Charity Registration No. 1115112
LEANNE & WINSTON NEWMAN CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
LEANNE & WINSTON NEWMAN CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr W Newman Mrs L F Newman Mr E Newman Charity number 1115112 Principal address 5 Hill Close London NW11 7JP Independent examiner Berish Hoffman ACA Landau Morley LLP 325-327 Oldfield Lane North Middlesex UB6 0FX
LEANNE & WINSTON NEWMAN CHARITABLE 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 - 10 |
LEANNE & WINSTON NEWMAN CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2021
The Trustees present their annual report and financial statements for the year ended 5 April 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, 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)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The objective of the Charity is to utilise funds for such charitable purposes as the Trustees think fit in all areas of need with particular emphasis on education and welfare principally by making grants to other institutions.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Volunteers
The charity has not made significant use of volunteers other than the trustees.
Achievements and performance
The main achievement of the Charity in the year was to fulfill its objectives. The Trustees confirm that they have compiled with the Charity Commissioners guidance on public benefit.
Total incoming resources for the year amounted to £167,426 (2020: £10,906). G rants made were £49,670 (2020: £61,015).
The grants made are dependent upon incoming resources for the period.
Financial review
The performance of the Charity in the year is detailed on the Statement of Financial Activities. The level of reserves held (unrestricted funds less fixed assets) at the year end w as £69,613.
The trustees control and manage the Trusts assets on an active basis which they believe minimises any risk in respect thereof. This also ensures that at any time the Trust has sufficient reserves available to enable it to operate and fulfil its objectives.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are
in place to mitigate exposure to these risks.
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.
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LEANNE & WINSTON NEWMAN CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
Structure, governance and management
The trustees determine the general policy of the charity and are responsible for its day to day running. They meet regularly to assess the payment of grants.
Leanne and Winston Newman Charitable Trust is governed by a trust deed, dated 23 May 2006.
The Trustees who served during the year and up to the date of signature of the financial statements were: Mr W Newman
Mrs L F Newman Mr E Newman
Appointing and electing trustees
To be elected or appointed as a trustee, the proposer must be a member of the charity. Trustees are elected by members in the annual general meeting or can be seconded at a trustees' meeting.
The Trustees' r eport was approved by the Board of Trustees.
Mr W Newman Trustee Dated: 19 January 2022
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LEANNE & WINSTON NEWMAN CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF LEANNE & WINSTON NEWMAN CHARITABLE TRUST
I report to the Trustees on my examination of the financial statements of Leanne & Winston Newman Charitable Trust (the Trust) for the year ended 5 April 2021.
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
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:
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1 accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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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.
Berish Hoffman ACA
Landau Morley LLP 325-327 Oldfield Lane North Middlesex UB6 0FX
Dated: 19 January 2022
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LEANNE & WINSTON NEWMAN CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2021
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds |
||
| 2021 | 2020 |
||
| Notes | £ |
£ |
|
| Income from: | |||
| Donations and legacies | 2 | 156,249 | - |
| Investments | 3 | 11,177 | 10,906 |
| Total income | 167,426 | 10,906 |
|
| Expenditure on: | |||
| Raising funds | 4 | 7,078 | 5,811 |
| Charitable activities | 5 | 50,750 | 61,915 |
| Total resources expended | 57,828 | 67,726 |
|
| Net gains/(losses) on investments | 10 | 126,408 | (63,953) |
| Net movement in funds | 236,006 | (120,773) |
|
| Fund balances at 6 April 2020 | 495,628 | 616,401 |
|
| Fund balances at 5 April 2021 | 731,634 | 495,628 |
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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LEANNE & WINSTON NEWMAN CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2021
| Notes Fixed assets Investments 11 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Income funds Unrestricted funds |
2021 £ 71,267 (1,654) |
£ 662,021 69,613 731,634 731,634 731,634 |
2020 £ 47,979 (1,474) |
£ 449,123 46,505 495,628 495,628 495,628 |
|---|---|---|---|---|
The financial statements were approved by the Trustees on 19 January 2022
Mr W Newman Trustee
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LEANNE & WINSTON NEWMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
1 Accounting policies
Charity information
The Leanne and Winston Newman Charitable Trust is a registered charity in England and Wales and is unincorporated. The address of the principal office is 5 Hill Close, London, NW11 7JP
1.1 Accounting convention
The financial statements have been prepared in accordance 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)” (as amended for accounting periods commencing from 1 January 2016). 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 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 Trust . Monetary a mounts 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 investments 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 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 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 Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred and is classified under headings of the statement of financial activities to which it relates.
Expenditure on charitable activities is in respect of grants payable in furtherance of the Charity's objectives.
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LEANNE & WINSTON NEWMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
1 Accounting policies
(Continued)
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
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.
2 Donations and legacies
| Unrestricted | Total | |
|---|---|---|
| funds | ||
| 2021 | 2020 | |
| £ | £ | |
| Donations and gifts | 156,249 | - |
| Investments | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Income from listed investments | 10,472 | 10,353 |
| Interest receivable | 705 | 553 |
| 11,177 | 10,906 |
3 Investments
4 Raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Investment management | 7,078 | 5,811 |
| 7,078 | 5,811 |
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LEANNE & WINSTON NEWMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2021
5 Charitable activities
| Grant funding of activities (see note 6) Share of governance costs (see note 7) Grants payable Grants to institutions: British Emunah Fund British Friends of Shalva The Jewish Association for Mental Illness (Jami) Jewish Care HTVC WST Charity Limited UK Gives Leket UK Norwood Work avenue Jewish Homes Emergency Appeal Jewish Womens Aid JLE Kemble Charitable Trust Keren Shabbos Kisharon Laniado UK. Nurses Scholarship 2021/22 Other < £1,000 |
2021 £ 49,670 1,080 50,750 2021 £ 3,000 - 5,000 1,000 4,200 2,000 2,000 1,800 1,000 1,000 3,600 1,500 1,000 1,350 1,750 1,000 1,430 17,040 49,670 |
2020 £ 61,015 900 61,915 2020 £ 25,750 1,500 5,000 - 3,000 2,250 3,200 2,500 1,000 - - - - - - - - 16,815 61,015 |
|---|---|---|
6 Grants payable
During the year, grants totalling £ 49,670 were paid to various institutions in accordance with the Charity's objectives.
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LEANNE & WINSTON NEWMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
7 Support costs
| Support costs Governance costs £ £ Accountancy fees - 1,080 - 1,080 Analysed between Charitable activities - 1,980 |
2021 £ 1,080 1,080 1,980 |
Support costs Governance costs £ £ - 900 - 900 - 900 |
2020 £ 900 900 900 |
|---|---|---|---|
8 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.
9 Employees
The average monthly number of employees during the year was:
| Total There were no employees whose annual remuneration was more than £60,000. Net gains/(losses) on investments Revaluation of investments |
2021 Number - £ 126,408 |
2020 Number - £ (63,953) |
|---|---|---|
10 Net gains/(losses) on investments
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LEANNE & WINSTON NEWMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2021
11 Fixed asset investments
| Cost or valuation At 6 April 2020 Additions Valuation changes Disposals At 5 April 2021 Carrying amount At 05 April 2021 At 05 April 2020 12 Creditors: amounts falling due within one year Accruals and deferred income 13 Related party transactions |
Listed investments £ 449,123 240,708 126,408 (154,218) 662,021 662,021 449,123 2021 2020 £ £ 1,654 1,474 |
|---|---|
During the year the charity received donations of £124,999 (20 20 : £ NIL ) from the Trustees.
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