DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
COMPANY REGISTRATION NUMBER: 03870076
CHARITY REGISTRATION NUMBER: 1082552
WST Charity Limited
Company Limited by Guarantee Financial Statements
31 December 2020
COHEN ARNOLD
Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NW11 0PU
DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2020
| Page | |
|---|---|
| Trustees' annual report (incorporating the directors' report) | 1 |
| Independent auditor's report to the members | 5 |
| Statement of financial activities (including income and expenditure | |
| account) | 10 |
| Statement of financial position | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 |
DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Directors' Report)
Year ended 31 December 2020
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 December 2020.
Reference and administrative details
Registered charity name WST Charity Limited Charity registration number 1082552 Company registration number 03870076 Principal office 1 Boyne Avenue London NW4 2JL Registered office New Burlington House 1075 Finchley Road London NW11 0PU The trustees Mr G J Fraenkel Mr N D Heller Mr I S Jay Mr A Nevies Mr A E D Rosenberg Mr M Wiesenfeld Company secretary Mrs R L Fraenkel Auditor Cohen Arnold Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road London NW11 0PU
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Directors' Report) (continued)
Year ended 31 December 2020
Structure, governance and management
The Charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The day to day running of the Charity is delegated by the Trustees to Mr N D Heller and supported by all other Trustees.
Governance and internal control
The power of appointing new or additional Trustees hereof or removing Trustees is vested in the persons who are for the time being the Trustees. It is not currently the intention of the Trustees of the Charity to appoint new Trustees. Should the situation change in the future, the Trustees will apply suitable recruitment and training procedures and new Trustees will be given access to the relevant Charity Commission publications.
Objectives and activities
The objectives of the Charity, as established, continued unchanged, to alleviate poverty of individuals and to further education according to the tenets of Orthodox Jewish faith. Subsequent to the year end the trustees updated the objectives to include:
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The prevention and relief of poverty through the provision of: grants, items and services and support to individuals in need.
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The relief of sickness, including emotional and mental ill health, through the provision of grants for facilities, equipment and services, including counselling and therapy.
-
The advancement of education.
All these for the benefit of the public and according to the tenets of the Orthodox Jewish Faith.
The fundamental purpose and objective of the Charity is to raise funds on an ongoing basis in order to provide local (London) needy individuals and families with their daily needs. Several methods of distribution are employed. Some recipients receive regular payments, based on the Trustees' calculation of their weekly or monthly requirements. These amounts are adjusted if and when circumstances change. Other recipients receive financial assistance on a one-off basis with the option of applying for further aid if necessary.
New applicants are initially referred by local Rabbis, family members, neighbours or social welfare organisations. Trustees obtain information from various sources in order to approve and justify payments. The details of each potential beneficiary are communicated to at least two Trustees who determine the degree of assistance necessary, based on financial and other information regarding the applicant. Exceptional care is taken to protect, as far as possible, the anonymity and respect of recipients. Discretion is of importance when raising and distributing funds, as the beneficiaries often wish to conceal their identities.
The Trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Directors' Report) (continued)
Year ended 31 December 2020
Achievements and performance
During the period distributions were made to approximately 500 needy families. The Charity also made grants and gave donations to a wide variety of needy cases including poor brides, medical assistance, orphans and families in financial stress.
Financial review
During the year the Charity had charity income of £1,825,192 (2019: £1,431,502) and charitable expenditure of £1,651,948 (2019: £1,631,586). This resulted in an net income of £173,244 and the Charity considers the financial year to be a satisfactory achievement as it meets all the charitable donation demands and has reserve funds in the bank.
Reserves
The Charity has a policy of ensuring that at all times it has sufficient funds to support its activities for approximately 4 months. Reserves at the Balance Sheet date were above this level as the Trustees believed this necessary due to the ongoing increased demands on the charity. The Trustees are confident that the reserves can be increased further in due course if necessary.
Risk Management
The Trustees have identified and reviewed the major risks to which the Charity is exposed, in particular those related to the operations and finance of the Charity, and are satisfied that systems are in place to mitigate those risks.
Covid-19
The outbreak of Covid-19 during 2020 increased the demands on the charity. The trustees are grateful to the many donors and charitable trusts whose generosity enabled the charity to continue to meet the demands. The increased level of demand continued after the year end and is expected to continue for some time. The Trustees recognise that they have the ability to exercise control over the charity's grant making due to the absence of any legally binding obligations. Challenges regarding fundraising are beyond the control of the charity and represent uncertainty to the income of the charity. The Trustees are confident that the impact of this should be manageable.
Plans for future periods
The Charity plans to continue its distributions to families in need as well as to the other local needy cases.
Investments powers, policy and performance
The Charity places surplus funds in a bank deposit account. It is the view of the trustees that due to the rapid turnover of funds it would not be prudent to invest in any other type of account as the Charity requires immediate access to its funds.
Trustees' responsibilities statement
The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Directors' Report) (continued)
Year ended 31 December 2020
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
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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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting 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 charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that:
-
so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
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they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report (incorporating the directors' report) was approved on 20 July 2021 and signed on behalf of the board of trustees by:
Mr N D Heller Trustee
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Independent Auditor's Report to the Members of WST Charity Limited
Year ended 31 December 2020
Opinion
We have audited the financial statements of WST Charity Limited (the 'charity') for the year ended 31 December 2020 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Independent Auditor's Report to the Members of WST Charity Limited (continued)
Year ended 31 December 2020
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the trustees' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Independent Auditor's Report to the Members of WST Charity Limited (continued)
Year ended 31 December 2020
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity through discussion with the trustees and identified which were most significant with respect to the financial statements. We identified financial reporting legislation and charity legislation as being most significant to these financial statements. We communicated these identified frameworks amongst our audit team and remained alert to any indications of noncompliance throughout the audit. We ensured that the engagement team had sufficient competence and capability to identify or or recognise non-compliance with laws and regulations.
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We discussed with the trustees the policies and procedures regarding compliance with these legal and regulatory frameworks.
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We assessed the susceptibility of the charity's financial statements to material misstatement due to non-compliance with legal and regulatory frameworks, including how fraud might occur, by enquiry with the trustees during the planning and finalisation stages of our audit. The susceptibility to such material misstatement was determined to be low.
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Based on this understanding, we designed our audit procedures to identify non-compliance with the identified legal and regulatory frameworks, which were part of our procedures on the related financial statement items. Our procedures included reviewing the charity's internal controls policies and procedures, the minutes of trustees' meetings and correspondence and journal entries, and discussions with the trustees.
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Independent Auditor's Report to the Members of WST Charity Limited (continued)
Year ended 31 December 2020
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
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Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Independent Auditor's Report to the Members of WST Charity Limited (continued)
Year ended 31 December 2020
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
David Goldberg (Senior Statutory Auditor)
For and on behalf of Cohen Arnold Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road London NW11 0PU 20 July 2021
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 December 2020
| 2020 | 2020 | 2019 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 1,824,731 | 1,824,731 | 1,430,412 |
| Investment income | 6 | 461 | 461 | 1,090 |
|
|
|
||
| Total income | 1,825,192 | 1,825,192 | 1,431,502 | |
|
|
|
||
| Expenditure | ||||
| Expenditure on charitable activities | 7,8 | (1,651,948) | (1,651,948) | (1,631,586) |
|
|
|
||
| Total expenditure | (1,651,948) | (1,651,948) | (1,631,586) | |
|
|
|
||
|
|
|
||
| Net income/(expenditure) and net movement in funds | 173,244 | 173,244 | (200,084) | |
|
|
|
||
| Reconciliation of funds | ||||
| Total funds brought forward | 500,928 | 500,928 | 701,012 | |
|
|
|
||
| Total funds carried forward | 674,172 |
674,172 |
500,928 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 13 to 16 form part of these financial statements.
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Statement of Financial Position
31 December 2020
| 2020 | 2019 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Current assets | ||||
| Cash at bank and in hand | 680,172 | 505,928 | ||
| Creditors: amounts falling due within one year | 13 | (6,000) | (5,000) | |
|
|
|||
| Net current assets | 674,172 | 500,928 | ||
|
|
|||
| Total assets less current liabilities | 674,172 | 500,928 | ||
|
|
|||
| Net assets | 674,172 | 500,928 | ||
|
|
|||
| Funds of the charity | ||||
| Unrestricted funds | 674,172 | 500,928 | ||
|
|
|||
| Total charity funds | 14 | 674,172 |
500,928 |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 20 July 2021, and are signed on behalf of the board by:
Mr I S Jay Trustee
The notes on pages 13 to 16 form part of these financial statements.
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 December 2020
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income/(expenditure) | 173,244 | (200,084) |
| Adjustments for: | ||
| Other interest receivable and similar income | (461) | (1,090) |
| Accrued expenses | 1,000 | – |
|
|
|
| Cash generated from operations | 173,783 | (201,174) |
| Interest received | 461 | 1,090 |
|
|
|
| Net cash from/(used in) operating activities | 174,244 | (200,084) |
|
|
|
| Net increase/(decrease) in cash and cash equivalents | 174,244 | (200,084) |
| Cash and cash equivalents at beginning of year | 505,928 | 706,012 |
|
|
|
| Cash and cash equivalents at end of year | 680,172 | 505,928 |
|
|
The notes on pages 13 to 16 form part of these financial statements.
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2020
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There have been no material adjustments based on estimations and assumptions during the financial year.
Fund accounting
Unrestricted funds comprise the accumulated surplus or deficit from the charity's income and expenditure. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.
Restricted funds are funds subject to specific restricted conditions imposed by donors.
Designated funds are funds which have been set at the discretion of the Trustees for specific purposes.
Incoming resources
All donations are recognised in the statement of financial activities (SOFA) of the charity when received. All other income is recognised on a receivable basis.
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2020
3. Accounting policies (continued)
Resources expended
All expenditure is classified under the Charity's principal categories of charitable and other expenditure and by the type of expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
5. Donations and legacies
| 5. | Donations and legacies | ||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2020 | Funds | 2019 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 1,824,731 | 1,824,731 | 1,430,412 | 1,430,412 | |
|
|
|
|
||
| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2020 | Funds | 2019 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 461 | 461 | 1,090 | 1,090 | |
|
|
|
|
||
| 7. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2020 | Funds | 2019 | ||
| £ | £ | £ | £ | ||
| Grants paid | 1,638,666 | 1,638,666 | 1,619,950 | 1,619,950 | |
| Support costs | 13,282 | 13,282 | 11,636 | 11,636 | |
|
|
|
|
||
| 1,651,948 | 1,651,948 | 1,631,586 | 1,631,586 | ||
|
|
|
|
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2020
8. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly | Support costs | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Grants paid | 1,638,666 | 875 | 1,639,541 | 1,621,082 |
| Governance costs | – | 12,407 | 12,407 | 10,504 |
|
|
|
|
|
1,638,666 |
13,282 |
1,651,948 |
1,631,586 |
9. Analysis of support costs
| Analysis of support costs | |||
|---|---|---|---|
| Analysis of | |||
| support costs | Total 2020 | Total 2019 | |
| £ | £ | £ | |
| Finance costs | 4,592 | 4,592 | 4,153 |
| Governance costs | 215 | 215 | 351 |
|
|
|
|
| 4,807 | 4,807 | 4,504 | |
|
|
|
|
| Auditors remuneration | |||
| 2020 | 2019 | ||
| £ | £ | ||
| Fees payable for the audit of the financial statements | 7,600 | 6,000 | |
|
|
10. Auditors remuneration
11. Staff costs
No salaries or wages have been paid to employees, including the members of the committee, during the period.
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13. Creditors: amounts falling due within one year
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 6,000 | 5,000 |
|
|
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DocuSign Envelope ID: 14C24BA1-D007-4E23-8D91-E748432C339A
WST Charity Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2020
14. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 January | 31 | December | ||||
| 2020 | Income | Expenditure | 2020 | |||
| £ | £ | £ | £ | |||
| General funds | 500,928 | 1,825,192 | (1,651,948) | 674,172 | ||
|
|
|
|
|||
| At | At | |||||
| 1 January | 31 | December | ||||
| 2019 | Income | Expenditure | 2019 | |||
| £ | £ | £ | £ | |||
| General funds | 701,012 | 1,431,502 | (1,631,586) | 500,928 | ||
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|
|
|
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| 15. | Analysis of net assets between funds | |||||
| Unrestricted | Total Funds | |||||
| Funds | 2020 | |||||
| £ | £ | |||||
| Current assets | 680,172 | 680,172 | ||||
| Creditors less than 1 year | (6,000) | (6,000) | ||||
|
|
|||||
| Net assets | 674,172 | 674,172 | ||||
|
|
|||||
| Unrestricted | Total Funds | |||||
| Funds | 2019 | |||||
| £ | £ | |||||
| Current assets | 505,928 | 505,928 | ||||
| Creditors less than 1 year | (5,000) | (5,000) | ||||
|
|
|||||
| Net assets | 500,928 | 500,928 | ||||
|
|
|||||
| 16. | Analysis of changes in net debt | |||||
| At | ||||||
| At 1 Jan 2020 | Cash flows | 31 Dec 2020 | ||||
| £ | £ | £ | ||||
| Cash at bank and in hand | 505,928 | 174,244 | 680,172 | |||
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|
|
17. Related parties
Included in donations are amounts received from time to time from the trustees of the Charity. These amounts are immaterial compared to total donations per year.
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