REGISTERED CHARITY NUMBER: 1108246
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2021
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 2021
| 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 | 10 |
M and L Cohen Charitable Trust
Report of the Trustees for the Year Ended 31 December 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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 £61,400 and total resources expended amounted to £80,599. This has resulted in a deficit of £19,199 for the year, decreasing the funds brought forward from the previous year of £29,574 to £10,375.
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 Salford 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 2021
Approved by order of the board of trustees on 28 October 2022 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 2021.
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
28 October 2022
Page 3
M and L Cohen Charitable Trust
Statement of Financial Activities for the Year Ended 31 December 2021
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 61,400 - EXPENDITURE ON Charitable activities Donations 79,794 - Other 805 - Total 80,599 - NET INCOME/(EXPENDITURE) (19,199) - RECONCILIATION OF FUNDS Total funds brought forward 29,574 - TOTAL FUNDS CARRIED FORWARD 10,375 - |
2021 Total funds £ 61,400 79,794 805 80,599 (19,199) 29,574 10,375 |
2020 Total funds £ 51,000 34,975 300 35,275 15,725 13,849 29,574 |
|---|---|---|
The notes form part of these financial statements
Page 4
M and L Cohen Charitable Trust
Balance Sheet 31 December 2021
| Unrestricted Restricted fund fund Notes £ £ CURRENT ASSETS Debtors 5 9,000 - Cash at bank 1,975 - 10,975 - CREDITORS Amounts falling due within one year 6 (600) - NET CURRENT ASSETS 10,375 - TOTAL ASSETS LESS CURRENT LIABILITIES 10,375 - NET ASSETS 10,375 - FUNDS 7 Unrestricted funds TOTAL FUNDS |
2021 Total funds £ 9,000 1,975 10,975 (600) 10,375 10,375 10,375 10,375 10,375 |
2020 Total funds £ 8,500 21,374 29,874 (300) 29,574 29,574 29,574 29,574 29,574 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 October 2022 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 2021
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
| GRANTS PAYABLE | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Donations | 79,794 | 34,975 |
continued...
Page 6
M and L Cohen Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
2. GRANTS PAYABLE - continued
The total grants paid to institutions during the year was as follows:
| Chai Kahal Chassidim Lubavitch Asser Bishvil BJPS Chabad KD Nursery Lubavitch Liverpool Colel Chabad King David School CTeen Manchester Jewish Day Primary LChaim Foodbank Lubavitch Manchester Machzikei Hadas Mayanot Foundation Young Lubavitch Heaton Park Congregation Rabbis Fund Higher Prestwich Others - Less than £1,000 |
2021 £ 3,000 5,655 - 13,500 2,500 1,000 11,000 4,242 5,000 - 1,650 2,500 1,950 5,935 2,500 11,090 1,500 1,000 1,000 4,772 79,794 |
2020 £ 2,540 3,845 1,906 9,600 - - - 3,214 2,528 5,000 - - - - - - - - - 6,342 34,975 |
|---|---|---|
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 51,000 - EXPENDITURE ON Charitable activities Donations 34,975 - Other 300 - Total 35,275 - NET INCOME 15,725 - |
Total funds £ 51,000 34,975 300 35,275 15,725 |
|---|---|
continued...
Page 7
M and L Cohen Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| fund | fund | funds | ||
| £ | £ | £ | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 13,849 | - | 13,849 | |
| TOTAL FUNDS CARRIED FORWARD | 29,574 | - | 29,574 | |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| Other debtors | 2021 £ 8,000 |
2020 £ 7,000 |
||
| Tax | 1,000 | 1,500 | ||
| 9,000 | 8,500 | |||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| Other creditors | 2021 £ 600 |
2020 £ 300 |
||
| 7. | MOVEMENT IN FUNDS | |||
| Unrestricted funds | At 1.1.21 £ |
Net movement in funds £ |
At 31.12.21 £ |
|
| General fund | 29,574 | (19,199) | 10,375 | |
| TOTAL FUNDS | 29,574 | (19,199) | 10,375 | |
| Net movement in funds, included in the above are as follows: | ||||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
|
| General fund | 61,400 | (80,599) | (19,199) | |
| TOTAL FUNDS | 61,400 | (80,599) | (19,199) | |
continued...
Page 8
M and L Cohen Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
7. MOVEMENT IN FUNDS - continued
Comparatives for 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 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 51,000 | (35,275) | 15,725 |
| TOTAL FUNDS | 51,000 | (35,275) | 15,725 |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Unrestricted funds | At 1.1.20 £ |
Net movement in funds £ |
At 31.12.21 £ |
| General fund | 13,849 | (3,474) | 10,375 |
| TOTAL FUNDS | 13,849 | (3,474) | 10,375 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 112,400 (115,874) |
(3,474) |
| TOTAL FUNDS | 112,400 (115,874) |
(3,474) |
continued...
Page 9
M and L Cohen Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
8. RELATED PARTY DISCLOSURES
During the year donations amounting to £61,400 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 2021 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.
Page 10