**REGISTERED CHARITY NUMBER: 1118024** ## Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2021 ## for ## S.B.Trust Paul Kraus & Co Certified Accountants 44 Wargrave Avenue London N15 6UB S.B.Trust Contents of the Financial Statements for the Year Ended 31 December 2021 |||Page|| |---|---|---|---| |Report of the Trustees||1|| |Independent Examiner's Report||2|| |Statement of Financial Activities||3|| |Balance Sheet||4|| |Notes to the Financial Statements|5|to|9| |Detailed Statement of Financial Activities||10|| S.B.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). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Charity number** 1118024 ## **Principal address** 82 Fairholt Road London N16 5HN ## **Trustees** E Schlesinger NC Blau J Schlesinger ## **Independent Examiner** Paul Kraus & Co Certified Accountants 44 Wargrave Avenue London N15 6UB Approved by order of the board of trustees on ............................................. and signed on its behalf by: .......................................................................... E Schlesinger - Trustee Page 1 Independent Examiner's Report to the Trustees of S.B.Trust ## **Independent examiner's report to the trustees of S.B.Trust** I report to the charity trustees on my examination of the accounts of S.B.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: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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. Paul Kraus FCCA Paul Kraus & Co Certified Accountants 44 Wargrave Avenue London N15 6UB Date: ............................................. Page 2 S.B.Trust ## Statement of Financial Activities for the Year Ended 31 December 2021 |||31.12.21|31.12.20| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**INCOME AND ENDOWMENTS FROM**|||| |Donations and legacies||45,006|45,200| |Investment income|3|-|7,000| |**Total**||45,006|52,200| |**EXPENDITURE ON**|||| |**Charitable activities**|||| |Gifts to Institutions||57,379|41,722| |Other||750|1,175| |**Total**||58,129|42,897| |Net gains on investments||19,264|-| |**NET INCOME**||6,141|9,303| |**RECONCILIATION OF FUNDS**|||| |**Total funds brought forward**||245,486|236,183| |**TOTAL FUNDS CARRIED FORWARD**||251,627|245,486| The notes form part of these financial statements Page 3 ## S.B.Trust ## Balance Sheet ## 31 December 2021 |31.12.21
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Investment property
6
-
**CURRENT ASSETS**
Cash at bank
252,377
**CREDITORS**
Amounts falling due within one year
7
(750)
**NET CURRENT ASSETS**
251,627
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
251,627
**NET ASSETS**
251,627
**FUNDS**
8
Unrestricted funds
251,627
**TOTAL FUNDS**
251,627|31.12.20
Total
funds
£
375,000
41,236
(170,750)
(129,514)
245,486
245,486
245,486
245,486| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. E Schlesinger - Trustee The notes form part of these financial statements Page 4 S.B.Trust Notes to the Financial Statements for the Year Ended 31 December 2021 ## **1. CHARITABLE DONATIONS MADE** Hachzokas Torah Vochesed 6020 Beth Hatalmud 6700 Sunderland Talmudical 1000 Yeshiva Horomo 1860 CML 1600 Reb Shayele Fund 15000 Ben Amrom 1500 Inspirations 750 North London Welfare 1800 Eido Charedis 1500 Shaare Chaim 1000 Bnos Yerusalaim 72 Ability 180 ST Trust 1000 Preservation Jewish Cemetries 1000 Beth Medrash Lemorot 750 AHT 2750 Mekor Chaim 900 Min Hameizar 1000 TCTC 3000 Shir Chesed 1500 Sundry 6397 -----------------£ 57279 ======== ## **2. 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 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. Page 5 continued... S.B.Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ## **2. ACCOUNTING POLICIES - continued** ## **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. ## **3. INVESTMENT INCOME** |**INVESTMENT INCOME**||| |---|---|---| ||31.12.21|31.12.20| ||£|£| |Investment income|-|7,000| ## **4. 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. ## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Unrestricted| |---|---| ||fund| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Donations and legacies|45,200| |Investment income|7,000| |**Total**|52,200| |**EXPENDITURE ON**|| |**Charitable activities**|| |Gifts to Institutions|41,722| |Other|1,175| |**Total**|42,897| Page 6 continued... ## S.B.Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2021 |**5.**|**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| ||||||fund| ||||||£| ||**NET INCOME**||||9,303| ||**RECONCILIATION OF FUNDS**||||| ||**Total funds brought forward**||||236,183| ||**TOTAL FUNDS CARRIED FORWARD**||||245,486| |**6.**|**INVESTMENT PROPERTY**||||| ||||||£| ||**FAIR VALUE**||||| ||At 1 January 2021||||375,000| ||Disposals||||(375,000)| ||At 31 December 2021||||-| ||**NET BOOK VALUE**||||| ||At 31 December 2021||||-| ||At 31 December 2020||||375,000| |**7.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| ||||31.12.21||31.12.20| ||||£||£| ||Trade creditors|||-|170,000| ||Other creditors||750||750| ||||750||170,750| |**8.**|**MOVEMENT IN FUNDS**||||| ||||Net||| ||||movement||At| |||At 1.1.21|in funds||31.12.21| |||£|£||£| ||**Unrestricted funds**||||| ||General fund|245,486|6,141||251,627| ||**TOTAL FUNDS**|245,486|6,141||251,627| continued... Page 7 S.B.Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ## **8. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
45,006
(58,129)
**TOTAL FUNDS**
45,006
(58,129)
**Comparatives for movement in funds**
At 1.1.20
£
**Unrestricted funds**
General fund
236,183
**TOTAL FUNDS**
236,183
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
52,200
**TOTAL FUNDS**
52,200|Gains and
Movement
losses
in funds
£
£
19,264
6,141
19,264
6,141
Net
movement
At
in funds
31.12.20
£
£
9,303
245,486
9,303
245,486
Resources
Movement
expended
in funds
£
£
(42,897)
9,303
(42,897)
9,303|Gains and
Movement
losses
in funds
£
£
19,264
6,141
19,264
6,141
Net
movement
At
in funds
31.12.20
£
£
9,303
245,486
9,303
245,486
Resources
Movement
expended
in funds
£
£
(42,897)
9,303
(42,897)
9,303| |---|---|---| |||9,303| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.20
£
236,183
236,183|Net
movement
in funds
£
15,444
15,444|At
31.12.21
£
251,627| |---|---|---|---| ||||251,627| continued... Page 8 S.B.Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ## **8. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|97,206|(101,026)|19,264|15,444| |**TOTAL FUNDS**|97,206|(101,026)|19,264|15,444| ## **9. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2021. Page 9 S.B.Trust |Detailed Statement of Financial Activities||| |---|---|---| |for the Year Ended 31 December 2021||| ||31.12.21|31.12.20| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|45,006|45,200| |**Investment income**||| |Investment income|-|7,000| |**Total incoming resources**|45,006|52,200| |**EXPENDITURE**||| |**Charitable activities**||| |Grants to institutions|57,379|41,722| |**Support costs**||| |**Management**||| |Sundries|-|425| |**Finance**||| |Sundries|750|750| |Total resources expended|58,129|42,897| |**Net (expenditure)/income before gains and**||| |**losses**|(13,123)|9,303| |**Realised recognised gains and losses**||| |Realised gains/(losses) on fixed asset investments|19,264|-| |**Net income**|6,141|9,303| This page does not form part of the statutory financial statements Page 10