**Charity Registration No. 1098326**
## **S & R CHARITABLE TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **S & R CHARITABLE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr S. Davis Mrs R. Davis Mr L.B. Rhodes **Charity number** 1098326 **Principal address** 14 Deacons Hill Road Elstree Herts 020 8953 5226 WD6 3LH **Independent examiner** David Passey ACA 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX
## **S & R CHARITABLE TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1|
|Independent examiner's report|2|
|Statement of financial activities|3|
|Balance sheet|4|
|Notes to the financial statements|5 - 9|
## **S & R CHARITABLE TRUST**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2021**_
The Trustees present their annual report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trust deed dated 24 February 2003, as amended by a deed dated 8 February 2016, the Charities Act 2011 and "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**
The objective of the Charity is to promote or further such charitable purposes or objects as the trustees shall from time to time determine, provided that nothing in the trust deed shall authorise the application of the whole or any part of the trust fund, otherwise than for the purposes which are charitable under the laws of England and Wales. The charity makes grants, loans and donations in accordance with the charity's objects as set out in the charity's trust deed.
## **Volunteers**
The charity has not made use of any volunteers during the year.
## **Achievements and performance**
The main achievement of the Charity in the year was to fulfill its objectives. The Trustees confirm that they have paid due regard to the public benefit guidance issued by the Charity Commission.
## **Financial review**
The Statement of Financial Activities on page 3 discloses the results for the year. The net movement in funds of the charity was £11,956 deficit (2020: £24,488 deficit).
The Balance Sheet on page 4 details the financial position of the charity and show net assets of £168,146 (2020: £180,102).
## **Reserve policy**
The trustees intend to maintain sufficient reserves, having regard to the expected timing of income and outgoings of donations, loans and grants.
## **Plans for future periods**
There have been no significant events affecting the Charity since the year end and no major future developments in the activities of the Charity are anticipated.
## **Structure, governance and management**
The Charity was formed under a Trust Deed dated 24 February 2003, as amended by a deed dated 8 February 2016. The Trustees administer the Charity on a day to day basis making whatever decisions they consider necessary to enable it to meet its objectives. The power to appoint new trustees is vested in the existing trustees.
The Trustees who served during the year and up to the date of signature of the financial statements were: Mr S. Davis
Mrs R. Davis Mr L.B. Rhodes
The Trustees report was approved by the Board of Trustees.
**Mr S. Davis** Trustee Dated: 26 January 2022
**Mrs R. Davis**
Trustee Dated:26 January 2022
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## **S & R CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF S & R CHARITABLE TRUST**
I report to the Trustees on my examination of the financial statements of S & R Charitable Trust (the charity) for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
## **David Passey ACA**
325-327 Oldfield Lane North Greenford Middlesex UB6 0FX
Dated: 26 January 2022
- 2 -
## **S & R CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2021**_
|||**Unrestricted Unrestricted**|**Unrestricted Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2021**|**2020**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations and legacies|**3**|116,527|90,125|
|Investments|**4**|163|912|
|**Total income**||116,690|91,037|
|**Expenditure on:**||||
|Charitable activities|**6**|128,646|115,525|
|**Net expenditure for the year/**||||
|**Net movement in funds**||(11,956)|(24,488)|
|Fund balances at 1 April 2020||180,102|204,590|
|**Fund balances at 31 March 2021**||168,146|180,102|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 3 -
## **S & R CHARITABLE TRUST**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2021**_
|**Notes**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
**11**
Net current assets
**Income funds**
Unrestricted funds
General unrestricted funds
**12**|**2021**
**£**
25,000
145,595
170,595
(2,449)
168,146|**£**
168,146
168,146
168,146|**2020**
**£**
25,000
156,602
181,602
(1,500)
180,102|**£**
180,102|
|---|---|---|---|---|
|||||180,102|
|||||180,102|
The financial statements were approved by the Trustees on 26 January 2022
Mr S. Davis **Trustee**
Mrs R. Davis **Trustee**
- 4 -
## **S & R CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **Charity information**
The Charity is an unincorporated Trust which was formed under a Trust Deed dated 24 February 2003, as amended by a deed dated 8 February 2016. The Trustees administer the Charity on a day to day basis making whatever decisions they consider necessary to enable it to meet its objectives. The power to appoint new trustees is vested in the existing trustees. The address of the principal office is 14 Deacons Hill Road, Elstree, Herts, WD6 3LH.
## **1.1 Accounting convention**
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to support the current level of expenditure and to continue in operational existence for the foreseeable future. The trustees have, however, recognised that, due to the impact of COVID-19, there has been a significant impact on the activities of the charity. The trustees are committed to supporting the charity and will continue to evaluate the situation on an ongoing basis and to develop plans for the charity to manage the financial impact going forward.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity.
Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
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.
- 5 -
## **S & R CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Donations and gifts|116,527|90,125|
- 6 -
## **S & R CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**3**
**Donations and legacies**
**(Continued)**
**Donations and gifts**
Donations
75,000
90,125
HMRC Charities Gift Aid
41,527
-
116,527
90,125
**4**
**Investments**
**Unrestricted** Unrestricted
**funds**
funds
**2021**
2020
**£**
£
Interest receivable
163
912
**5**
**Charitable activities**
**2019**
**2019**
**2021**
**2020**
**£**
**£**
Grant funding of activities (see note 6)
126,583
113,267
Share of support costs (see note 7)
1,113
1,058
Share of governance costs (see note 7)
950
1,200
128,646
115,525|**3**
**Donations and legacies**
**(Continued)**
**Donations and gifts**
Donations
75,000
90,125
HMRC Charities Gift Aid
41,527
-
116,527
90,125
**4**
**Investments**
**Unrestricted** Unrestricted
**funds**
funds
**2021**
2020
**£**
£
Interest receivable
163
912
**5**
**Charitable activities**
**2019**
**2019**
**2021**
**2020**
**£**
**£**
Grant funding of activities (see note 6)
126,583
113,267
Share of support costs (see note 7)
1,113
1,058
Share of governance costs (see note 7)
950
1,200
128,646
115,525|**3**
**Donations and legacies**
**(Continued)**
**Donations and gifts**
Donations
75,000
90,125
HMRC Charities Gift Aid
41,527
-
116,527
90,125
**4**
**Investments**
**Unrestricted** Unrestricted
**funds**
funds
**2021**
2020
**£**
£
Interest receivable
163
912
**5**
**Charitable activities**
**2019**
**2019**
**2021**
**2020**
**£**
**£**
Grant funding of activities (see note 6)
126,583
113,267
Share of support costs (see note 7)
1,113
1,058
Share of governance costs (see note 7)
950
1,200
128,646
115,525|
|---|---|---|
||||
||||
||||
||**2019**|**2019**|
||**2021**
**£**
126,583
1,113
950
128,646|**2020**
**£**
113,267
1,058
1,200|
|||115,525|
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## **S & R CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**6**
**Grants payable**
Camp Simcha
Chabad Lubavitch UK
Chai-Lifeline Cancer Care
Finchley Jewish Primary School Trust
Hospice UK
H. Stepic CEE Charity
The Independent Jewish Day School Foundation
Jewish Care
The E Trust
Yad Halevi Charitable Trust
United Synagogue
Other <£2,000
Grants to individuals
Hasmonean High School Charitable Trust
The Amud Hatzdokoh Trust
Community Concern London
**7**
**Support costs**
Bank charges
Accountancy fees
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
1,113
-
-
950
1,113
950
1,113
950|35,055
30,000
2,000
9,000
-
-
9,450
2,000
4,500
2,500
450
22,828
-
4,950
2,500
1,350
126,583
**2021**
**£**
1,113
950
2,063
2,063|20,050
14,000
7,100
6,000
12,500
9,793
8,412
4,250
1,555
2,500
6,000
9,834
11,273
-
-
-|
|---|---|---|---|
||||113,267
2020
£
1,058
1,200|
||||2,258|
||||2,258|
## **8 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **9 Employees**
The average monthly number of employees during the year was:
||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
- 8 -
## **S & R CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**10**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**11**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2021**
**£**
25,000
**2021**
**£**
2,449|**2020**
**£**
25,000|
|---|---|---|
|||**2020**
**£**
1,500|
## **12 Unrestricted funds**
The income funds of the charity include the following unrestricted funds.
|||**Movement in funds**|**Movement in funds**|||
|---|---|---|---|---|---|
||**Balance at**|**Incoming**|**Resources**||**Balance at**|
||**1 April 2020**|**resources**|**expended**|**31**|**March 2021**|
||**£**|**£**|**£**||**£**|
|General funds|180,102|116,690|(128,646)||168,146|
||180,102|116,690|(128,646)||168,146|
|**Analysis of net assets between funds**||||||
||||**2021**||2020|
||||**£**||£|
|Fund balances at 31 March 2021 are represented by:||||||
|Current assets/(liabilities)|||168,146||180,102|
||||168,146||180,102|
## **13 Analysis of net assets between funds**
## **14 Related party transactions**
The total sum donated to the charity by the trustees and their connected charities was £75,000 (2020: £90,125).
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