**Charity registration number 1100973**
## **THE LEON & NAOMI BRENIG FAMILY TRUST**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **THE LEON & NAOMI BRENIG FAMILY TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr L Brenig Mrs N Brenig Mrs E Mozes **Charity number** 1100973 **Principal address** 29 Princes Park Avenue London NW11 0JR **Independent examiner** Michael Weissbraun, FCA Weissbraun Emanuel 220 The Vale London NW11 8SR NW11 8SR
## **THE LEON & NAOMI BRENIG FAMILY TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 9|
## **THE LEON & NAOMI BRENIG FAMILY TRUST**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 5 APRIL 2024**_
The trustees present their report and accounts for the year ended 5 April 2024.
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 Trust's [governing document], 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 objectives of the Charity, as established, continue unchanged, are to fulfil general charitable purposes, to prevent or relief of Poverty and to preserve mental & physical health of Individuals according to the tenets of the Orthodox Jewish faith.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
The activity of the charity is to fulfil the charity's objectives by obtaining charitable donations from companies related to the Trustees and families and rental income from the properties donated by the Trustees and families.
## **Achievements and performance Financial review**
In the period under review, the charity made a surplus of £59,832. (2023: £1,747,343).
It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## Risk management
The trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the Trust's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Structure, governance and management**
The charity is registered with the Charity Commissioners (No. 1100973) and constituted by Deed of Trust.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr L Brenig Mrs N Brenig Mrs E Mozes
## Recruitment policy
The Charity recognizes that an effective board of trustees is essential if the charity is to be effective in achieving its objects. The board therefore always looking for the representative of the people with whom the charity works and must have available to it all of the knowledge and skills required to run the charity. Currently, the Charity believe that the current board of trustees has the necessary skills to run the operations.
The day to day management is delegated to Mr Leon Brenig and supported by all other trustees.
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## **THE LEON & NAOMI BRENIG FAMILY TRUST**
## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2024**_
The trustees report was approved by the Board of Trustees.
## **Mr L Brenig**
Trustee Dated: 3 December 2024
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## **THE LEON & NAOMI BRENIG FAMILY TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE LEON & NAOMI BRENIG FAMILY TRUST**
## _**Grant for audit exemption**_
The independent examination report has been prepared instead of an audit (Regulation 31(f)). An audit dispensation, granted on 19 September 2024 for the Charity under Regulation 34(3)(b) of the Charities (Accounts and Reports) Regulations 2008. The dispensation is for the financial year ended 05 April 2024 only and allows an Independent Examination in place of an audit for this year.
## **Introduction**
I report to the trustees on my examination of the financial statements of The Leon & Naomi Brenig Family Trust (the Trust) for the year ended 5 April 2024.
## **Responsibilities and basis of report**
As the trustees of the Trust 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 Trust’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**
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 Trust 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.
Michael Weissbraun, FCA Weissbraun Emanuel 220 The Vale London NW11 8SR London NW11 8SR
Dated: 3 December 2024
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## **THE LEON & NAOMI BRENIG FAMILY TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 5 APRIL 2024**_
|||**Unrestricted **|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2024**|**2023**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations and legacies|**3**|75,000|1,807,124|
|Investments|**4**|110,743|31,472|
|**Total income**||185,743|1,838,596|
|**Expenditure on:**||||
|Charitable activities|**5**|125,911|91,252|
|**Net income for the year/**||||
|**Net movement in funds**||59,832|1,747,344|
|Fund balances at 6 April 2023||2,257,802|510,458|
|**Fund balances at 5 April 2024**||2,317,634|2,257,802|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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## **THE LEON & NAOMI BRENIG FAMILY TRUST**
## **BALANCE SHEET**
## _**AS AT 5 APRIL 2024**_
|**Notes**
**Fixed assets**
Investment property
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**12**
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**13**
**Net assets**
**Income funds**
Unrestricted funds|**2024**
**£**
**£**
1,799,000
5,000
522,244
527,244
(1,200)
526,044
2,325,044
(7,410)
2,317,634
2,317,634
2,317,634|**2023**
**£**
**£**
1,799,000
-
467,747
467,747
(1,167)
466,580
2,265,580
(7,778)
2,257,802
2,257,802
2,257,802|
|---|---|---|
The financial statements were approved by the Trustees on 3 December 2024
Mr L Brenig **Trustee**
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## **THE LEON & NAOMI BRENIG FAMILY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 5 APRIL 2024**_
## **1 Accounting policies**
## **Charity information**
The Leon & Naomi Brenig Family Trust is a Charity, incorporated by trust deed.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Trust's trust deed, 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)". The Trust is a Public Benefit Entity as defined by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **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 Trust 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.
Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## **1.5 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 settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance are allocated or apportioned to the applicable expenditure headings.
## **1.6 Investment property**
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
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## **THE LEON & NAOMI BRENIG FAMILY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2024**_
## **1 Accounting policies**
## **(Continued)**
## **1.7 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.
## **1.8 Taxation**
The Trust is exempt from taxation.
## **1.9 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Critical accounting estimates and judgements**
In the application of the Trust’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**|
||**2024**|**2023**|
||**£**|**£**|
|Donations and gifts|75,000|1,807,124|
## **4 Investments**
||**Unrestricted **|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Rental income|102,205|31,472|
|Interest receivable|8,538|-|
||110,743|31,472|
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## **THE LEON & NAOMI BRENIG FAMILY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2024**_
## **5 Charitable activities**
|**Charitable**
**payments**
**Rental**
**expenses**
**2024**
**2024**
**£**
**£**
Charitable payments
90,254
10,209
Agent commissions
1,032
2,847
Council tax
-
17,311
Insurance & water rates
-
3,058
91,286
33,425
Share of governance
costs (see note 6)
1,200
-
92,486
33,425
**Support costs**
Accountancy
Analysed between
Charitable activities|**Total**
**2024**
**Charitable**
**payments**
**Rental**
**expenses**
**2023**
**2023**
**£**
**£**
**£**
100,463
83,660
4,439
3,879
-
1,184
17,311
-
568
3,058
-
765
124,711
83,660
6,956
1,200
636
-
125,911
84,296
6,956
**Support**
**costs**
**Governance**
**costs**
**2024**
**£**
**£**
**£**
-
1,200
1,200
-
1,200
1,200
-
1,200
1,200|**Total**
**2023**
**£**
88,099
1,184
568
765|
|---|---|---|
|||90,616
636|
|||91,252|
|||**2023**
**£**
636|
|||636|
|||636|
## **6 Support costs**
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration and benefit during the year, and no expenses were incurred by trustees.
## **8 Employees**
The average monthly number of employees during the year was:
|Total
There were no employees whose annual remuneration was more than £60,000.|**2024**
**Number**
-|**2023**
**Number**
-|
|---|---|---|
||||
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## **THE LEON & NAOMI BRENIG FAMILY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2024**_
## **9 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **10 Investment property**
|**Investment property**||
|---|---|
||**2024**|
||**£**|
|**Fair value**||
|At 6 April 2023 and 5 April 2024|1,799,000|
The investment properties included a property worth of £1,400,000 transfer from Holdville Limited as a gift to Leon & Naomi Brenig Family Trust Charity as reflected in the balance sheet.
The fair value valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
## **11 Debtors**
|**Debtors**|||
|---|---|---|
||**2024**|**2023**|
|**Amounts falling due within one year:**|**£**|**£**|
|Other debtors|5,000|-|
## **12 Creditors: amounts falling due within one year**
|Other creditors
Accruals and deferred income|**2024**
**£**
-
1,200
1,200|**2023**
**£**
447
720|
|---|---|---|
|||1,167|
## **13 Creditors: amounts falling due after more than one year**
||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Other creditors|7,410|7,778|
## **14 Related party transactions**
There were no disclosable related party transactions during the year other than those already included in the financial statements.
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