**CHARITY REGISTRATION NUMBER: 1098137** ## **THE JACOB AND HANNAH MARKS RICHARDSON FAMILY TRUST** ## **UNAUDITED FINANCIAL STATEMENTS** **31 JULY 2024** **THE JACOB AND HANNAH MARKS RICHARDSON FAMILY TRUST** ## **FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2024** ||**PAGES**| |---|---| |Trustees' annual report|**1 to 2**| |Independent examiner's report to the trustees|**3**| |Statement of financial activities|**4**| |Statement of financial position|**5**| |Notes to the financial statements|**6 to 11**| **THE JACOB AND HANNAH MARKS RICHARDSON FAMILY TRUST** ## **TRUSTEES' ANNUAL REPORT** ## **YEAR ENDED 31 JULY 2024** The trustees present their report and the unaudited financial statements of the charity for the year ended 31 July 2024. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered charity name** The Jacob And Hannah Marks Richardson Family Trust **Charity registration number** 1098137 **Principal office** 58 Anthony Road Borehamwood Herts WD6 4NG ## **THE TRUSTEES** Mr E H Cohen Mr J Steinhaus ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Jacob and Hannah Marks Richardson Family Trust is a registered charity constituted by Deed of Trust. The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial interest in the charity and no benefits or expenses were paid in the period. 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 training and induction procedures. ## **Risk management** The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks. ## **OBJECTIVES AND ACTIVITIES** The charity was established for the advancement and furtherance of the Orthodox Jewish religion, the advancement of education for the public benefit, and the alleviation of poverty throughout the world. The furtherance of such other objects that are exclusively charitable under the law of England and Wales as the Trustees may from time to time determine. The charity's principal activity throughout the year was the provision and distribution of donations and grants. The charity aims to maximise its grants and donations on an annual basis. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. ## **Grant making policy** The trustees are approached for donations by a wide variety of charitable institutions operating all over England. The trustees consider all requests which they receive and make donations based on level of funds available. **- 1 -** THE JACOB AND HAIYNAH MARKS RICHARDSON FAMtLY TRUST TRUSTEESI ANNUAL REPORT(uthud) YEAR ENDED 31 JULY 2024 AC￿vEmENTs AND PERFORMANCE During the y¢ar the cFthrity tDad¢ wts and donations of £31.450. The benefits that these grants attd donations PTovide include the provision of basic nec¢55ities and financial supwt to the poor, the relief of suffering ia r¢gard to illness and disabillties. Jewish eth￿tIOn and places of worship for the Jewish cornmunity. Reserves Pollcy The trustees are mindfid of the instructi0tt8 Yeceived from th¢ Latr Mr R RAclwd8on ar￿ Mr8 E Marwvitsh to retaiti the majority of th¢ wiitsl which was repres￿ by their residuary Estate5. It is th¢ policy of the ¢P￿lty to maintsin unrestricted funds at a level wbich the trustees consider appropriate after taknng aGwunt of the futur¢ ci)ll]mitments of the clwity. As at 31 July 2024 the charity bad Unrestricted FuDdq of £713,931 (2023: £719,633). PLANS FOR FtrruRE PEIUODS The ttustees plan to continue to make d1stn￿Utiolls its accordance with their graDt ti￿l￿g policy and to The tru8tee8' annual report was approved on 18 D￿llber 2024. and Sign￿ on behalf of the board of tr￿tee8 by.. MrEHCoh Tn￿tee Mr J Steinl THE JACOB AND HANNAH MARKS RICHARDSON FAMILY TRUST INDEPENDENf EXAMINER'S REPORT TO THE TRUSTEFS OF TRE JACOB YEAR EIYDED 31 JULY 2024 I report to the trustees on iny examination of ihe financial ststements of The Jacob And H8nnah Marks Richardson Family Trust ('th¢ charity,) for the year ended 31 July 2024. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of the charity you are responsible for the preparation of ihe financial staiemenls in a¢¢ordance with the requir¢m¢nts of the Charities Act 2011 ('the Act,). I report in respect of Tny examination of th¢ charity's financial slalem¢nts carried out under s¢¢tion 145 of the 201 l Act and in carrying out my examinatloll I have followed all the applicable Directions given by the Charity Commission llnder section 145(5)(b) of th¢ Act. INDEPENDENT EXAMINER'S STATEMENT In connection with my examination, no rnatterhas come to my attention which giv¢s me ¢au5¢ to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act,. or the accounts did not accord wilh the accounting records: or the account5 did not comply with the applicable requirements ¢oncerning the forni and Content of accounts s¢t out in the Charities (A¢¢ounts and Reports) Regulations 2(ffJ8 other than any requirement that th¢ accounts give a'true and fair, view which is not a matter considered as part of an independent examination. I have come across no other matters in connection with ihe examination to which altenlion should be drdwn n this report in order to enable a proper und¢rstsnding of the accounts to be rea¢h¢d. Doy arris FCA Independeni BxamineT Cohen Arnold New Burlington Hous¢ 1075 Finchley Road London NWI I OPU 18 December 2024 ## **THE JACOB AND HANNAH MARKS RICHARDSON FAMILY TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **YEAR ENDED 31 JULY 2024** |||**2024**||2023| |---|---|---|---|---| |||Unrestricted||| |||funds**Total funds**||Total funds| ||**Note**|**£**|**£**|£| |**Income and endowments**||||| |Investment income|**4**|27,297|**27,297**|18,036| |||-------------------------------|-------------------------------|-------------------------------| |**Total income**||27,297|**27,297**|18,036| |||===============================|===============================|===============================| |**Expenditure**||||| |Expenditure on raising funds:||||| |Investment management costs|**5**|–|**–**|(12,151)| |Expenditure on charitable activities|**6,7**|(32,999)|**(32,999)**|(25,891)| |||-------------------------------|-------------------------------|-------------------------------| |**Total expenditure**||(32,999)|**(32,999)**|(38,042)| |||===============================|===============================|===============================| |||-------------------------------|-------------------------------|-------------------------------| |**Net expenditure and net movement in funds**||(5,702)|**(5,702)**|(20,006)| |||===============================|===============================|===============================| |**Reconciliation of funds**||||| |Total funds brought forward||719,633|**719,633**|739,639| |||-------------------------------------|-------------------------------------|-------------------------------------| |**Total funds carried forward**||713,931|**713,931**|719,633| |||=====================================|=====================================|=====================================| 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 6 to 11 form part of these financial statements.** **- 4 -** E JACOB AND HANNAH MARKS RtCHARDSON FAMILY TRUST STATEMENT OF FINAIYCIAL POSITION 31 JULY 2024 2024 2023 Nole Fixed Mjets InvestDKnt pro Current assets D¢btors Cash at bank and in h li 594JlS 594,905 12 250 131187 13V37 147,568 147.568 Credhors: amounts falling due wlthln one year Net ￿rrent auets 13 (19,411) (U840) 119.026 124,728 719,633 Total assets Jess ¢urremt Uabi]fiknes 711931 FuDd8 of the charlty UntestrACted funds 713,931 713,931 719.633 Totsl chArity funds 14 719,633 These firwi¢iai statements were approved by the board of trustees and auth￿l5¢d for issue on 18 December 2024. and ar¢ signed on behalf of the iM)Ard by: MrEHCohe J Stein1￿ Tr note1￿ 6 to 11 f•rni plrt ofth¢*fitt￿d￿I $t**meDt **THE JACOB AND HANNAH MARKS RICHARDSON FAMILY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2024** ## **1. GENERAL INFORMATION** The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 58 Anthony Road, Borehamwood, Herts, WD6 4NG. ## **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 Charities Act 2011. ## **3. ACCOUNTING POLICIES** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, except that investment property is measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Public benefit entity** The charity meets the definition of a public benefit entity under FRS 102. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Judgements and key sources of estimation uncertainty** Judgements made by the trustees, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are discussed below: ## **Property valuations** The charity's investment properties are valued by the trustees. The valuation of investment property is inherently subjective, depending on many factors, including the individual nature of the property, its location and expected future net rental value, market yields and comparable market transactions. Therefore the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commitment. There are no designated funds as at the Balance Sheet date. Restricted funds are subjected to restrictions on their expenditure declared by the donor. There are no restricted funds as at the Balance Sheet date. **- 6 -** **THE JACOB AND HANNAH MARKS RICHARDSON FAMILY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 JULY 2024** ## **3. ACCOUNTING POLICIES** _**(continued)**_ ## **Incoming resources** All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. ## **Resources expended** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is classified under headings of the statement of financial activities to which it relates. ## **Governance Costs** Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include costs of the preparation of the financial statements, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. ## **Investment properties** Investment property is property which is held either to earn rental income or for capital appreciation or for both. Investment property is recognised initially at cost. Subsequent to initial recognition: - Investment property whose fair value can be measured reliably without undue cost or effort is held at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise; and - No depreciation is provided in respect of investment property applying the fair value model. Investment property fair value is determined by the Trustees based on their understanding of the property market and having regard to many factors including the nature of the property, its location and expected future net rental values, market yields and comparable market transactions. ## **Acquisitions and disposals of property** Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly. **- 7 -** **THE JACOB AND HANNAH MARKS RICHARDSON FAMILY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 JULY 2024** ## **3. ACCOUNTING POLICIES** _**(continued)**_ ## **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. The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. 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. INVESTMENT INCOME** |**NVESTMENT INCOME**||||| |---|---|---|---|---| ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| ||Funds|**2024**|Funds|2023| ||£|**£**|£|£| |Income from investment properties|25,847|**25,847**|17,250|17,250| |Bank interest receivable|1,450|**1,450**|786|786| ||-------------------------------|-------------------------------|-------------------------------|-------------------------------| ||27,297|**27,297**|18,036|18,036| ||===============================|===============================|===============================|===============================| ## **5. INVESTMENT MANAGEMENT COSTS** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2024**|Funds|2023| ||£|**£**|£|£| |Property repairs and maintenance||||| |charges|–|**–**|12,151|12,151| ||================|================|===============================|===============================| **- 8 -** **THE JACOB AND HANNAH MARKS RICHARDSON FAMILY TRUST** **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 JULY 2024** ## **6. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2024**|Funds|2023| ||£|**£**|£|£| |Charitable donations|31,450|**31,450**|24,350|24,350| |Support costs|1,549|**1,549**|1,541|1,541| ||-------------------------------|-------------------------------|-------------------------------|-------------------------------| ||32,999|**32,999**|25,891|25,891| ||===============================|===============================|===============================|===============================| All grants were paid to institutions in support of the relief of poverty, the advancement of health, the advancement of Jewish religion and the advancement of Jewish religious education. Included in charitable activities are the following grants made during the year: **£** Institute for Higher Rabbinical Studies **6,000** Amounts less than £4,000 individually or in aggregate **25,450** ------------------------------Total **31,450** ## **7. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE** ||Grant|||| |---|---|---|---|---| ||funding of||**Total funds**|Total fund| ||activities|Support costs|**2024**|2023| ||£|£|**£**|£| |Charitable donations|31,450|
–|**31,450**|24,350| |Governance costs|–|
1,549|**1,549**|1,541| ||-------------------------------|--------------------------|-------------------------------|-------------------------------| ||31,450|
1,549|**32,999**|25,891| ||===============================|==========================|===============================|===============================| |**INDEPENDENT EXAMINATION FEES**||||| ||||**2024**|2023| ||||**£**|£| |Fees payable to the independent examiner for:||||| |Independent examination of the financial statements|||**1,200**
==========================|1,200
==========================| ## **8. INDEPENDENT EXAMINATION FEES** ## **9. STAFF COSTS** No salaries or wages have been paid to employees during the year. ## **10. TRUSTEE REMUNERATION AND EXPENSES** There was no remuneration paid to the trustees. The charity did not meet any individual expenses incurred by the trustees for services provided to the charity. **- 9 -** **THE JACOB AND HANNAH MARKS RICHARDSON FAMILY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 JULY 2024** ## **11. INVESTMENT PROPERTY** |**INVESTMENT PROPERTY**|| |---|---| ||**Freehold**| ||**property**| ||**£**| |**Fair value**|| |**At 1 August 2023 and 31 July 2024**|**594,905**| ||=====================================| |**Carrying amount**|| |**At 31 July 2024**|**594,905**| ||=====================================| |At 31 July 2023|594,905| ||=====================================| The charity's investment properties were valued by the trustees as at 31 July 2024 on the basis of market value. The historic cost of the charity's investment property is £594,797. ## **12. DEBTORS** |**12.**|**DEBTORS**||| |---|---|---|---| |||**2024**|2023| |||**£**|£| ||Trade debtors|**250**|–| |||================|================| |**13.**|**CREDITORS:** **amounts falling due within one year**||| |||**2024**|2023| |||**£**|£| ||Trade creditors|**5,855**|12,817| ||Other creditors|**13,556**|10,023| |||-------------------------------|-------------------------------| |||**19,411**
===============================|22,840
===============================| ## **14. ANALYSIS OF CHARITABLE FUNDS** ## **Unrestricted funds** |**Unrestricted funds**|||||| |---|---|---|---|---|---| |||At|||**At**| ||1|August|||**31 July**| |||2023|Income|Expenditure|**2024**| |||£|£|£|**£**| |General funds||719,633|27,297|(32,999)|**713,931**| |||=====================================|===============================|===============================|=====================================| |||At|||At| ||1|August|||31 July| |||2022|Income|Expenditure|2023| |||£|£|£|£| |General funds||739,639|18,036|(38,042)|719,633| |||=====================================|===============================|===============================|=====================================| **- 10 -** **THE JACOB AND HANNAH MARKS RICHARDSON FAMILY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 JULY 2024** ## **15. ANALYSIS OF NET ASSETS BETWEEN FUNDS** ||Unrestricted|**Total Funds**| |---|---|---| ||Funds|**2024**| ||£|**£**| |Investment property|594,905|**594,905**| |Current assets|138,437|**138,437**| |Creditors less than 1 year|(19,411)|
**(19,411)**| ||-------------------------------------|-------------------------------------| |**Net assets**|713,931|**713,931**| ||=====================================|=====================================| ||Unrestricted|Total Funds| ||Funds|2023| ||£|£| |Investment property|594,905|594,905| |Current assets|147,568|147,568| |Creditors less than 1 year|(22,840)|
(22,840)| ||-------------------------------------|-------------------------------------| |**Net assets**|719,633|719,633| ||=====================================|=====================================| **- 11 -**