Charity number: 1068254
The Richard Harris Charitable Trust
Unaudited
Trustees' report and financial statements
for the year ended 31 December 2021
The Richard Harris Charitable Trust
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 13 |
The Richard Harris Charitable Trust
Reference and administrative details of the Charity, its Trustees and advisers for the year ended 31 December 2021
Trustees
Mrs Lucy Marks Mrs Esther Isaacs
Charity registered number
1068254
Principal office
Flat 95 Dorset House Gloucester Place London NW1 5AF
Accountants
Kreston Reeves LLP Chartered Accountants 2nd Floor 168 Shoreditch High Street London E1 6RA
Page 1
The Richard Harris Charitable Trust
Trustees' report for the year ended 31 December 2021
The Trustees present their annual report together with the financial statements of the Charity for the 1 January 2021 to 31 December 2021.
Objectives and activities
a. Policies and objectives
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)'.
The Trust's objectives are to distribute the income and capital of the Trust for any charitable purpose.
b. Activities undertaken to achieve objectives
The policies adopted in furtherance of these objectives are to distribute grants to established charities of high repute.
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.
The Trustees rarely give direct aid to individuals nor do they seek to raise funds from the public, and there has been no change in these objectives during the year.
Achievements and performance
a. Review of activities
During the year the Trustees have examined requests from a large number of institutions and have made grants amounting to £577,933 (2020: £558,285).
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months' expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust's current activities while consideration is given to ways in which additional funds may be raised.
Structure, governance and management
a. Constitution
The Richard Harris Charitable Trust is a registered charity, number 1068254, and is constituted under a Trust deed.
Page 2
The RiGhard Harris Charitable Tn45t TNstees' report Iconlinued} lorlhe year ended 31 December 2021 gOvernCe and manageThnt Icontiiued) b. Methods of appoinlmenl or election of TNstees The recrurtrnerrt and appointment ofnfjwTru8tee¥ is aweed by existing Tnthes al the Annual General Meeting. c. Risk ManageMt The Trustees have assessed the major risks to which the Charity is exposed. in panirJJlaT those related to the operations and ffinances of thè charY. and are salisfied that sy¥t•ms tynd prKedures are in place to mltigatè exposure to the major rtsks. Apwoved by order oflhe membeTr oflhe boaid ofTntstees and Sied on thr behalf by: M¥s Esther lsaacs {Trusteel Date.. 18 November 2022 Page 3
The Richard Harris Charitable Trust
Independent examiner's report
for the year ended 31 December 2021
Independent examiner's report to the Trustees of The Richard Harris Charitable Trust ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2021.
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
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (enter body here), which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
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.
Signed: Dated: 21 November 2022
Stephen Tanner BSc (Econ) FCA
Kreston Reeves LLP Chartered Accountants 2nd Floor 168 Shoreditch High Street London E1 6RA
Page 4
The Richard Harris Charitable Trust
Statement of financial activities for the year ended 31 December 2021
| Note Income from: Donations and legacies 2 Investments 3 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 996,534 30 996,564 577,433 577,433 419,131 198,584 419,131 617,715 |
Total funds 2021 £ 996,534 30 996,564 577,433 577,433 419,131 198,584 419,131 617,715 |
Total funds 2020 £ 643,179 244 |
|---|---|---|---|
| 643,423 | |||
| 558,285 | |||
| 558,285 | |||
| 85,138 | |||
| 113,446 85,138 |
|||
| 198,584 |
The notes on pages 7 to 13 form part of these financial statements.
Page 5
The Richard Hafrls Charliable Trust Balance sheet as at 31 December 2021 2021 2020 Flxed assets Investsnents 3,0 3,OSO 3,050 Cunent assèts Debtors 139,797 474 87,5QO 108,034 Cash at bank and in hand 614MS 195,534 Net cumt ass 614A65 195,534 Totsl assets less current fbIl[lieS 617.71S 198,584 Net assets excknling pension aet 617,715 198,584 Total net assats 617.71S 198.584 Charity funds Unrestricted fvnd8 617.715 198,584 Total ndS 617,71S 198.584 The financial statements we approved and aulhowd for issue by the Twstees and signed on their behalf by.. 3sL MTS Esth•r Isaacs ITNsteel Date: 18 November 2022 The notes on pages 7 to 13 form part 0ftrse finanaal statements. Pap6
The Richard Harris Charitable Trust
Notes to the financial statements for the year ended 31 December 2021
1. Accounting policies
1.1 Basis of preparation of financial statements
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.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise states in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
The Richard Harris Charitable Trust meets the definition of a public benefit entity under FRS 102.
1.2 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.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 7
The Richard Harris Charitable Trust
Notes to the financial statements for the year ended 31 December 2021
1. Accounting policies (continued)
1.3 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 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.
1.4 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 the 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.
1.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.6 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.
1.7 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.
Page 8
The Richard Harris Charitable Trust
Notes to the financial statements for the year ended 31 December 2021
2. Income from donations and legacies
| Unrestricted funds 2021 £ Donations 996,534 Total 2020 643,179 Investment income Unrestricted funds 2021 £ Bank interest 30 Total 2020 244 |
Total funds 2021 £ 996,534 643,179 Total funds 2021 £ 30 244 |
Total funds 2020 £ 643,179 |
|---|---|---|
| Total funds 2020 £ 244 |
||
3. Investment income
Page 9
The Richard Harris Charitable Trust
Notes to the financial statements for the year ended 31 December 2021
4. Analysis of grants
| Grants to Institutions 2021 Total funds 2021 £ £ Grants to institutions 577,433 577,433 Total 2020 558,285 558,285 The Charity has made the following material grants to institutions during the year: 2021 £ Name of institution Chai Cancer Care 5,000 Crisis UK 5,000 CST 100,000 Food Bank Aid 5,000 Future Dreams Trust 11,000 Holocaust Educational Trust 10,000 Immanuel College - J Roots 3,600 Jewish Care 300,500 Jewish Leadership Council - Jewish Volunteering Network 10,000 Magen David Adom 5,000 Merseyside Jewish Community Care 10,000 My Israel 11,000 National Holocaust Centre 1,500 Norwood Ravenswood 50,000 United Jewish Chaplaincy - Western Marble Arch Synagogue 6,000 Willow Foundation 1,000 Wizo 33,333 567,933 Other grants to institutions 9,500 577,433 |
Total funds 2020 £ 558,285 |
|---|---|
| 2020 £ 6,000 5,000 100,000 - 10,000 - 5,000 3,600 300,000 5,000 10,000 1,000 5,000 10,000 500 50,000 5,000 7,000 500 30,000 |
|
| 553,600 4,685 |
|
| 558,285 |
Page 10
The Richard Harris Charitable Trust
Notes to the financial statements
for the year ended 31 December 2021
5. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) . During the year ended 31 December 2021, no Trustee expenses have been incurred (2020 - £NIL) .
6. Fixed asset investments
| Cost or valuation At 1 January 2021 At 31 December 2021 Net book value At 31 December 2021 At 31 December 2020 |
Listed securities £ 3,050 |
|---|---|
| 3,050 | |
| 3,050 | |
| 3,050 |
7. Debtors
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Other debtors | 139,797 | 87,500 |
Page 11
The Richard Harris Charitable Trust
Notes to the financial statements for the year ended 31 December 2021
8. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 January 2021 £ 198,584 Balance at 1 January 2020 £ 113,446 |
Income £ 996,564 Income £ 643,423 |
Expenditure £ (577,433) Expenditure £ (558,285) |
Balance at 31 December 2021 £ 617,715 |
|---|---|---|---|---|
| Balance at 31 December 2020 £ 198,584 |
| 9. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2021 £ Fixed asset investments 3,050 Current assets 614,665 Total 617,715 |
Total funds 2021 £ 3,050 614,665 |
|---|---|
| 617,715 |
Page 12
The Richard Harris Charitable Trust
Notes to the financial statements for the year ended 31 December 2021
9. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Fixed asset investments Current assets Total |
Unrestricted funds 2020 £ 3,050 195,534 198,584 |
Total funds 2020 £ 3,050 195,534 |
|---|---|---|
| 198,584 |
10. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2021.
Page 13