CHARITY REGISTRATION NUMBER: 1115312
The Peires Family Foundation Unaudited Financial Statements
5 April 2024
GK & CO. LLP
Chartered accountants Hallswelle House 1 Hallswelle Road
London England NW11 0DH
The Peires Family Foundation
Financial Statements
Year ended 5 April 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
The Peires Family Foundation
Trustees' Annual Report
Year ended 5 April 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2024.
Reference and administrative details
Registered charity name The Peires Family Foundation Charity registration number 1115312 Principal office Athene House 86 The Broadway Mill Hill London
The trustees
Mr R Peires Mr C B Greenwood Mrs S Peires Independent examiner Phillip P Smulovitch Hallswelle House 1 Hallswelle Road London England NW11 0DH
Structure, governance and management
The charity's full name is The Peires Family Foundation.
The charity is goverened by a trust deed dated 2 May 2006.
The charity's bankers are Barclays Bank plc, Victoria Street, Douglas, Isle of Man, IM99 1DF.
The trustees were appointed in accordance with the trust deed.
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The Peires Family Foundation
Trustees' Annual Report (continued)
Year ended 5 April 2024
Objectives and activities
The objects of the charity are to pay and apply and appropriate the whole of the Trust Fund to those purposes both in the United Kingdom and abroad recognised as charitable by English Law. In furtherance of its objects the charitable trust continued to:
a) Fund and support Jewish Communities throughout the world.
b) Fund and support the promotion of the Jewish faith worldwide.
c) Fund and support medical research and health care provision worldwide.
The trustees consider that the charitable expenditure during the period under review was wholly in accordance with the objects of the charity. The trustees are responsible for the preparation of the financial statements for each period and for keeping proper accounting records. The trustees consider that prudence demands that they build up and thereafter maintain sufficient reserves to be able to fund the cost of the annual direct charitable expenditure over a reasonable period of time. The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate such risks.
INVESTMENT
The trust deed authorises the trustees to make and hold investments.
In light of current economic conditions the trustees consider it prudent to continue their existing investment policy.
Achievements and performance
The charity is organised so that the trustees meet regularly to manage its affairs.There are no paid employees and all administration work is carried out on a voluntary basis by the trustees.
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The Peires Family Foundation
Trustees' Annual Report (continued)
Year ended 5 April 2024
Financial review
During the period, the charity's funds have been applied in furtherance of its objectives and the day to day running of the charity. In the period to 5 April 2024, incoming resources amounted to £100,000 (2023: £125,000) and resources expended amounted to £134,751 (2023: £116,855). At 5 April 2024, the charity had a total unrestricted fund balance of £8,095 (2023: £ £42,846). There have been no changes in the accounting policies of the charity during the period.
RESERVE POLICY
The trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission and have concluded that the general reserves amounting to £8,095 (2023: £42,846) are necessary to maintain the day to day running of the charity and to achieving its objectives.
RISK MANAGEMENT
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate such risks.
PUBLIC BENEFIT
The trustees have considered the guidance published by the Charity Commission and believe that the charity in carrying out its objectives, fully complies with these requirements. In carrying out this review the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.
FUNDING
The charity does not partake in external funding activities.
Plans for future periods
The trustees intend to continue performing at similar levels to current year which has been most satisfactory. Substantial donations will continue to be paid to various institutions.
The trustees' annual report was approved on 3 March 2025 and signed on behalf of the board of trustees by:
Mr R Peires Trustee
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The Peires Family Foundation
Independent Examiner's Report to the Trustees of The Peires Family Foundation
Year ended 5 April 2024
I report to the trustees on my examination of the financial statements of The Peires Family Foundation ('the charity') for the year ended 5 April 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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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 accounts to be reached.
Phillip P Smulovitch Independent Examiner
Hallswelle House 1 Hallswelle Road London England NW11 0DH
3 March 2025
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The Peires Family Foundation
Statement of Financial Activities
Year ended 5 April 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 100,000 | 100,000 | 125,000 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total income | 100,000 | 100,000 | 125,000 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 5 | 131,600 | 131,600 | 113,600 |
| Expenditure on charitable activities | 6,7 | 3,151 | 3,151 | 3,255 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 134,751 | 134,751 | 116,855 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net (expenditure)/income and net movement in funds | (34,751) | (34,751) | 8,145 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 42,846 | 42,846 | 34,701 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 8,095 | 8,095 | 42,846 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 10 form part of these financial statements.
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The Peires Family Foundation
Statement of Financial Position
5 April 2024
| 5 April | 2024 | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| Note | £ | £ | £ | |
| Current assets | ||||
| Cash at bank and in hand | 11,035 | 45,786 | ||
| Creditors: amounts falling due within one year | 10 | 2,940 | 2,940 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Net current assets | 8,095 | 42,846 | ||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Total assets less current liabilities | 8,095 | 42,846 | ||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Net assets | 8,095 | 42,846 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| Funds of the charity | ||||
| Unrestricted funds | 8,095 | 42,846 | ||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Total charity funds | 11 | 8,095 ৶৶৶৶৶৶৶ |
42,846 ৶৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on 3 March 2025, and are signed on behalf of the board by:
Mr R Peires Trustee
The notes on pages 7 to 10 form part of these financial statements.
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The Peires Family Foundation
Notes to the Financial Statements
Year ended 5 April 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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The Peires Family Foundation
Notes to the Financial Statements (continued)
Year ended 5 April 2024
3. Accounting policies (continued)
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations receivable | 100,000 | 100,000 | 125,000 | 125,000 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
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The Peires Family Foundation
Notes to the Financial Statements (continued)
Year ended 5 April 2024
| 5. | Costs of raising donations and legacies | Costs of raising donations and legacies | |||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Costs of raising donations and legacies | |||||
| - Donations | 131,600 | 131,600 | 113,600 | 113,600 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 6. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Support costs | 3,151 | 3,151 | 3,255 | 3,255 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 7. | Expenditure on charitable activities by activity type | ||||
| Total funds | Total fund | ||||
| Support costs | 2024 | 2023 | |||
| £ | £ | £ | |||
| Governance costs | 3,151 | 3,151 | 3,255 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |||
| 8. | Independent examination fees | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial | statements | 1,500 | 1,500 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
9. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
10. Creditors: amounts falling due within one year
2024 2023 £ £ Accruals and deferred income 2,940 2,940 ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
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The Peires Family Foundation
Notes to the Financial Statements (continued)
Year ended 5 April 2024
11. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 6 | April 2023 | Income | Expenditure | 5 April 2024 | |
| £ | £ | £ | £ | ||
| General funds | 42,846 | 100,000 | (134,751) | 8,095 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| At | At | ||||
| 6 | April 2022 | Income | Expenditure | 5 April 2023 | |
| £ | £ | £ | £ | ||
| General funds | 34,701 ৶৶৶৶৶৶৶৶ |
125,000 ৶৶৶৶৶৶৶৶৶ |
(116,855) ৶৶৶৶৶৶৶৶৶ |
42,846 ৶৶৶৶৶৶৶৶ |
12. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Current assets | 11,035 | – | 11,035 |
| Creditors less than 1 year | – | (2,940) | (2,940) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net assets | 11,035 | (2,940) | 8,095 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Current assets | 45,786 | – | 45,786 |
| Creditors less than 1 year | – | (2,940) | (2,940) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net assets | 45,786 | (2,940) | 42,846 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
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