REGISTERED CHARITY NUMBER: 1117427
Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2024
for
THE EMMES FOUNDATION
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
THE EMMES FOUNDATION
Contents of the Financial Statements FOR THE YEAR ENDED 5 APRIL 2024
| 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 7 |
THE EMMES FOUNDATION
Report of the Trustees FOR THE YEAR ENDED 5 APRIL 2024
The trustees present their report with the financial statements of the charity for the year ended 5 April 2024. 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 charitable objectives of The Emmes Foundation as approved by the Charity Commission is to support general charitable purposes for the benefit of the public. This is achieved primarily through the provision of grants to charitable organisations.
Public benefit
The Trustees consider that they have complied with Section 17 of the Charities Act 2011 with regard to the guidance on public benefit published by the Charity Commission, as indicated in the summaries of activities achievements and performance below.
Grantmaking
Grants are made to charitable institutions after it has been satisfied that payments will accord with the objectives of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year the charity's total income was £105,000 (2023:£276,000) and grants totalling £80,528 (2023: £232,197) were made to charitable organisations. Other charitable costs amounted to £1,500 (2023: £1,000) so the total surplus for the year was £23,472 (42,803). Total funds at the end of the financial year was £116,647 (2023: £93,175).
Internal and external factors
There are no specific factors to report.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Risk management
The trustees have considered the various risks that they are exposed to, as per below, and have taken the steps indicated to minimise risk as set out in this report.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1117427
Principal address
37 Stormont Road London N6 4NR
Trustees
Mr M H Samuels Mrs C G Samuels Mrs B Davis
Independent Examiner
Mr Danny Fine, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Page 1
THE EMMES FOUNDATION
Report of the Trustees FOR THE YEAR ENDED 5 APRIL 2024
Approved by order of the board of trustees on 27 January 2024 and signed on its behalf by:
Mr M H Samuels - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Emmes Foundation
Independent examiner's report to the trustees of The Emmes Foundation
I report to the charity trustees on my examination of the accounts of The Emmes Foundation (the Trust) for the year ended 5 April 2024.
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
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the accounts do not accord with those records; or
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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.
Mr Danny Fine, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Date: 28 January 2024
Page 3
THE EMMES FOUNDATION
Statement of Financial Activities
FOR THE YEAR ENDED 5 APRIL 2024
| 2024 Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 105,000 EXPENDITURE ON Charitable activities Charitable activities 81,528 NET INCOME 23,472 RECONCILIATION OF FUNDS Total funds brought forward 93,175 TOTAL FUNDS CARRIED FORWARD 116,647 |
2023 Total funds £ 276,000 233,197 42,803 50,372 93,175 |
|---|---|
The notes form part of these financial statements
Page 4
THE EMMES FOUNDATION
Balance Sheet
5 APRIL 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Investment property 4 7,500 CURRENT ASSETS Debtors 5 219,405 Cash at bank 4,422 223,827 CREDITORS Amounts falling due within one year 6 (114,680) NET CURRENT ASSETS 109,147 TOTAL ASSETS LESS CURRENT LIABILITIES 116,647 NET ASSETS/(LIABILITIES) 116,647 FUNDS Unrestricted funds 116,647 TOTAL FUNDS 116,647 |
2023 Total funds £ 7,500 198,405 450 198,855 (113,180) 85,675 93,175 93,175 93,175 93,175 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 27 January 2024 and were signed on its behalf by:
Mr M H Samuels - Trustee
The notes form part of these financial statements
Page 5
THE EMMES FOUNDATION
Notes to the Financial Statements FOR THE YEAR ENDED 5 APRIL 2024
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.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
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
| Charitable activities The total grants paid to institutions during the year was as follows: Grants to institutions |
2024 £ 80,028 2024 £ 80,028 |
2023 £ 232,197 2023 £ 232,197 |
|---|---|---|
The total grants paid to institutions during the year was as follows:
The total grants paid to institutions during the year was £80,028 (2023: £232,197). A summary of grants made to institutions during the year is as follows:
| Name of charitable institution | Amount (£) |
|---|---|
| Misgov Ladoch | 45,000 |
| Beit Halochem UK | 10,500 |
| Community Security Trust | 6,500 |
| Shiras Devora Limited | 5,000 |
| Other smaller donations | 13,028 |
continued...
Page 6
THE EMMES FOUNDATION
Notes to the Financial Statements - continued FOR THE YEAR ENDED 5 APRIL 2024
2. GRANTS PAYABLE - continued
Total
80,028
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023.
4. INVESTMENT PROPERTY
| FAIR VALUE At 6 April 2023 and 5 April 2024 NET BOOK VALUE At 5 April 2024 At 5 April 2023 5. DEBTORS Amounts falling due within one year: Prepayments and accrued income Amounts falling due after more than one year: Other debtors Aggregate amounts 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors |
2024 £ 219,405 - 219,405 2024 £ 114,680 |
£ 7,500 |
|
|---|---|---|---|
| 7,500 | |||
| 7,500 | |||
| 2023 £ - |
|||
| 198,405 | |||
| 198,405 | |||
| 2023 £ 113,180 |
7. RELATED PARTY DISCLOSURES
All donations received the by charity during the financial year were donations from trustees. These donations were freely given and were made without conditions attached. No other related party transactions occurred during the year. The trustees received no remuneration or other benefits during the financial year. The charity operates from the premises of one of the trustees but no expenses were reimbursed.
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