Company number: 3835079 Charity number: 1080733
THE JOLANTA AND MAX NEUFELD CHARITABLE TRUST COMPANY LIMITED BY GUARANTEE
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Peter Angel & Co Chartered Accountants The Coach House Powell Rd Buckhurst Hill Essex IG9 5RD
THE JOLANTA AND MAX NEUFELD CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 |
| Accountant's report | 8 |
THE JOLANTA AND MAX NEUFELD CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023
The trustees present their report with the financial statements for the year ended 30 September 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the financial statements and comply with the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the "Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 105)" (As amended for accounting periods commencing from 1 January 2016).
REGISTERED OFFICE
13 Sawmill Studios, 19 Parr Street, London N1 7GW
TRUSTEES
Penelope Fulton Abraham Colin Hayward Stephan Max Neufeld David Judah Rosenberg Deborah Alison Saunt (Chair)
SECRETARY
Penelope Fulton Abraham
BANKERS
CAF Bank 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ
STRUCTURE, GOVERNMENT AND MANAGEMENT
Governing Document
The Trust is a company limited by guarantee and not having a share capital. It is governed by memorandum and articles of association. The liability of the members in the event of the company being wound up is limited to £1 each. The company is a registered charity and acts as a non profitmaking organisation.
Appointment of trustees
The directors of the charitable company are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. As set out in the articles of association, one third of all trustees retire every year and are proposed for re-election at the annual general meeting (AGM).
The financial statements comply with current statutory requirements, the memorandum and articles of association and the statement of recommended practice (SORP) 'accounting and reporting by charities' issued March 2005.
Risk Management
The trustees have a formal risk management process to assess and manage risks. This involves identifying the types of risks the society faces and means of mitigating them. The trustees ensure that the trust's internal financial controls conform with guidelines issued by the Charity Commission and this is checked annually.
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THE JOLANTA AND MAX NEUFELD CHARITABLE TRUST
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2023
Organisational Structure and internal control
One third of all trustees retire every year and are proposed for re-election at the AGM. The trustees take overall accountability for ensuring that financial and legal responsibilities of the charity are met. They decide policy and strategy and ensure the charity fulfils its objectives.
OBJECTIVES AND ACTIVITIES
To support the furtherance or advancement or benefit of such one or more charitable institutions or charitable puposes as the trustees shall from time to time select provided that no funds may be applied for any purpose which is not charitable.
To preserve for the benefit of the people of Greater London and of the nation at large the buildings and other parts of the architectural constructional heritage as may exist in and around the area of Fitzrovia where they are of particular beauty, historical, architectural or constructional interest.
ACHIEVEMENTS AND PERFORMANCE
For the year ended 30th September 2023 the trust had an income of £40,860, lower than the previous year (£48,813).
Donations were made totalling £35,000 (£35,000 in 2022). Donations were made to the following charities:
Civil Liberties Trust Howard League for Penal Reform Prison Reform Trust CALM
The trustees regularly review the trust's investment strategy.
FINANCIAL REVIEW
The trust had an income of £40,860 and direct charitable expenditure and administration costs of £39,081, so that income exceeded expenditure by £1,779 (2022 - income exceeded expenditure by £12,536 and the surplus increased reserves).
PUBLIC BENEFIT
Public benefit is derived from the activities of the charities to whom the donations are made, in accordance with our 'objectives and activities' above.
PRINCIPAL FUNDING SOURCES
The principal funding sources for the charity are investment income and donations.
RESERVES POLICY
The general fund (£209,819) represents the unrestricted funds arising from donations and past operating results. It also represents the free reserves of the charity.
The current policy of the trust is to apply the income from the general fund to general charitable purposes, as set out in paragraph 1 of the 'objects of the charitable trust' above. The reserves policy is reviewed annually by the trustees.
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THE JOLANTA AND MAX NEUFELD CHARITABLE TRUST
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2023
RESPONSIBILITIES OF THE TRUSTEES
Company and charity law requires the trustees to prepare the financial statements for each financial year, which give a true and fair view of the state of affairs of the trust and of its income and expenditure for the year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently
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make judgements and estimates that are reasonable and prudent
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in business
The trustees have overall responsibility for ensuring that the trust has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the trust and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that:
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the trust is operating effciently and effectively
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its assets are safeguarded against unauthorised use or disposition
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proper records are maintained and financial information used with the trust for publication is reliable
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the trust complies with relevent laws and regulations
Trustees
Trustees, who are the directors for the purposes of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1. This report has been prepared in accordance with special provisions of Part 15 of the Companies Act 2006.
Approved by the trustees on 13th May 2024 and signed on its behalf by:
PF Abraham Secretary
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THE JOLANTA AND MAX NEUFELD CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Note INCOMING RESOURCES Interest received on cash deposits Share dividends & gain on sale Donations TOTAL INCOMING RESOURCES RESOURCES EXPENDED Direct charitable expenditure 3 Management and administration of the charity 4 TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES Balance brought forward 1 October 2022 TOTAL FUNDS AT 30 SEPTEMBER 2023 |
Unrestricted Funds 20232 £ 3,360 37,500 40,860 35,000 4,081 39,081 1,779 208,040 209,819 |
Unrestricted Funds 2022 £ 412 10,901 37,500 48,813 35,000 1,277 36,277 12,536 195,504 208,040 |
|---|---|---|
All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above. The profit for the year for Companies Act comprises net incoming resources for the year.
The notes on pages 6 and 7 form part of these financial statements
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THE JOLANTA AND MAX NEUFELD CHARITABLE TRUST
BALANCE SHEET AS AT 30 SEPTEMBER 2023
| Note CURRENT ASSETS Sundry debtors Short term bank deposits Cash at bank and in hand CREDITORS: amounts falling due within one year 5 NET CURRENT ASSETS CHARITY FUNDS General fund TOTAL FUNDS |
Unrestricted Funds 2023 £ 15,000 174,093 21,726 210,819 -1,000 209,819 209,819 209,819 |
Unrestricted Funds 2022 £ 7,500 103,498 97,992 208,990 -950 208,040 208,040 208,040 |
|---|---|---|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
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(a) ensuring that the trust keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006.
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(b) preparing financial statements which give a true and fair view of the state of affairs of the trust as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the trust.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the trustees and signed on their behalf by:
PF Abraham
D A Saunt
13th May 2024
The notes on pages 6 and 7 form part of these financial statements
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THE JOLANTA AND MAX NEUFELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
1. CHARITY AND STATUTORY INFORMATION
The Jolanta and Max Neufeld Charitable Trust is a private company limited by guarantee incorporated in England & Wales.
2. ACCOUNTING POLICIES
Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention, and in accordance the Financial Reporting Standard for smaller entities FRS 105. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.
The financial statements are prepared in sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.
Going concern
At the time of approving the accounts the trustees have a reasonable expectation the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Fund accounting
Unrestricted funds:
This is the general fund which the charity uses for its purposes at its discretion.
Investments
Investments are stated at cost at the balance sheet date. The 'statement of financial activities' includes the net gains and losses arising from disposals throughout the year.
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THE JOLANTA AND MAX NEUFELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
| 3 DIRECT CHAITABLE EXPENDITURE Donations to charitable trusts 4 MANAGEMENT AND ADMINISTRATION OF THE CHARITY Accountancy fee Postage & Stationery Legal fees Sundry expenses Bank charges 5 CREDITORS due within one year Accrued expenses |
Unrestricted Funds 2023 £ 35,000 1000 288 2437 250 106 4081 1000 |
Unrestricted Funds 2022 £ 35000 950 200 127 1277 950 |
|---|---|---|
6 TRUSTEES
The trustees receive no remuneration for their services and were not reimbursed for expenses.
7 TAXATION
No liability to UK corporation tax arose on ordinary activities for the year ended 30 September 2023 nor for the year ended 30 September 2022.
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THE JOLANTA AND MAX NEUFELD CHARITABLE TRUST
INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023
INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS
Report to the trustees/members for the year ended 30 September 2023 on the accounts set out on pages 4 to 7.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
As described on page 5 the trustees are responsible for the preparation of the accounts, and they consider that an audit is not required for this year under the Charities (Accounts and Reports) Regulations 2008, and that an independent examination is needed. It is my responsibility to:
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examine the accounts
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follow the procedures laid down in the General Directions given by the Charity Commissioners
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state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a 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 the 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 accounts.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with the Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Peter Angel & Co Chartered Accountants
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