VirtualSignature Transaction Ref. WYCB-RZQ3-3BJ5 24 Sep 2024 11:36:02 BST (UTC +1) D 1/3 P 1/15
Charity number: 1068254
The Richard Harris Charitable Trust
Unaudited
Trustees' report and financial statements
for the year ended 31 December 2023
VirtualSignature Transaction Ref. WYCB-RZQ3-3BJ5 24 Sep 2024 11:36:02 BST (UTC +1) D 1/3 P 2/15
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 |
VirtualSignature Transaction Ref. WYCB-RZQ3-3BJ5 24 Sep 2024 11:36:02 BST (UTC +1) D 1/3 P 3/15
The Richard Harris Charitable Trust
Reference and administrative details of the Charity, its Trustees and advisers for the year ended 31 December 2023
Trustees
Mrs Lucy Marks (appointed 18 December 2023) Mrs Esther Isaacs (resigned 18 December 2023)
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
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The Richard Harris Charitable Trust
Trustees' report for the year ended 31 December 2023
The Trustees present their annual report together with the financial statements of the Charity for the 1 January 2023 to 31 December 2023.
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.
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 £933,450 (2022: £611,300).
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.
b. Methods of appointment or election of Trustees
The recruitment and appointment of new Trustees is agreed by existing Trustees at the Annual General Meeting.
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VirtualSignature Transaction Ref. WYCB-RZQ3-3BJ5 24 Sep 2024 11:36:02 BST (UTC +1) D 1/3 P 5/15
The Richard Harris Charitable Trust
Trustees' report (continued) for the year ended 31 December 2023
Structure, governance and management (continued)
c. 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 and signed on their behalf by:
Lucy Marks 23 Sep 2024 15:53:23 BST (UTC +1)
Mrs Lucy Marks (Chair of Trustees) Date: 23 September 2024
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VirtualSignature Transaction Ref. WYCB-RZQ3-3BJ5 24 Sep 2024 11:36:02 BST (UTC +1) D 1/3 P 6/15
The Richard Harris Charitable Trust
Independent examiner's report
for the year ended 31 December 2023
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 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
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 the ICAEW, 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) issued in October 2019 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 2019.
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
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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.
Signed: 6 Dated: 24 September 2024 Stephen Tanner 24 Sep 2024 11:35:58 BST (UTC +1)
Stephen Tanner BSc (Econ) FCA
Kreston Reeves LLP Chartered Accountants 2nd Floor 168 Shoreditch High Street London E1 6RA
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The Richard Harris Charitable Trust
Statement of financial activities for the year ended 31 December 2023
| 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 2023 £ 912,000 1,636 913,636 933,450 933,450 (19,814) 215,172 (19,814) 195,358 |
Total funds 2023 £ 912,000 1,636 913,636 933,450 933,450 (19,814) 215,172 (19,814) 195,358 |
Total funds 2022 £ 208,600 157 208,757 611,300 611,300 (402,543) 617,715 (402,543) 215,172 |
|---|---|---|---|
The notes on pages 7 to 13 form part of these financial statements.
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The Richard Harris Charitable Trust
Balance sheet as at 31 December 2023
| 2023 | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Fixed assets | ||||||
| Investments | 6 | 3,050 | 3,050 | |||
| 3,050 | 3,050 | |||||
| Current assets | ||||||
| Debtors | 7 | 139,797 | 139,797 | |||
| Cash at bank and in hand | 52,511 | 72,325 | ||||
| 192,308 | 212,122 | |||||
| Net current assets | 192,308 | 212,122 | ||||
| Total assets less current liabilities | 195,358 | 215,172 | ||||
| Total net assets | 195,358 | 215,172 | ||||
| Charity funds | ||||||
| Unrestricted funds | 8 | 195,358 | 215,172 | |||
| Total funds | 195,358 | 215,172 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Lucy Marks 23 Sep 2024 15:53:23 BST (UTC +1)
Mrs Lucy Marks
(Chair of Trustees) Date: 23 September 2024
The notes on pages 7 to 13 form part of these financial statements.
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The Richard Harris Charitable Trust
Notes to the financial statements for the year ended 31 December 2023
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 in October 2019 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.
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VirtualSignature Transaction Ref. WYCB-RZQ3-3BJ5 24 Sep 2024 11:36:02 BST (UTC +1) D 1/3 P 10/15
The Richard Harris Charitable Trust
Notes to the financial statements for the year ended 31 December 2023
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.
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The Richard Harris Charitable Trust
Notes to the financial statements for the year ended 31 December 2023
2. Income from donations and legacies
| Unrestricted funds 2023 £ Donations 912,000 Total 2022 208,600 Investment income Unrestricted funds 2023 £ Bank interest 1,636 Total 2022 157 |
Total funds 2023 £ 912,000 208,600 Total funds 2023 £ 1,636 157 |
Total funds 2022 £ 208,600 |
|---|---|---|
| Total funds 2022 £ 157 |
||
3. Investment income
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The Richard Harris Charitable Trust
Notes to the financial statements for the year ended 31 December 2023
4. Analysis of grants
| Grants to Institutions 2023 Total funds 2023 £ £ Grants to institutions 933,450 933,450 Total 2022 611,300 611,300 The Charity has made the following material grants to institutions during the year: Name of institution British Friends of United Hatzalah Israel British Friends of Zaka Chai Cancer Care CST Future Dreams Trust Food Bank Aid Holocaust Educational Trust Jewish Care Jewish Volunteering Network My Israel National Holocaust Centre Norwood Ravenswood Union of Jewish Students Wizo Other grants to institutions |
Total funds 2022 £ 611,300 |
|---|---|
| 2023 £ 11,000 10,000 55,000 100,000 15,000 10,000 10,000 500,500 10,000 12,000 25,000 50,000 50,000 30,000 |
|
| 888,500 44,950 |
|
| 933,450 |
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VirtualSignature Transaction Ref. WYCB-RZQ3-3BJ5 24 Sep 2024 11:36:02 BST (UTC +1) D 1/3 P 13/15
The Richard Harris Charitable Trust
Notes to the financial statements
for the year ended 31 December 2023
5. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - £NIL) .
6. Fixed asset investments
| Cost or valuation At 1 January 2023 At 31 December 2023 Net book value At 31 December 2023 At 31 December 2022 |
Listed securities £ 3,050 |
|---|---|
| 3,050 | |
| 3,050 | |
| 3,050 |
7. Debtors
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Other debtors | 139,797 | 139,797 |
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The Richard Harris Charitable Trust
Notes to the financial statements for the year ended 31 December 2023
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 2023 £ 215,172 Balance at 1 January 2022 £ 617,715 |
Income £ 913,636 Income £ 208,757 |
Expenditure £ (933,450) Expenditure £ (611,300) |
Balance at 31 December 2023 £ 195,358 |
|---|---|---|---|---|
| Balance at 31 December 2022 £ 215,172 |
9. Analysis of net assets between funds Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Fixed asset investments 3,050 Current assets 192,308 Total 195,358 |
Total funds 2023 £ 3,050 192,308 |
|---|---|
| 195,358 |
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The Richard Harris Charitable Trust
Notes to the financial statements for the year ended 31 December 2023
9. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Fixed asset investments Current assets Total |
Unrestricted funds 2022 £ 3,050 212,122 215,172 |
Total funds 2022 £ 3,050 212,122 |
|---|---|---|
| 215,172 |
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 2023.
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