Charity number: 1097209
THE CYRIL & EVE JUMBO CHARITABLE TRUST
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
THE CYRIL & EVE JUMBO CHARITABLE TRUST
| CONTENTS | |
|---|---|
| Page | |
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 18 |
THE CYRIL & EVE JUMBO CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2023
| Trustees | G A Margolis, Chair |
|---|---|
| R A Hayat | |
| L Margolis | |
| E Engulu | |
| Charity registered number 1097209 Principal office 1st Floor 48 Great Marlborough Street London W1F 7BB Independent Examiner Jake Lew FCA BKL Audit LLP 35 Ballards Lane London N3 1XW Bankers Cannacord Genuity 88 Wood Street London EC2V 7QR Natwest 1 Princess Street London EC2R 8BP |
Page 1
THE CYRIL & EVE JUMBO CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2023
The Trustees present their annual report together with the financial statements of the The Cyril & Eve Jumbo Charitable Trust for the year 6 April 2022 to 5 April 2023. The Trustees have adopted the provisions of 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) (effective 1 January 2019).
Objectives and activities
a. Policies and objectives
-
The objectives of the charity as per its governing document are:
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For such exclusively charitable objects or purposes in any part of the world as the Trustees may in their discretion think fit.
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)'.
b. Activities undertaken to achieve objectives
The Charity undertakes to give grants in line with its governing document to any other charity as the Trustees see fit..
c. Main activities undertaken to further the Charity's purposes for the public benefit
The activity of grant making to other charitable entities as decided by the Trustees furthers the Charity's purposes for the public benefit.
d. Investment decisions
The Trustees make investment decisions which balance the protection of the Trust's capital and generating sufficient investment income. Risks are mitigated by the appointment of professional managing agents to manage the investment properties and professional wealth managers to advise and manage the investment of funds in bonds and other securities.
e. Grantmaking decisions
Grants are awarded to charities and causes which are known to the trustees or have been recommended to them by trusted colleagues. The trustees direct charitable awards and grants toward known causes and where outcomes are measurable. Feedback and follow-ups are always requested from the recipient Charities and where possible visits from the trustees are carried out to assess the outcomes and ensure awards are being used for the intended purpose.
f. Grant making policy
Applications can be submitted to the Trustees by charitable institutions and these applications are considered by the Trustees on a regular basis. Applications should be in writing and incorporate full details of the Charity and the cause for which funding is requested.
Achievements and performance
Page 2
THE CYRIL & EVE JUMBO CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
Achievements and performance (continued)
a. Main achievements of the Charity
The Trustees have continued to support other charities as per it's Trust Deed and there are no immediate plans to alter the way in which the income is applied to charitable causes. Donations totalling £344,631 were made in the year (2022: £310,099).
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
All of the charity's funds held at 5 April 2023 amounted to £1,765,858 (2022: £1,882,628) are general unrestricted funds which are expendable at the discretion of the Trustees in furtherance of the objectives of the charity.
As the charity does not currently seek funding but uses its resources to provide funding for the furtherance of its objectives, it is the Trustees' policy to maintain the charity's reserves at a sufficient level to enable it to continue to provide such funding in future years. This is monitored on a regular basis by the Trustees, who review the level of reserves in the light of future funding requirements.
The Trust's investment properties are managed by METRUS in consultation with the Trustees. The Trustees agreed that there had been no material change in the properties' values and therefore kept them at the values agreed at 5 April 2015 revaluation.
c. Future plans
The Trustees intend to continue providing grants in a similar way to the recent past but retaining flexibility as to the timing and scale of grant making.
Structure, governance and management
a. Constitution
The Cyril & Eve Jumbo Charitable Trust is a registered charity, number 1097209, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
Trustees are recruited to ensure that there is an appropriate range of skills and experience on the board. When a new trustee is appointed they are referred to Charity Commission Guidance on becoming a trustee and are also introduced to the policies, procedures and systems within the charity.
Page 3
THE CYRIL & EVE JUMBO CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
Statement of Trustees' responsibilities
The Trustees 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).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its 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 of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) 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 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
RAHayat
................................................ R A Hayat (Trustee) Date: 12 October 2023
Page 4
THE CYRIL & EVE JUMBO CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2023
Independent Examiner's Report to the Trustees of The Cyril & Eve Jumbo Charitable Trust ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 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
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:
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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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Jake Lew Signed:
Dated: 12 October 2023
Jake Lew FCA
BKL Audit LLP 35 Ballards Lane London N3 1XW
Page 5
THE CYRIL & EVE JUMBO CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities 7 Total expenditure Net expenditure before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 161,851 84,769 246,620 351,422 351,422 (104,802) (11,968) (116,770) 1,882,628 (116,770) 1,765,858 |
Total funds 2023 £ 161,851 84,769 246,620 351,422 351,422 (104,802) (11,968) (116,770) 1,882,628 (116,770) 1,765,858 |
Total funds 2022 £ 102,087 84,741 186,828 326,581 326,581 (139,753) 13,682 (126,071) 2,008,699 (126,071) 1,882,628 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 18 form part of these financial statements.
Page 6
THE CYRIL & EVE JUMBO CHARITABLE TRUST
BALANCE SHEET AS AT 5 APRIL 2023
| Note Fixed assets Investments 11 Investment property 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current liabilities / assets Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
309,466 55,005 364,471 (711,672) |
2023 £ 642,834 1,470,225 2,113,059 (347,201) 1,765,858 - 1,765,858 1,765,858 |
257,419 57,777 315,196 (3,567) |
2022 £ 100,774 1,470,225 |
|---|---|---|---|---|
| 1,570,999 311,629 |
||||
| 1,882,628 | ||||
| - 1,882,628 |
||||
| 1,882,628 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
RAHayat
................................................
R A Hayat (Trustee) Date: 12 October 2023
The notes on pages 8 to 18 form part of these financial statements.
Page 7
THE CYRIL & EVE JUMBO CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
1. General information
The Cyril & Eve Jumbo Charitable Trust is an unincorporated charity that was registered with the charity commission on the 25th April 2003.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Cyril & Eve Jumbo Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 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.
2.3 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
2.4 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.
2.5 Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Page 8
THE CYRIL & EVE JUMBO CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
2. Accounting policies (continued)
2.6 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.
2.7 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.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.10 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.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Donations | 161,851 | 161,851 |
Page 9
THE CYRIL & EVE JUMBO CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
3. Income from donations and legacies (continued)
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2022 | 2022 | |
| £ | £ | |
| Donations | 102,087 | 102,087 |
4. Investment income
| Unrestricted funds 2023 £ Rents received 80,649 Interest 4,120 84,769 Unrestricted funds 2022 £ Rents received 80,465 Interest 4,276 84,741 Analysis of grants Grants to Institutions 2023 £ Supporting good causes 344,631 |
Total funds 2023 £ 80,649 4,120 |
|---|---|
| 84,769 | |
| Total funds 2022 £ 80,465 4,276 |
|
| 84,741 | |
| Total funds 2023 £ 344,631 |
5. Analysis of grants
Page 10
THE CYRIL & EVE JUMBO CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
5. Analysis of grants (continued)
| Grants to Institutions 2022 £ Supporting good causes 310,099 The Charity has made the following material grants to institutions during the year: 2023 £ Name of institution Action for Kids 31,170 ASPIRE 17,200 Literacy Pirates 30,000 Promise Works 27,500 Send a Cow 15,000 World Jewish Relief 38,750 Collage Arts 13,590 Finchley Jewish Primary School Trust 20,000 Forest School Camp 15,481 Jewish Care 22,534 MSF 15,000 St Mungo 10,399 TZEDEK 12,500 Lymphoma Action 7,500 ENT UK 10,000 JW3 Development 5,000 Scene & Heard 5,000 Ahmadiyya Muslim Association United Kingdom 10,000 Humanity First UK 11,000 Grief Encounter 7,475 325,099 Other grants to institutions 19,532 344,631 |
Total funds 2022 £ 310,099 |
|---|---|
| 2022 £ 41,560 17,200 30,000 10,000 15,000 52,500 4,530 - 5,000 30,174 15,000 5,135 35,000 - - - - - 5,000 - |
|
| 266,099 44,000 |
|
| 310,099 |
Page 11
THE CYRIL & EVE JUMBO CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
6. Other grants to institutions
| Adele School for Special Children Chabad Lubavitch Centre NE London and Essex Limited Chabad Lubavitch UK Food Bank Aid Jackson’s Lane Norwood Ravenswood Pembroke Road Church Prostate Cancer UK St John Hospice Antigua Target Ovarian Cancer The Christie Charitable Fund The Little Princess Trust The Save The Children Fund Victa Children Ltd Kids Access Sport CIO Alzheimers Society Chilterns MS Centre Circle Community Ltd Community Security Trust Friends of the Earth Charitable Trust Future Dreams Trust Limited Great Ormond Street Hospital Children's Charity Happiness Eastern European Community - Slava Ukraini Limited The Connection at St Martin-in-the-Fields Scinergise Cancer Research UK Prism The Gift Fund |
2023 £ 3,120 1,000 1,000 1,000 2,500 4,233 200 500 3,150 1,000 200 129 500 500 500 - - - - - - - - - - - - - 19,532 |
2022 £ - 1,000 2,000 - 2,300 16,700 - - - - - - - - - 500 2,000 4,550 1,000 2,000 200 1,000 350 2,000 6,800 600 500 500 |
|---|---|---|
| 44,000 |
Page 12
THE CYRIL & EVE JUMBO CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
7. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2023 £ Supporting good causes 351,422 Unrestricted funds 2022 £ Supporting good causes 326,581 |
Total 2023 £ 351,422 |
|---|---|
| Total 2022 £ 326,581 |
8. Analysis of expenditure by activities
| Supporting good causes Supporting good causes |
Grant funding of activities 2023 £ 344,631 Grant funding of activities 2022 £ 310,099 |
Support costs 2023 £ 6,791 Support costs 2022 £ 16,482 |
Total funds 2023 £ 351,422 |
|---|---|---|---|
| Total funds 2022 £ 326,581 |
Page 13
THE CYRIL & EVE JUMBO CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
8. Analysis of expenditure by activities (continued)
Analysis of support costs
| Legal and professional fees Governance costs Bank Charges Others |
Supporting good causes 2023 £ 2,484 1,850 197 2,260 6,791 |
Total funds 2023 £ 2,484 1,850 197 2,260 |
|---|---|---|
| 6,791 |
Governance costs are comprised entirely of the independent examination fee for the year.
| Insurance Legal and professional fees Independent Examiner Repair & Maintenance Bank Charges 9. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the preparation and independent examination of the Charity's annual accounts |
Supporting good causes 2022 £ 651 6,691 1,850 7,085 205 16,482 2023 £ 1,850 |
Total funds 2022 £ 651 6,691 1,850 7,085 205 |
|---|---|---|
| 16,482 | ||
| 2022 £ 1,850 |
Page 14
THE CYRIL & EVE JUMBO CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 5 April 2023, no Trustee expenses have been incurred (2022 - £NIL) .
11. Fixed asset investments
| Cost or valuation At 6 April 2022 Additions Disposals Revaluations At 5 April 2023 Net book value At 5 April 2023 At 5 April 2022 12. Investment property Valuation At 6 April 2022 At 5 April 2023 |
Unlisted investments £ - 39,995 - - 39,995 39,995 - |
Listed investments £ 100,774 578,480 (54,397) (22,018) 602,839 602,839 100,774 |
Total £ 100,774 618,475 (54,397) (22,018) 642,834 642,834 100,774 Freehold investment property £ 1,470,225 1,470,225 |
|---|---|---|---|
The property was valued in 2016 by a qualified professional and the Trustees deem that the value of the property has not materially changed since then.
Page 15
THE CYRIL & EVE JUMBO CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
13. Debtors
| Due within one year Amounts owed by group undertakings Other debtors Accrued income VAT recoverable |
2023 £ 247,877 12,716 19,851 29,022 309,466 |
2022 £ 221,335 14,922 21,162 - |
|---|---|---|
| 257,419 |
14. Creditors: Amounts falling due within one year
| Amounts owed to group undertakings Other creditors Accruals and deferred income |
2023 £ 708,967 312 2,393 711,672 |
2022 £ - - 3,567 |
|---|---|---|
| 3,567 |
Amount owed to group undertaking is payable to JumboLand Properties Inc. in respect of loan taken during the year. This loan is unsecured, interest free and payable on demand.
Page 16
THE CYRIL & EVE JUMBO CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
15. Statement of funds
Statement of funds - current year
| Balance at 6 | Balance at 6 | Gains/ | Balance at 5 | |||
|---|---|---|---|---|---|---|
| April 2022 | Income | Expenditure | (Losses) | April 2023 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General Funds | 1,882,628 | 246,620 | (351,422) | (11,968) | 1,765,858 | |
| Statement of funds - prior year | ||||||
| Balance at | Gains/ | Balance at | ||||
| 1 | April 2021 | Income | Expenditure | (Losses) | 5 April 2022 | |
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General Funds - all funds | 2,008,699 | 186,828 | (326,581) | 13,682 | 1,882,628 | |
| Summary of funds | ||||||
| Summary of funds | - current year | |||||
| Balance at 6 | Gains/ | Balance at 5 | ||||
| April 2022 | Income | Expenditure | (Losses) | April 2023 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 1,882,628 | 246,620 | (351,422) | (11,968) | 1,765,858 | |
| Summary of funds | - prior year | |||||
| Balance at | Gains/ | Balance at | ||||
| 1 | April 2021 | Income | Expenditure | (Losses) | 5 April 2022 | |
| £ | £ | £ | £ | £ | ||
| General funds | 2,008,699 | 186,828 | (326,581) | 13,682 | 1,882,628 |
16. Summary of funds
Page 17
THE CYRIL & EVE JUMBO CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
17. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Fixed asset investments 642,834 Investment property 1,470,225 Current assets 364,471 Creditors due within one year (711,672) Total 1,765,858 |
Total funds 2023 £ 642,834 1,470,225 364,471 (711,672) 1,765,858 |
|---|---|
Analysis of net assets between funds - prior year
| Fixed asset investments Investment property Current assets Creditors due within one year Total |
Endowment funds 2022 £ (221,335) - 221,335 - - |
Unrestricted funds 2022 £ 322,109 1,470,225 93,861 (3,567) 1,882,628 |
Total funds 2022 £ 100,774 1,470,225 315,196 (3,567) 1,882,628 |
|---|---|---|---|
18. Related party transactions
JumboLand Properties Inc. and Seven Dunes Ltd. are related parties by virtue of the fact that they are subject to 100% direct and indirect ownership by The Cyril & Eve Jumbo Charitable Trust.
Included within creditors is an amount owed to JumboLand Properties Inc in respect of loan taken to the value of £708,967 (2022: nil). This loan is unsecured, interest free and payable on demand.
Included within debtors is £232,781 (2022: £221,335) owed from Jumbo Land Properties Inc.
Included within debtors is £15,096 (2022: Nil) owed from Seven Dunes Ltd.
Page 18
The Cyril & Eve Jumbo Charitable Trust
1[st] Floor, 48 Great Marlborough Street, London W1F 7BB
Date: 12 October 2023
Berg Kaprow Lewis LLP 35 Ballards Lane London N3 1XW
Dear Sirs
The Cyril and Eve Jumbo Charitable Trust
We confirm to the best of our knowledge and belief, and having made appropriate enquiries of other trustees and officials of the Charity, the following representations in connection with your report on the Charity's financial statements for the year ended 5 April 2023.
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We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with Auditing Standards and that you do not express an audit opinion.
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We confirm that the Charity was entitled to exemption from the requirement to have its financial statements for the financial year audited.
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We have fulfilled as trustees our responsibility for the financial statements which give a true and fair view in accordance with the requirements of the Charities Act 2011 and which otherwise comply with the requirements of that Act relating to financial statements, so far as applicable to the Charity. All the accounting records have been made available to you and all transactions undertaken by the Charity have been properly reflected in those accounting records. All records and related information, including the minutes of the trustees’ and members’ meetings have been made available to you.
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We confirm that we have maintained proper accounting records, as required by the Charities Act 2011.
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We confirm, to the best of our knowledge and belief, that there have been no instances of non-compliance or breaches of any laws or regulations which are essential to the activities of the Charity’s activities.
Registered charity no. 1097209
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We confirm that assets are included on the balance sheet at no more than their recoverable amounts and that liabilities are included at their expected cost to the Charity.
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We confirm that we are not aware of any pending litigation which may result in a significant loss to the Charity.
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We confirm that there were no contingent liabilities at the balance sheet date.
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We believe that the Charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding and support will be more than adequate for the Charity's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the Charity's ability to continue as a going concern need to be made in the financial statements.
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We confirm that there were no transactions with related parties of the Charity or amounts due to or from related parties at the balance sheet date which are required to be disclosed in the financial statements other than those which are detailed in the notes to the financial statements.
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We confirm that there have been no events since the balance sheet date which necessitate revision of the figures included in the financial statements or disclosure in the notes to the financial statements. Should further material events occur, which may necessitate revision of the figures included in the financial statements or inclusion of a note thereto, we will advise you accordingly.
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All grants, donations and other monies, the receipt of which is subject to specific terms or conditions, have been properly recorded in the financial statements as restricted funds.
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We confirm that all grants paid out during the year were to entities with no connections to any of the Trustees.
Yours faithfully
RAHayat
Signed on behalf of the Board of Trustees
The Cyril and Eve Jumbo Charitable Trust
PAGE 2 OF 2
The Cyril & Eve Jumbo Charitable Trust - 2023 Accounts Pack
Final Audit Report
2023-10-14
Created: 2023-10-12 By: Jake Lew (Jake.Lew@bkl.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAu-ZS5n_4JIEJW9yQ7lZ1oiKdeRWe96xU
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Document e-signed by Jake Lew (Jake.Lew@bkl.co.uk)
Signature Date: 2023-10-14 - 15:31:53 GMT - Time Source: server
- Agreement completed.
2023-10-14 - 15:31:53 GMT