Charity registration number 1111205
ELISABETH GIAUQUE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
ELISABETH GIAUQUE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr N Giauque (Chairman) |
|---|---|
| Melanie Rademacher | |
| Mrs N Giauque | |
| Charity number | 1111205 |
| Principal address | 87 Home Park Road |
| London | |
| SW19 7HS | |
| Accountants | Prager Metis LLP |
| 5a Bear Lane | |
| Southwark | |
| London | |
| United Kingdom | |
| SE1 0UH | |
| Bankers | Lloyds Bank PLC |
| 10 Hanover Square | |
| London | |
| United Kingdom | |
| W1S 1HJ |
ELISABETH GIAUQUE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Accountants' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Statement of cash flows | 6 |
| Notes to the financial statements | 7 - 10 |
ELISABETH GIAUQUE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their annual report and financial statements for the year ended 31 December 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 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
Summary of the objects of the charity set out in its governing document:
To promote the protection of human life and the protection of the health of the public (and in particular, young persons) from the danger of death and injury from carbon monoxide, including through advancement of the education of the public (including the medical community) as to the danger of death and injury from carbon monoxide and the methods preventing such death and injury.
For such other exclusively charitable objects or purposes in any part of the world (in particular, but not exclusively, for the benefit of children and young persons) as the Trustees may in their discretion think fit
Objectives and activities for the public benefit:
The object of the charity is to benefit charities and for diverse good causes. The trustees have absolute discretion in the choice of charitable institutions or charitable objects. 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.
How our activities delivered public benefit:
The benefit of the Trust's work is the funding provided to a wide range of charitable institutions to enable them to work for the public benefit.
Grant making policy:
The purposes of the Charity are based on the governing document that places no restrictions on the powers of the Trustees or of the Charity's activities.
The Trustees have absolute discretion to make donations to charitable institutions, including Universities, Schools and Hospitals, and to apply income to charitable purposes generally.
Achievements and performance
In 2021, the charity made the following donations:
Bite Back 2030 Limited Friends Of HEC Charitable Trust Trustees of Tufts College IPE - Tapir Conservation Project The Whitgift Foundation ESCP Europe Business School |
£ 100,000 189,000 74,716 44,353 25,000 15,000 448,069 |
|---|---|
- 1 -
ELISABETH GIAUQUE TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Financial review
The charity's current policy is to spend reserves with a 12-24 months view and consequently these reserves are kept in current accounts.
The Charity received £500,000 of donations in the year which was split between £400,000 of donations from the trustees and £100,000 of gift aid payments. There were also donated services valued at £4,200.
The main expenses related to grant donations totalling £448,069 made to various charities in the year as mentioned above.
The net surplus in the year was £54,589.
Structure, governance and management
Governing document:
Declaration of trust dated 10 August 2005.
The governing document has no conditions restricting the powers of the Trustees except that it proves for application of the trust fund for " charitable objects or purposes in any part of the world (in particular, but not exclusively, for the benefit for of the children and young persons) as the Trustees may in their discretion think fit".
The trustees who served during the year and up to the date of signature of the financial statements were: Mr N Giauque (Chairman) Melanie Rademacher Mrs N Giauque
The charity has no staff. Charitable donations are made on the basis of recommendations received by the Trustees. Trustees are appointed by the board of trustees and serve for an indefinite term.
Plans for the future:
The Elisabeth Giauque Trust was established with the aim of providing charitable donations to charitable organisations for the indefinite future. The charity relies on donations from the trustees for its income. The trustees expect the operations of the charity to continue and there are no plans to change the strategy or management of the charity.
Risk Management:
The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks.
In view of the diverse nature of the aims of the charity no operational risk has been identified.
Key management personnel remuneration:
The trustees consider the chairman as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis.
The Trustees' report was approved by the Board of Trustees.
Mr N Giauque (Chairman)
Trustee Dated: 16 September 2022
- 2 -
ELISABETH GIAUQUE TRUST
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ELISABETH GIAUQUE TRUST FOR THE YEAR ENDED 31 DECEMBER 2021
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of Elisabeth Giauque Trust for the year ended 31 December 2021, which comprise the statement of financial activities, the cash flow statement and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Elisabeth Giauque Trust and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elisabeth Giauque Trust and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that Elisabeth Giauque Trust has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Elisabeth Giauque Trust. You consider that Elisabeth Giauque Trust is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.}
We have not been instructed to carry out an audit or a review of the financial statements of Elisabeth Giauque Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Prager Metis LLP
16 September 2022
Chartered Accountants
5a Bear Lane Southwark London SE1 0UH United Kingdom
- 3 -
ELISABETH GIAUQUE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted Unrestricted funds funds 2021 2020 Notes £ £ |
Unrestricted Unrestricted funds funds 2021 2020 Notes £ £ |
Unrestricted Unrestricted funds funds 2021 2020 Notes £ £ |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Income from: | ||
| Donations and legacies 3 |
504,200 | 1,251,200 |
| Expenditure on: | ||
| Charitable activities 2 |
449,611 | 912,936 |
| Net income for the year/ | ||
| Net movement in funds | 54,589 | 338,264 |
| Fund balances at 1 January 2021 | 356,402 | 18,138 |
| Fund balances at 31 December 2021 | 410,991 | 356,402 |
| The statement of financial activities includes all gains and losses recognised in the year. |
All income and expenditure derive from continuing activities.
- 4 -
ELISABETH GIAUQUE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2021
| Notes Current assets |
2021 | 2020 | ||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| 412,491 (1,500) |
410,991 410,991 410,991 |
360,602 (4,200) |
||
| Cash at bank and in hand Creditors: amounts falling due within one year 6 |
||||
| Net current assets | 356,402 | |||
| Income funds | ||||
| Unrestricted funds | 356,402 | |||
| 356,402 |
The financial statements were approved by the Trustees on 16 September 2022
Mr N Giauque (Chairman)
Trustee
- 5 -
ELISABETH GIAUQUE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021
| 2021 Notes £ Cash flows from operating activities Cash generated from operations 9 Net cash used in investing activities Net cash used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2020 | |
|---|---|---|
| £ £ |
£ | |
| 51,889 - - 51,889 360,602 412,491 |
||
| 341,464 | ||
| - | ||
| - | ||
| 341,464 | ||
| 19,138 | ||
| 360,602 |
- 6 -
ELISABETH GIAUQUE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
Charity information
Elisabeth Giauque Trust is a public benefit trust.
1.1 Accounting convention
The financial statements have been prepared in accordance with the the trust's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 the trust is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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 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 Incoming resources
Income is recognised when the 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 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 Resources expended
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 costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. All grants payable are made on an unconditional basis and are accrued once the recipient has been notified of the grant award.
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.
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ELISABETH GIAUQUE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
2 Charitable activities
| Charitable Expenditure Admin expenses 2021 2021 £ £ |
Charitable Expenditure Admin expenses 2021 2021 £ £ |
Charitable Expenditure Admin expenses 2021 2021 £ £ |
Total 2021 Charitable Expenditure Admin expenses |
Total 2021 Charitable Expenditure Admin expenses |
Total 2021 Charitable Expenditure Admin expenses |
Total 2020 |
|---|---|---|---|---|---|---|
| 2021 | 2021 | 2020 | 2020 | |||
| £ | £ | £ | £ | £ | £ | |
| Charitable expenditures | 448,069 | 42 | 448,111 | 908,473 | 63 | 908,536 |
| Share of governance costs (see note ) |
||||||
| 1,500 | - | 1,500 | 4,400 | - | 4,400 | |
| 449,569 | 42 | 449,611 | 912,873 | 63 | 912,936 |
Governance costs relate to auditors fees.
In 2021, the charity made no donations to individuals and the following donations were made to institutions:
Bite Back 2030 Limited Friends Of HEC Charitable Trust Trustees of Tufts College IPE - Tapir Conservation Project The Whitgift Foundation ESCP Europe Business School |
£ 100,000 189,000 74,716 44,353 25,000 15,000 448,069 |
|---|---|
In 2020, the charity made no donations to individuals and the following donations were made to institutions:
£ Bite Back 2030 Limited 100,000 Friends Of HEC Charitable Trust 140,000 Trustees of Tufts College 550,056 Stone King Foundation 10,000 IPE - Tapir Conservation Project 31,429 Old Vic Theatre 50,000 The Whitgift Foundation 11,988 ESCP Europe Business School 15,000 908,473
- 8 -
ELISABETH GIAUQUE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
3 Donations and legacies
| Unrestricted Unrestricted funds funds 2021 2020 £ £ |
Unrestricted Unrestricted funds funds 2021 2020 £ £ |
Unrestricted Unrestricted funds funds 2021 2020 £ £ |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Donations and gifts | 500,000 | 1,250,000 |
| Donated goods and services | 4,200 | 1,200 |
| 504,200 | 1,251,200 |
4 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the the trust during the year.
During the year £400,000 was received as donations by one of the trustees. The trustee also paid for accountancy fees and this has been included in donated services.
5 Employees
The average monthly number of employees during the year was:
| Total There were no employees whose annual remuneration was more than £60,000. 6 Creditors: amounts falling due within one year |
2021 | 2021 | 2020 |
|---|---|---|---|
| Number | Number | ||
| - | - | ||
| Accruals and deferred income | 2021 | 2020 | |
| £ | £ | ||
| 1,500 | 4,200 | ||
| 7 Analysis of net assets between funds |
|||
| Unrestricted funds Unrestricted funds 2021 2020 £ £ Fund balances at 31 December 2021 are represented by: Current assets/(liabilities) 410,991 356,402 410,991 356,402 |
|||
| 2021 | 2020 | ||
| £ | £ | ||
| 410,991 | 356,402 | ||
| 410,991 | 356,402 |
- 9 -
ELISABETH GIAUQUE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 8 Related party transactions |
||
|---|---|---|
| There were no disclosable related party transactions during the year (2020 - none). | ||
| 9 Cash generated from operations |
2021 | 2020 |
| Surplus for the year Movements in working capital: (Decrease)/increase in creditors Cash generated from operations |
£ | £ |
| 54,589 | 338,264 | |
| (2,700) | 3,200 | |
| 51,889 | 341,464 |
- 10 -
Document Activity Report
Document Sent
Fri, 16 Sep 2022 15:56:00 GMT
Document Approval Status
Approved
Approval Activity Summary
Nicolas Giauque (Chairman)
Approved Tue, 20 Sep 2022 14:28:00 GMT
Document Activity History
Document history shows most recent activity first
Date
Activity
Tue, 20 Sep 2022 17:00:49 GMT Nicolas Giauque (Chairman) viewed the document Tue, 20 Sep 2022 15:28:24 GMT Nicolas Giauque (Chairman) Approved the document Tue, 20 Sep 2022 15:25:54 GMT Nicolas Giauque (Chairman) viewed the document Tue, 20 Sep 2022 15:25:52 GMT Nicolas Giauque (Chairman) viewed the document Tue, 20 Sep 2022 14:21:34 GMT Document Sent
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