THE ROSALYN & NICHOLAS SPRINGER CHARITABLE TRUST TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
CHARITY NUMBER 1062239
Hentons Chartered Accountants Ground Floor 31 Kentish Town Road London NWl 8NL
THE ROSALYN & NICHOLAS SPRINGER CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
CONTENTS
| Page | |
|---|---|
| Trstees' Repo1t | 1to3 |
| Independent Examiner's Repo1t | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7to9 |
Page 1
THE ROSALYN & NICHOLAS SPRINGER CHARITABLE TRUST
TRUSTEES REPORT FOR THE YEAR ENDED 5 APRIL 2023
REFERENCE AND ADMINISTRATIVE INFORMATION
| Trustees | - | N Springer |
|---|---|---|
| - | R Springer | |
| Governing Document and Constitution |
- | Trst Deed dated 17 April 1997, as an unincororated |
| association in England. | ||
| Charity Registration | ||
| Number | - | 1062239 |
| Charity Ofce | - | 274A Kentish Town Road |
| London | ||
| NW52AA | ||
| Bankers | Barclays Bank plc | |
| Accountants | - | Hentons |
| Chartered Accountants | ||
| Ground Floor, | ||
| 31 Kentish Town Road | ||
| London NWl 8NL |
Page2
THE ROSALYN & NICHOLAS SPRINGER CHARITABLE TRUST
TRUSTEES' REPORT (continued)
The tmstees present their report and financial statements for the year ended 5 April 2023. The financial statements have been prepared in accordance with the accounting policies set out on pages 7 and 8 and comply with the charity's oust deed and applicable law.
Structure, Governance and Management
The tlustees named on page l served throughout the year. Appointment of tmstees is governed by the Tmst Deed of the charity. The trnstees are responsible for the day to day administration of the charity and hold periodic tlustees' meetings.
The Board of Tmstees is authorised to appoint new uustees to fill vacancies arising through resignation or death of an existing tlustee. The Board ofTmstees ensures that the skill requirements oftlustees are kept under review. New hustees, if required, are sought by recommendation from existing tlustees, and the required u·aining is given by the existing tlustees.
Objectives and Activities for public benefit
The Charitable Tmst is constituted by Tmst Deed and its public benefit objectives and aims, and grant-making policy, are to apply the Tmst Fund and Income thereof for assistance to those in need, for the advancement of education, religion or for other purposes beneficial to the community.
Grant - Malting Policy
The tiustees meet from time to time to consider making charitable grants to institutions and to review any applications for grants that have been received.
In furtherance of its public objectives, during the year the charity made institutional grants of £52,351, details of which are shown in note 3 of the Notes to the Financial Statements. The policy of the charity is to continue to apply the Tmst Fund and Income thereof for the charitable purposes as specified in the Tmst Deed, for public benefit.
Achievements and Performance
The tlustees consider that the perfmmance of the charity this year has been satisfact my. During the year the charity made 59 institutional grants for the aforementioned general charitable purposes in support of the public benefit activities of those institutions.
Other than the Board of Tmstees, the charity is not dependent upon the services of unpaid volunteers, donations in-kind or other intangible income.
Financial Review
The principal source of income is donations received.
Details of expenditure on charitable activities are shown in the Statement of Financial Activities on page 5 of the Financial Statements. Expenditure incun-ed during the year related to Charitable Grants, and Support Costs (Governance Costs) necessa1y in relation to the charity's activities.
Page3
THE ROSALYN & NICHOLAS SPRINGER CHARITABLE TRUST
TRUSTEES' REPORT (continued)
Reserves Policy
The trustees have examined the requirement for free reserves which are those unrestricted funds not designated for a specific use. It is the policy of the charity to maintain free reserves at a level considered adequate to provide sufficient funds for on average approximately three to six months' unrestricted expenditure to cover governance costs and to respond to emergency applications for grants which may arise from time to time; the free rese1ves amounted to £19,439 at 5 April 2023.
Future Plans
The charity intends to continue making institutional grants for the aforementioned charitable purposes, as specified in the Trust Deed, for public benefit.
Risk Management
The trustees have reviewed the affairs of the charity and do not consider that there are any major, strategic, business and operational risks which the charity faces.
Going Concem
There are no uncertainties about the cbadty's ability to continue as a going concern as indicated in note 9 of the Notes to the Financial Statements.
Statement of trustees' responsibilities
The tmstees are responsible under the law applicable to charities in England and Wales and United Kingdom Accounting Standards including Financial Reporting Standard I 02 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice) for preparing a Trnstees' Annual Report and financial statements for each financial year which give a true and fair view of the charity's income and expenditure during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
a) select suitable accounting policies, as described in note I of the Notes to the Financial Statements, and apply them consistently; b) obse1ve the methods and principles in the Charities SORP;
c) make judgements and estimates that are reasonable and pmdent;
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d) state whether applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and statements ofrecommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
-
e) prepare the financial statements on a going concern basis, unless it is inappropriate to presume that the charity will continue in operation, and on the accmals concept.
The tmstees are responsible for keeping accmmting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the fmancial statements comply with the Cha1ities Act 2011; the Charity (Accounts and Reports) Regulations 2008 and the provisions oftbe Tmst Deed. The Trnstees 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.
Amounts are presented within items in the Statement of Financial Activities and Balance Sheet in accordance with generally accepted accounting principles or practice, the tmstees having bad regard to the substance of the reported transaction or anangement.
The trustees have complied with the duty in Section 4 of the Charities Act 201 I to have due regard to guidance issued by the Charity Commissioners, including public benefit objectives. The activities unde1taken for public benefit are as hereinbefore described.
Approved
This report was approved by the tmstees on )6[� ] ��nd signed on their behalf by: .......... �;:Fr.. .......... . fl. c��
N Sp1inger (Trustee)
Page4
THE ROSALYN & NICHOLAS SPRINGER CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROSALYN & NICHOLAS SPRINGER CHARITABLE TRUST
I repo1t on the financial statements of the Charity for the year ended 5 April 2023, set out on pages 5 to 9.
Respective responsibilities of trustees and independent examiner
As described on page 3, the charity's trustees are responsible for the preparation of the Trnstees' Annual Rep01t and fnancial[i] statements. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The Charity has prepared "accruals basis" financial statements. I am qualified to unde11ake the independent examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. It is my responsibility to:-
-
examine the financial statements (under Section 145 of the 2011 Act);
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to follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section l 45(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was ca1Tied out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a "trne and fair" view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect:-
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the accounting records were not kept in accordance with section 130 of the 2011 Act; or
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the financial statements did not accord with the accounting records; or
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the financial statements did not comply with the applicable requirements concerning the fotm in content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a "trne and fair view" which is not considered pa1t of an independent examination.
I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Use of this report
This repo1t is made solely to the charity's trustees, as a body, in accordance with the Charities Act 2011. My work has been undertaken so that I might state to the cha1ity's trustees those matters I am required to state to them in an independent examiner's report and for no other pmpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trnstees as a body, for my work, for this report, or for the independent examiner's statement.
�- �,1.H Ground Floor A. Mit�h�llF.C.A. 31 Kentish Town Road Hentons London NWl 8NL
Hentons Chartered Accountants
2 0 DEC 2023
Page 5
THE ROSALYN & NICHOLAS SPRINGER CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITillS
FOR THE YEAR ENDED 5 APRIL 2023
| Notes Income and Endowments Donations fuvestment Income 2 Total Income Expenditure Expenditure on Charitable Activities :- Direct Charitable Expenditure - Grants 3 Suppott Costs (all Goverance Costs) 4 Total Expenditureon Charitable Actvities Net Incoming/(Outgoing) resources fr the year and Net Movements on Funds Unrestricted Funds balance brought frward at 6April 2022 Unrestricted Funds balance carried forward at 5April2023 |
2023 General Fund 45,000 41 |
2022 General Fund 60,000 2 |
|---|---|---|
| £ 45,041 52,351 1,680 £ 54,031 (8,990) 28,429 £ 19,439 |
£ 60,002 54,181 1,680 |
|
| £ 55,861 4,141 24,288 £ 28,429 |
||
| Unrestricted frward at 6 Unrestricted |
||
| forward at 5 |
All of the activities of the charity are classed as continuing.
The notes on pages 7 to 9 fotm part of these Financial Statements.
Page 6
THE ROSALYN & NICHOLAS SPRINGER CHARITABLE TRUST
BALANCE SHEET AT 5 APRIL 2023
| Notes | 2023 |
2022 | |
|---|---|---|---|
| Current Assets | |||
| Balances at Bank | 21,119 | 30,109 | |
| Less: Creditors: | |||
| Amounts falling due within one year | 5 | 1,680 | 1,680 |
| Net Current Assets and Net Assets | £19,439 | £ 28,429 | |
| Represented By: | |||
| Unrestricted Funds - General Reserves | |||
| and Total Charity Funds | 7 | £ 19,439 | £ 28,429 |
| The notes on pages 7 to 9 f01m pa1t of these Financial Statements . | |||
| Approved by the Board ofTrnstees on tw/_ .......7-.................. . N Spnnger - Trnstee |
.Z.otf.�ac., ,J- H'>'.3 RfJ«tj-s-- . .............. ........ . . . . . . . . . . R Springer - ustee |
I
Page7
THE ROSALYN & NICHOLAS SPRINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
1 Accounting Policies Chart Infrmation
The Rosalyn & Nicholas Springer Charitable Trnst is a charity registered with the Charity Commission for England and Wales. The charity's legal form and address is shown on page 1 of the Trnstees' Report. The nature of the charity's operations and principal activities are shown on page 2 of the Trnstees' Report.
Basis of Preparation
The charity is a Public Benefit Entity as defined by Financial Reporting Standard 102 (FRS 102).
The financial statements have been prepared under the historical cost convention in accordance with the Charities Act 2011, the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS 102) 2019 effective January 2019 as subsequently updated), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ttue and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice 2005 which is refen-ed to in the Regulations but which has since been withdrawn.
The financial statements are prepared in Sterling which is the functional currency of the charity. Monetaty amounts in these financial statements are rounded to the nearest£.
The financial statements have been prepared on a going concern basis in accordance with note 9 of the Notes to the Financial Statements.
Income
All income is accounted for as receivable by the charity. There were no permanent endowments received in the year (2022 - NIL).
Expenditure on Charitable Activities
Support Costs are charged on an accrnals basis.
Grants are charged in the year when paid; they comprise donations to third-party institutions in accordance with the charitable objects of the charity and its public benefit objectives.
Funds Structure
Funds held by the charity are :-
Unrestricted General Funds - these are funds which are immediately available to be used in accordance with the charitable objects at the discretion of the trustees.
Taxation
The Rosalyn & Nicholas Springer Charitable Trust is a registered charity and is therefore exempt from Income Tax and Capital Gains Tax.
(
I
Page 8
THE ROSALYN & NICHOLAS SPRINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023 (continued)
1 Accounting Policies (continued)
Value Added Tax
Value Added Tax is not recoverable by the charity and, as such, is included in the relevant costs in the Statement of Financial Activities.
2 Investment Income
| Investment Income Bank Interest 3Direct Charitable ExQenditure-Grants Charitable Donations: Belsize Square Synagogue British Friends oflsrael Dog Centre fr the Blind Camp Simcha Chai Cancer Care Children in Need Community Sercw-ity Trst Heart Cells Foundation Holocaust Educational Trst Jewish Care Jewish Women's Aid LifeLites Light of Jesus Christ Catholic Communit Magen David Ador UK Nightingale Hammerson Proms at St Jude's (S.J.P Charity Ltd) Shaare Zedek The Langdon Foundaton Tikva UK West London Synagogue Wester Marble Arch Synagogue Wizo World Jewish Relief Youth Aliyah Child Rescue Other (all below £1,000) |
No. Grants in year ended 05/04/23 1 I I 1 1 2 2 I I 3 I 1 2 2 1 3 2 5 5 1 2 20 59 |
2023 1,620 250 500 5,000 1,000 5,500 1,000 250 5,000 1,550 2,500 100 10,000 760 1,500 3,150 650 1,875 1,846 1,500 1,250 5,550 £ 52,351 |
£ |
|---|---|---|---|
. '
Page 9
THE ROSALYN & NICHOLAS SPRINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 (continued)
| No. Grants in year ended 05/04/23 Note:- All grants were institutional grants for the puroses of: Medical Care and Welfare 29 Religious Activities and Communal 21 Education 4 Recreation and Culture 5 59 4 Su1rort costs (all Govemance costs) in SUIfOrt of Charitable Activities 30,460 15,491 2,550 3,850 £52,351 Accountancy (£1,380) and costs ofindependent Examination (£300) 5 Creditors : Amounts falling due within one year Accrals No. Grants in year ended 05/04/22 34 14 4 8 60 2023 £ 1,680 2023 £ 1,680 |
32,560 15,671 1,700 4,250 |
|---|---|
| £ 54,181 2022 £ 1,680 2022 £ 1,680 |
6 Staff Costs and Trustees' Remuneration
There were no employees during the year (2022-Nil).
No remuneration was paid to trnstees in the year (2022-Nil) and no expenses were reimbursed to tmstees in the year (2022-Nil).
7 Unrestricted Funds
| Unrestricted Funds Balance at 6 April 2022 Net Movement in Funds for the year Balance at_5_April 2023 |
General Reserves 28,429 (8,990) |
|---|---|
| £ 19,439 |
8 Related Party Transaction
During the year the charity made donations to Magen David Adorn (UK) and Lifelites of £10,000 and £2,500 respectively (2022 £5,350 and £2,000 respectively), both charities of which N. Springer is a trnstee who derived no personal benefit therefrom.
9 Going Concern
There are no material uncertainties about the charity's ability to continue as a going concern having regard to the level of the charity's income, which is expected to be broadly unchanged for the future, and the Net Assets as shown by the charity's Balance Sheet at 5 April 2023.