THE EMMANUEL INSTITUTE TRUST
Financial Statements
for the year ended 31 July 2024
CONTENTS
| Page | |
|---|---|
| General Information | 1 |
| Annual Report | 2-3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6-8 |
THE EMMANUEL INSTITUTE TRUST
General Information
TRUSTEES: Lord Griffiths of Fforestfach (Chairman) J R Lenton (Hon. Secretary) J A Barrett REGISTERED ADDRESS: 31A Kings Avenue LONDON N10 1PA BANKERS: HSBC Bank plc REGISTERED CHARITY NUMBER: 1063529
1
THE EMMANUEL INSTITUTE TRUST
Annual Report
The trustees present their report for the year ended 31 July, 2024.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of the charity's affairs and of the surplus or deficit for the year.
The trustees are reporting the financial activities of the charity on a ‘Receipts and Payments’ basis using a template recommended by the Charity Commission.
The trustees are responsible for:
-
keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity; and
-
safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
-
preparing the accounts in accordance with the requirements of the Charity Act 2011.
CONSTITUTION
The charity was established by a trust deed dated 21 May 1997 and is registered with the Charity Commission, number 1063529. The charity's address is 31A Kings Avenue, London N10 1PA.
TRUSTEES
The trustees of the charity during the year were:
Lord Griffiths of Fforestfach
J R Lenton J A Barrett
All of the trustees were appointed by the original trust deed. There must be a minimum of three trustees. Future trustees must be appointed by a resolution of the trustees passed at a special meeting.
2
THE EMMANUEL INSTITUTE TRUST
Annual Report (continued)
OBJECTS, ORGANISATION AND ACTIVITIES
The charity is established in order to apply trust funds in accordance with Christian principles for the enhancement of education, the preservation of health and other charitable support of the people of Romania and of other former communist countries in Eastern Europe.
The trustees regularly evaluate the impact that the activities of the charity have on meeting its objectives and for the benefit of the public good.
VOLUNTARY HELP
The charity receives a considerable amount of voluntary help from individuals who donate their time free of charge. It is not possible to quantify the value of time given and accordingly this is neither recorded as donated income nor as an expense in the financial statements.
FINANCES
The attached financial statements show the current state of the finances which the trustees consider to be sound.
In the course of this financial year, the Trust has contributed almost £25,000 to the operating expenses of Emanuel University of Oradea, Romania. The Trust is grateful for the generosity of alumni and the University’s supporters in the United Kingdom.
RESERVES
The trustees expect that the charity will require minimal reserves for its future activities, and consequently income received is generally applied within one to two years to the objects of the charity.
Approved by the trustees on
and signed on their behalf by
Lord Griffiths of Fforestfach Chairman of Trustees
3
THE EMMANUEL INSTITUTE TRUST
Statement of Financial Activities
For the Year to 31 July 2024
| Notes INCOME AND EXPENDITURE Income Donations and Gift Aid recoverable 2 Interest 3 Total income Expenditure Direct charitable expenditure 4 Management and administration expenses 4 Total expenditure Net incoming resources for the year Fund balance brought forward at 1 August 2023 (2022) Fund balances carried forward at 31 July 2024 (2023) |
Restricted funds £ Unrestricted funds £ - 29,895 - - _ - 29,895 ________ - 24,996 - 92 _______ - 25,088 _____ - 4,807 4,338 76,176 _________ _________ 4,338 80,983 ======== ========= = |
Total 2024 £ 29,895 - _ 29,895 _ 24,996 92 _ 25,088 _ 4,807 80,514 ___ __ 85,321 ====== = |
Total 2023 £ 9,631 - _ 9,631 _ - 92 _ 92 _ 9,539 70,975 _ 80,514 ======= |
|
|---|---|---|---|---|
| = |
4
THE EMMANUEL INSTITUTE TRUST
Balance Sheet as at 31 July 2024
| Notes CURRENT ASSETS Debtors & accrued income 5 Cash at bank CURRENT LIABILITIES Creditors - amounts falling due within one year NET ASSETS Representing: FUNDS Restricted funds 7 Unrestricted funds |
2024 £ - 85,321 _ 85,321 _ - _ 85,321 ======== 4,338 80,983 _ 85,321 ======== |
2023 £ 105 80,409 _ 80,514 _ - _ 80,514 ======== 4,338 76,176 _ 80,514 ======== |
|---|---|---|
Approved by the trustees on , and signed on their behalf by
Lord Griffiths of Fforestfach Chairman of Trustees
5
THE EMMANUEL INSTITUTE TRUST
Notes to the Financial Statements For the Year Ended 31 July 2022
1 ACCOUNTING POLICIES
(a) General
The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice, Accounting by Charities.
(b) Income and expenditure
Donations are recognised when received. Bank interest is recognised on a receivable basis. Gift Aid tax refunds are recognised on a receivable basis. Expenditure is recognised when incurred.
| 2 | DONATIONS AND GIFT AID RECOVERABLE | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Unrestricted Funds | 29,895 | 9,631 | |
| ====== | ====== | ||
| 3 | INTEREST | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Restricted fund: | |||
| The Dan Popescu Memorial Fund | - | - | |
| Unrestricted Funds | - | - | |
| Total Bank interest | - | - | |
| ===== | ======== | ||
| = |
6
THE EMMANUEL INSTITUTE TRUST
Notes to the Financial Statements For the Year Ended 31 July 2022
4 EXPENDITURE
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Direct charitable expenditure | ||
| Emanuel University support :- |
||
| Buildings repair and maintenance | - | - |
| Operational expenses1 | 24,996 | - |
| Postgraduate support | - | - |
| Kitchen equipment & supplies | - | - |
| Computer equipment & supplies | - | - |
| Academic and teaching expenses | - | - |
| Travel | - | - |
| Miscellaneous | - | - |
| TOTAL | 24,996 | - |
| Management and administration | ||
| Bank charges | 92 | 92 |
| Miscellaneous other expenses | - | - |
| TOTAL | 92 | 92 |
| TOTAL EXPENDITURE | 25 ,088 |
92 |
All the above expenditure related to unrestricted funds.
1 “Operational expenses” include all running costs of Emanuel University – in particular, salaries and benefits, heating and utilities, maintenance, scholarships and bursaries, supplies of all kinds, travel, publicity and general administration.
7
THE EMMANUEL INSTITUTE TRUST
Notes to the Financial Statements For the Year Ended 31 July 2022
| 5 | DEBTORS | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Gift Aid Tax recoverable | - | 105 |
6 TRUSTEES' EXPENSES AND REMUNERATION
During the year there was no reimbursement of expenses to any trustee (2023 Nil).
No trustee nor any person connected with them has received, or is due to receive, any remuneration for the year directly or indirectly from the charity's funds.
7 RESTRICTED FUNDS
| Movement in Resources | Movement in Resources | ||||
|---|---|---|---|---|---|
| Balance | Balance | ||||
| 1 | Aug. 2023 | Incoming | Outgoing | 31 July 2024 | |
| £ | £ | £ | £ | ||
| Dan Popescu Memorial Fund | 4,338 | - | - | 4,338 | |
| _ | _ | _ | _ | ||
| 4,338 | - | - | 4,338 | ||
| ====== | ====== | ====== | ====== |
The monies contained in The Dan Popescu Memorial Fund are to be applied for the benefit of the students at the Griffiths School of Management at Emanuel University of Oradea. These are all held as net current assets. There are currently no other restricted funds.
9
THE EMMANUEL INSTITUTE TRUST
Financial Statements
for the year ended 31 July 2024
CONTENTS
| Page | |
|---|---|
| General Information | 1 |
| Annual Report | 2-3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6-8 |
THE EMMANUEL INSTITUTE TRUST
General Information
TRUSTEES: Lord Griffiths of Fforestfach (Chairman) J R Lenton (Hon. Secretary) J A Barrett REGISTERED ADDRESS: 31A Kings Avenue LONDON N10 1PA BANKERS: HSBC Bank plc REGISTERED CHARITY NUMBER: 1063529
1
THE EMMANUEL INSTITUTE TRUST
Annual Report
The trustees present their report for the year ended 31 July, 2024.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of the charity's affairs and of the surplus or deficit for the year.
The trustees are reporting the financial activities of the charity on a ‘Receipts and Payments’ basis using a template recommended by the Charity Commission.
The trustees are responsible for:
-
keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity; and
-
safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
-
preparing the accounts in accordance with the requirements of the Charity Act 2011.
CONSTITUTION
The charity was established by a trust deed dated 21 May 1997 and is registered with the Charity Commission, number 1063529. The charity's address is 31A Kings Avenue, London N10 1PA.
TRUSTEES
The trustees of the charity during the year were:
Lord Griffiths of Fforestfach
J R Lenton J A Barrett
All of the trustees were appointed by the original trust deed. There must be a minimum of three trustees. Future trustees must be appointed by a resolution of the trustees passed at a special meeting.
2
THE EMMANUEL INSTITUTE TRUST
Annual Report (continued)
OBJECTS, ORGANISATION AND ACTIVITIES
The charity is established in order to apply trust funds in accordance with Christian principles for the enhancement of education, the preservation of health and other charitable support of the people of Romania and of other former communist countries in Eastern Europe.
The trustees regularly evaluate the impact that the activities of the charity have on meeting its objectives and for the benefit of the public good.
VOLUNTARY HELP
The charity receives a considerable amount of voluntary help from individuals who donate their time free of charge. It is not possible to quantify the value of time given and accordingly this is neither recorded as donated income nor as an expense in the financial statements.
FINANCES
The attached financial statements show the current state of the finances which the trustees consider to be sound.
In the course of this financial year, the Trust has contributed almost £25,000 to the operating expenses of Emanuel University of Oradea, Romania. The Trust is grateful for the generosity of alumni and the University’s supporters in the United Kingdom.
RESERVES
The trustees expect that the charity will require minimal reserves for its future activities, and consequently income received is generally applied within one to two years to the objects of the charity.
Approved by the trustees on
and signed on their behalf by
Lord Griffiths of Fforestfach Chairman of Trustees
3
THE EMMANUEL INSTITUTE TRUST
Statement of Financial Activities
For the Year to 31 July 2024
| Notes INCOME AND EXPENDITURE Income Donations and Gift Aid recoverable 2 Interest 3 Total income Expenditure Direct charitable expenditure 4 Management and administration expenses 4 Total expenditure Net incoming resources for the year Fund balance brought forward at 1 August 2023 (2022) Fund balances carried forward at 31 July 2024 (2023) |
Restricted funds £ Unrestricted funds £ - 29,895 - - _ - 29,895 ________ - 24,996 - 92 _______ - 25,088 _____ - 4,807 4,338 76,176 _________ _________ 4,338 80,983 ======== ========= = |
Total 2024 £ 29,895 - _ 29,895 _ 24,996 92 _ 25,088 _ 4,807 80,514 ___ __ 85,321 ====== = |
Total 2023 £ 9,631 - _ 9,631 _ - 92 _ 92 _ 9,539 70,975 _ 80,514 ======= |
|
|---|---|---|---|---|
| = |
4
THE EMMANUEL INSTITUTE TRUST
Balance Sheet as at 31 July 2024
| Notes CURRENT ASSETS Debtors & accrued income 5 Cash at bank CURRENT LIABILITIES Creditors - amounts falling due within one year NET ASSETS Representing: FUNDS Restricted funds 7 Unrestricted funds |
2024 £ - 85,321 _ 85,321 _ - _ 85,321 ======== 4,338 80,983 _ 85,321 ======== |
2023 £ 105 80,409 _ 80,514 _ - _ 80,514 ======== 4,338 76,176 _ 80,514 ======== |
|---|---|---|
Approved by the trustees on , and signed on their behalf by
Lord Griffiths of Fforestfach Chairman of Trustees
5
THE EMMANUEL INSTITUTE TRUST
Notes to the Financial Statements For the Year Ended 31 July 2022
1 ACCOUNTING POLICIES
(a) General
The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice, Accounting by Charities.
(b) Income and expenditure
Donations are recognised when received. Bank interest is recognised on a receivable basis. Gift Aid tax refunds are recognised on a receivable basis. Expenditure is recognised when incurred.
| 2 | DONATIONS AND GIFT AID RECOVERABLE | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Unrestricted Funds | 29,895 | 9,631 | |
| ====== | ====== | ||
| 3 | INTEREST | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Restricted fund: | |||
| The Dan Popescu Memorial Fund | - | - | |
| Unrestricted Funds | - | - | |
| Total Bank interest | - | - | |
| ===== | ======== | ||
| = |
6
THE EMMANUEL INSTITUTE TRUST
Notes to the Financial Statements For the Year Ended 31 July 2022
4 EXPENDITURE
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Direct charitable expenditure | ||
| Emanuel University support :- |
||
| Buildings repair and maintenance | - | - |
| Operational expenses1 | 24,996 | - |
| Postgraduate support | - | - |
| Kitchen equipment & supplies | - | - |
| Computer equipment & supplies | - | - |
| Academic and teaching expenses | - | - |
| Travel | - | - |
| Miscellaneous | - | - |
| TOTAL | 24,996 | - |
| Management and administration | ||
| Bank charges | 92 | 92 |
| Miscellaneous other expenses | - | - |
| TOTAL | 92 | 92 |
| TOTAL EXPENDITURE | 25 ,088 |
92 |
All the above expenditure related to unrestricted funds.
1 “Operational expenses” include all running costs of Emanuel University – in particular, salaries and benefits, heating and utilities, maintenance, scholarships and bursaries, supplies of all kinds, travel, publicity and general administration.
7
THE EMMANUEL INSTITUTE TRUST
Notes to the Financial Statements For the Year Ended 31 July 2022
| 5 | DEBTORS | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Gift Aid Tax recoverable | - | 105 |
6 TRUSTEES' EXPENSES AND REMUNERATION
During the year there was no reimbursement of expenses to any trustee (2023 Nil).
No trustee nor any person connected with them has received, or is due to receive, any remuneration for the year directly or indirectly from the charity's funds.
7 RESTRICTED FUNDS
| Movement in Resources | Movement in Resources | ||||
|---|---|---|---|---|---|
| Balance | Balance | ||||
| 1 | Aug. 2023 | Incoming | Outgoing | 31 July 2024 | |
| £ | £ | £ | £ | ||
| Dan Popescu Memorial Fund | 4,338 | - | - | 4,338 | |
| _ | _ | _ | _ | ||
| 4,338 | - | - | 4,338 | ||
| ====== | ====== | ====== | ====== |
The monies contained in The Dan Popescu Memorial Fund are to be applied for the benefit of the students at the Griffiths School of Management at Emanuel University of Oradea. These are all held as net current assets. There are currently no other restricted funds.
9
THE EMMANUEL INSTITUTE TRUST – a registered charity with the Charity Commission
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
I report to the trustees on my examination of the accounts of the Charity for the year ended 31 July 2024 set out on pages 4-7.
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 Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act. In carrying out my examination I have followed all applicable general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. An independent examination includes a review of the accounting records kept by the charity and the comparison of the Accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the Accounts.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept as required by section 130 of the Act; or
-
the accounts do not accord with those records.
I confirm that there are no matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
SIGNED BY GINA TITHERIDGE as Independent Examiner
18 March 2025