Charity Registration No. 1086870
THE EAST WEST EDUCATIONAL TRUST TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
THE EAST WEST EDUCATIONAL TRUST LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
A Munthe E Moffatt M Cooper
Secretary
Josephine Sheridan
Charity Number
1086870
Principal Address
5 Earls Walk London W8 6EP
Independent Examiner
Andrew Kean FCCA Chartered Accountant 46 Offington Avenue West Sussex BN14 9PJ
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THE EAST WEST EDUCATIONAL TRUST
CONTENTS
| Page | |
|---|---|
| Trustees’ report | 3 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 10 |
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THE EAST WEST EDUCATIONAL TRUST
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their report and financial statements for the year ended 31 March 2022.
The financial statements have been prepared in accordance with the accounting policies set out on page 9 in the note to the accounts and comply with the charity's Trust Deed, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS102) effective 1 January 2019.
Objectives and activities
The Trust was established by a Deed dated 6 June 2001 for the purpose of advancing the education of the public in the UK and abroad in the:
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Arts, science, culture, languages, history, philosophy and religions of the countries of Europe, the Middle East, Asia, USA and South America and to advance public understanding of the influences on their development.
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The relief of sickness and the protection, preservation and improvement of public health in the UK and abroad.
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The relief of poverty in the UK and abroad.
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Such other charitable purposes as the Trustees may from time to time think fit.
How our activities deliver public benefit
The Trustees have throughout the year paid regard to the Charity Commission's guidance on public benefit in dealing with the aims and activities of the charity.
Our funds continue to be raised through individual donations, and Trustees are mindful to retain a proportion of funds received for rent, heating and electricity costs. Trustees in no way, financial or other, benefit from their role.
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(1) In June 2021, we donated £5,500 to Daria Nur, a charitable organization in Brazil, whose work engages with people from diverse national, social, religious and cultural backgrounds in order to promote education, wellbeing and understanding.
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(2) In October 2021, we donated £5,500 to La Zahara, a charitable organisation in Arcos-de-la-Frontera in Spain towards the upkeep of their facilities, kitchens and gardens where people from all over the world meet annually.
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(3) We have organised conferences with attendees from around the world, presented by Aziz Djendli, a respected French psychotherapist, covering different cross-cultural, social, and therapeutic themes.
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(4) We continue to support Anna Ali-Shah’s efforts in preserving, compiling and co-ordinating the intercultural educational work of Omar Ali-Shah, writer, poet and translator. His charitable objectives included the dissemination of educational, sociological, and cross-cultural research principally in Europe, South America and the USA.
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(5) We donated £3,295 to the Ushuaia Botanic Gardens (Asociación Civil Nuria Tierra del Fuego which are used by the local and wider communities for creative relaxation, mindfulness and wellbeing courses.
Achievements and performance
The charity Trust's achievements can be seen in the above explanation of our activities. In general, we consider that the right balance has been struck between the different activities which we have carried out during the year, and which ensure that the Trust funds are used in the most effective and appropriate manner in fulfilling our obligations under the terms of the Trust Deed.
Trustees
Adam Munthe Edward Moffatt Michael Cooper
Review of financial position
The Statement of Financial Activities, which follows the independent examiner's report, shows that there was a surplus in net incoming/(outgoing) resources of £10,631 compared to a surplus in 2021 of £1,868.
This year’s surplus is due to the difference in timing between the receipt of funds from donors for activities supported by the Trust, and the transfer of those donations to the beneficiaries, which did not take place until after the financial year-end. The level of funds actually sent to beneficiaries in the year was £19,295 compared to £15,450 in 2021, this despite an increase in support costs due to work carried out to repair damage caused by a water leak.
At the balance sheet date, the total funds of the charity were £19,154 (2021: £8,523).
Investment policy
Under the charity Trust Deed, the Trustees have the authority to invest the funds of the charitable trust at their discretion.
Reserves policy
It is the policy of the Trustees that unrestricted funds which have not been designated for a specific use should be maintained at a level that will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised.
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Risk Factors
The Trustees regularly examine the major strategic business and operational risks which the charity faces and confirm that systems have been established to ensure that necessary steps are taken to lessen the effect of such risks.
Plans for the future
The charity Trust continues to sponsor and support students and projects from all over the world whose areas of research accord with its principles of collaboration and mutual understanding.
Trustees' responsibilities in relation to the financial statements
The Trustees are responsible for preparing the Trustees’ Report and annual accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity Trust for that year. In preparing the financial statements the Trustees are required to follow best practice and 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 financial regulations applicable to charities;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity, which enable them to ascertain the financial position of the charity, and which ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. 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.
A Munthe Trustee
29th November 2022
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THE EAST WEST EDUCATIONAL TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE FINANCIAL STATEMENTS OF THE EAST WEST EDUCATIONAL TRUST FOR THE YEAR ENDED 31 MARCH 2022
I report on the financial statements of the charity for the year ended 31 March 2022, which are as set out on pages 7-10.
Respective responsibilities of Trustees and examiner
The Trustees are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 financial statements, 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, no opinion is given as to whether the financial statements present a 'true and fair' view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(ii) to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
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b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Name: Andrew Kean FCCA Relevant professional body: Association of Chartered Certified Accountants Address: 46 Offington Avenue Worthing West Sussex BN14 9PJ Date: 29th November 2022
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THE EAST WEST EDUCATIONAL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2022
| Notes Incoming resources Donations and similar incoming resources 2 Total incoming resources Charitable expenditure Resources expended Donations Support costs (see note 3 on page 10 for details) 3 Total resources expended Net incoming / (outgoing resources) Net movement in funds Fund balances at 1 April 2021 Fund balances at 31 March 2022 |
2022 £ 39,290 39,290 19,295 9,364 28,659 10,631 10,631 8,523 19,154 |
2021 £ 22,766 |
|---|---|---|
| 22,766 | ||
| 15,450 5,448 |
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| 20,898 | ||
| 1,868 | ||
| 1,868 6,655 |
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| 8,523 |
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THE EAST WEST EDUCATIONAL TRUST
BALANCE SHEET
AS AT 31 MARCH 2022
| Notes Current assets Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year Net current assets Income funds Unrestricted funds |
2022 £ 19,154 - 19,154 19,154 19,154 |
2021 £ 8,523 |
|---|---|---|
| - | ||
| 8,523 | ||
| 8,523 | ||
| 8,523 |
The financial statements were approved by the Trustees on 29th November 2022
A Munthe Trustee
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THE EAST WEST EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention and 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 102 (FRS102), and the Charities Act 2011 and applicable regulations.
Incoming resources
All incoming resources are accounted for on a receivable basis, and have been included gross. Income is recognised once the Charity has entitlement to it, there is sufficient certainty of receipt and it is therefore probable that the income will be received, and the amount of income receivable can be measured reliably.
Resources expended
All resources expended are recognised in the period in which they are incurred and are allocated to the applicable expenditure headings in the financial statements. Resources expended include attributable VAT which cannot be recovered.
Donations
Donations are paid at the discretion of the Trustees and, as such, are charged in the year paid.
The Trustees support a wide range of charities. However, because of existing commitments they may not entertain unsolicited appeals.
2. Donations and similar incoming resources
| 2. Donations and similar incoming resources | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Donations received | 39,290 | 22,766 |
| 39,290 | 22,766 |
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3. Total resources expended
| 3. Total resources expended | |
|---|---|
| Charitable expenditure: Donations Support costs: - Accommodation expenses (light, heat, cleaning) - Telephone and internet Repairs and maintenance - Legal and professional - Other Total |
2022 2021 £ £ 19,29515,450 4,4653,072 9061,121 3,9771,093 - - 16 162 9,364 5,448 28,65920,898 |
4. Trustees
None of the Trustees received any remuneration or had expenses reimbursed during the year.
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