financial Reporting Standard appltcable in the UK and Republic of Ireland {FRS 102) issued on 16 July 2014 rather than the Aco)unting and Reporting by Charibes.. Statement of Recommended Practice effective from 1 April 2005 which has sirKe been wthdrawn. The Foundation constitutes a public benefil enlity as defined by FRS 102. The financial st31emenls are prepared in £ sleding. the functional currency. rourHJed to the nearest £1. The Financial Statements are prepared on the going concem basis which assumes that The Good Deed Foundation will continue in operational exislence for the foreseeable future. The Board of Trustee5 have consklered the wort(ing capital and cash flow requirements and considèr that the Guent and forecast cash resources are sufficient to cover the workirKJ capital reouiremenls of the Charity foT at least 12 months from th8 signing date of these financial slalements. There are no signlficant areas of judgement nor key a¢rUting estimates that affect items in the financial slalemenls. Accounting cOnVentn The accounts have been prepared under the historical cost convention. Fund accounting Funds held by the Charity are unreslricted funds. Incomg All income is recognised once the Charity has entiilement to the inccffie, rt is probable that the income wll be re1Ve and the amount of income receivable ran be measured reliably. Donalions and the related gift aid lax are 8CC£)Ltnled for on receipt. Investment income is accounted for on a rw£rvable basis. Expenditure All expenditure is accounted for gross, on an accruals basis. Expenditure is recoJnised once the is a legal or constructive obligation to transfer economic benefft to a third paty, it is probable that a transfer of economic benefits will be required in seluemenl and the amounl of the obligation Can be MeasUd reliably Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Foundation. The grants are accounted for where either the Trustees have agreed to pay the grant without condition and the recipient has a reasonable expectatk)n that they will receive a grant. or any condition attaching to the grant is outside the control of the Foundation. Foffjign curroncy Foreign currency transactions of the Foundation are translated at the rates ruling when they occurred. Foreign currency monetary assets and liabiltties are translated al the rates mling at the balan¢e sheet dates. Any drfferences are taken to the profil and loss a¢cVnt.
The Good Deed Foundation Notes fom7ing part of the financial statements for the year ended 31 December 2022 (continued) Ac¢ountlng policies (continued) Cash flow statement The accounts do not indude a cash flow statement because the Charity, as a small reporting enlty, is exempl from the requirement to prepare a cash flow statement under the Accounting and Reporbng by Charities.. Statement of Recommended Practice applicable to ¢harilies preparing their accLyJnts in accordance with the UK Generally Accepted Accounting Practices (UK GAAPI. Allocat ofoverhead and support costs Overhead and support costs have been allated enlirely lo chariiable activities. These costs have been attributed lo the type of charitable activity on a prrat3 activty cost by total ¢o$l basis. Governance costs are considered akin lo support ¢osts and have been all(ted on the same basis. Réalised gains and losses All gains and losses are laken to the statement of ffinanual actNI1 as they arise. Financi81 in8tnJments The Charity only holds basic Finanual Instnjments. The finanoal assets and finanual liabilities of the Charity are as follows". Debtors- trade and other debtors {including acLrued income) are basic financial insttuments and are debt Instruments measured at 3rn0rtiseLI cost. Financial liabilities- trade creditors, accnjals and other creditors a financial in51ruments, and are measured at amortised cosl. Deferred income is nol deemed to be a financial liability, 8$ the cash serfement has already tsken 8¢8 and there is an obligation lo deltvei setvices rather than cash or another financial inslrumenl. Accounting estimates and judgements In the appIltiOn of the Charity's accountirtg policies, the Tfustees are required to make Judgements, estimates and assumplions about the carrying amounts of assets and liabilities that are not readily apparent from othei sources. The eslimates and associated assumptions are based on historical experience and other factors that are consi¢Jered to be relevant. Actual results may dtffer from these estimates. The estimates and underfying assumptions are reviewed on an ofigoing basis. Rewsions to accounting estimates are recognised in the pericml in vthich the estimate is revised if the revision affects only that period or in the period of the revision and future periods rf the revision affects tK>ih ¢urYenl and future periods. The Tru51ees do not consider therè are any ciitiG31 jLklgèrnents or sources of estimatKJn uncertainty roquiring disclosure beyond the accounb.ng policies listed al)ove. Rolated party transactlons The followng related paity transactions arose during the year: The Foundation made grants totalling £80,000 {2021.' £Nill to The Keren Mitzvah Twst, a charity administrated from the same address and with comtTh)n Iruslees. Aggregate don81ions income received wtthout condttions atta¢hed from Trustees and their related parties during the year was £124,93612021: £Nill. Trnstges, r•mun&ratlon The Trustees are cons5dered to be the Key Management Personnel of the charity. The Trustees received no remuneration in respe¢l of their se$ lo the Chartty12021= £Nill and were not reimbursed any expenses {2021.. £Nill.
The Good Deed Foundation Notes forniing part of the financlal statÈments for the year endèd 31 December 2022 (continued) Voluntary income 2022 2021 Donations 124.936 2.460 Ail donations received in the cuent and prior year were Unrestricted. Analysis of charitsble expenditure The Foundation undertook no direcl charitsble activities bul 8W8rded grants in fvrtherance of ils charitsble activities. Details of thè grants awarded Can be found in note 6. Grants Mado Support Costs 2022 Direct charltable exp¢ndlture= Religious advancement Health Other 34.515 1,000 80,500 904 26 2,109 35.419 1.026 82.609 116.015 3.039 119,054 Granis Made Support Costs 2021 Dlrsct charitablè •Xndituro. Religious advancement Education Other 75 75 75 75 2022 2021 Support Costs: General Expenses Exchange rate Variance Governance costs- Independent examinerfs fee 15 60 439 2.600 3.039 75 All expenditure incurred in th8 current and prior year was from unrestricted funds. The Foundation has no eErJployees12021= norte)-
The Good Deed Foundation Notes fomiing part of the financial statements for the year ended 31 December 2022 {continu8dJ Charitable grants All grants made during the year were lo institutions. The following ch8rtt8ble grants have been made.. 2022 2021 R¢li lous advan¢ement Achlsomoch Mèrkos Llnyonel Chinu¢h Chicago Centre for Torah and Chosed 25,578 6,004 2,933 34.515 Health Hummingbird Can¢er 1.000 1,000 Other eneral charitablo rants Koran M5tzvah Trust The 999 Club 80.000 500 80,SOO Totsl ¢harit¥ble rants 116.015 10
The Good Deed Foundation Notes fom)ing part of the financial statements for the year ended 31 December 2022 {continuedJ Creditors falllng due wlthln one year 2022 2021 Accruals 2,600 2.600