REGISTERED CHARITY NUMBER: 1108246
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2020
for
M and L Cohen Charitable Trust
Freedman Frankl & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ
M and L Cohen Charitable Trust
Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
M and L Cohen Charitable Trust
Report of the Trustees for the Year Ended 31 December 2020
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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
Objectives and aims
The principal object of the charity is the furtherance of orthodox Jewish education, relief of poverty and any other charitable activities as the trustees may from time to time and in their absolute discretion think fit.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit.
Grantmaking
The intention is to utilise the income from the funds to make grants and donations to various charitable causes known to the Trustees or in respect of which the Trustees may receive specific applications.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year, the charity's incoming resources amounted to £51,000 and total resources expended amounted to £35,275. This has resulted in a surplus of £15,725 for the year, increasing the funds brought forward from the previous year of £13,849 to £29,574.
FINANCIAL REVIEW
Reserves policy
It is the aim of the charity to maintain unrestricted funds at a level sufficient to enable it to continue to operate and meet day to day running costs.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity is constituted by the Trust Deed dated 30 January 2005 and registered with the Charity Commission under charity number 1108246.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1108246
Principal address
28 New Hall Road Salaford Lancashire M7 4HS
Trustees
Mrs L Cohen M Cohen
Independent Examiner
Ian Sluckis FCA Freedman Frankl & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ
Page 1
M and L Cohen Charitable Trust
Report of the Trustees for the Year Ended 31 December 2020
Approved by order of the board of trustees on 26 October 2021 and signed on its behalf by:
M Cohen - Trustee
Page 2
Independent Examiner's Report to the Trustees of M and L Cohen Charitable Trust
Independent examiner's report to the trustees of M and L Cohen Charitable Trust
I report to the charity trustees on my examination of the accounts of M and L Cohen Charitable Trust (the Trust) for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Ian Sluckis FCA Freedman Frankl & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ Date: .............................................
Page 3
M and L Cohen Charitable Trust
Statement of Financial Activities for the Year Ended 31 December 2020
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 51,000 - Other income - - Total 51,000 - EXPENDITURE ON Charitable activities Donations 34,975 - Other 300 - Total 35,275 - NET INCOME/(EXPENDITURE) 15,725 - RECONCILIATION OF FUNDS Total funds brought forward 13,849 - TOTAL FUNDS CARRIED FORWARD 29,574 - |
2020 2019 Total Total funds funds £ £ 51,000 10,000 - 1,082 51,000 11,082 34,975 42,887 300 300 35,275 43,187 15,725 (32,105) 13,849 45,954 29,574 13,849 |
|---|---|
The notes form part of these financial statements
Page 4
M and L Cohen Charitable Trust
Balance Sheet 31 December 2020
| Unrestricted Restricted fund fund Notes £ £ CURRENT ASSETS Debtors 5 8,500 - Cash at bank 21,374 - 29,874 - CREDITORS Amounts falling due within one year 6 (300) - NET CURRENT ASSETS 29,574 - TOTAL ASSETS LESS CURRENT LIABILITIES 29,574 - NET ASSETS 29,574 - FUNDS 7 Unrestricted funds TOTAL FUNDS |
2020 Total funds £ 8,500 21,374 29,874 (300) 29,574 29,574 29,574 29,574 29,574 |
2019 Total funds £ 6,506 7,943 14,449 (600) 13,849 13,849 13,849 13,849 13,849 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26 October 2021 and were signed on its behalf by:
M Cohen - Trustee
The notes form part of these financial statements
Page 5
M and L Cohen Charitable Trust
Notes to the Financial Statements for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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 offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. GRANTS PAYABLE
| Donations The total grants paid to institutions during the year was as follows: Chai Kahal Chassidim Lubavitch Asser Bishvil MJGS KDS Yavneh Lubavitch Liverpool Colel Chabad King David School Others - Less than £1,000 |
2020 £ 34,975 2020 £ 2,540 3,845 1,906 9,600 - - 3,214 2,528 5,000 6,342 34,975 |
2019 £ 42,887 |
|---|---|---|
| 2019 £ 4,760 3,540 5,180 6,500 2,000 2,000 1,550 3,160 6,676 7,521 |
||
| 42,887 |
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continued...
M and L Cohen Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 10,000 - Other income 1,082 - Total 11,082 - EXPENDITURE ON Charitable activities Donations 42,887 - Other 300 - Total 43,187 - NET INCOME/(EXPENDITURE) (32,105) - RECONCILIATION OF FUNDS Total funds brought forward 45,954 - TOTAL FUNDS CARRIED FORWARD 13,849 - 5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2020 £ Other debtors 7,000 Tax 1,500 8,500 |
Total funds £ 10,000 1,082 11,082 42,887 300 43,187 (32,105) 45,954 13,849 2019 £ 5,006 1,500 6,506 |
|---|---|
continued...
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M and L Cohen Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 2020 | 2019 | |||
| £ | £ | |||
| Other creditors | 300 | 600 | ||
| 7. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.20 | in funds | 31.12.20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 13,849 | 15,725 | 29,574 | |
| TOTAL FUNDS | 13,849 | 15,725 | 29,574 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 51,000 | (35,275) | 15,725 | |
| TOTAL FUNDS | 51,000 | (35,275) | 15,725 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.1.19 | in funds | 31.12.19 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 45,954 | (32,105) | 13,849 | |
| TOTAL FUNDS | 45,954 | (32,105) | 13,849 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 11,082 | (43,187) | (32,105) | |
| TOTAL FUNDS | 11,082 | (43,187) | (32,105) |
continued...
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M and L Cohen Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.19 | in funds | 31.12.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 45,954 | (16,380) | 29,574 |
| TOTAL FUNDS | 45,954 | (16,380) | 29,574 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 62,082 | (78,462) | (16,380) |
| TOTAL FUNDS | 62,082 | (78,462) | (16,380) |
8. RELATED PARTY DISCLOSURES
During the year donations amounting to £50,000 were made by companies in which some of the trustees are directors
9. GOING CONCERN
The charity's financial statements for the year ended 31 December 2020 have been prepared on a going concern basis as, 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.
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