CHARITY REGISTRATION NUMBER: 1123582
Fairview Charitable Trust Unaudited Financial Statements
30 April 2021
Fairview Charitable Trust
Financial Statements
Year ended 30 April 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
Fairview Charitable Trust
Trustees' Annual Report
Year ended 30 April 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 30 April 2021.
Reference and administrative details
Registered charity name Fairview Charitable Trust Charity registration number 1123582 Principal office 48 Clapton Common London E5 9BA United Kingdom
The trustees
Mr J Feldman Mrs J Feldman Independent examiner GK & Co LLP Hallswelle House 1 Hallswelle Road London NW11 0DH
Structure, governance and management
Constitution
The Charity was established by Deed of Trust dated 19 March 2008.
Organisation
The charity is managed by trustees who are responsible for setting the strategic direction of the organisation and for establishing policy.
Objectives and activities
The principal objectives of the charity throughout the year has been;
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1) The advancement of the orthodox jewish faith
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2) The advancement of orthodox jewish religious education.
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3) The relief of poverty sickness and infirmity amongst members of the jewish faith 4) such other purposes as are charitable according to English Law.
In the year to 30 April 2020, no grants were made to charitable institutions as all of the charitable activities of the Charity for the year were made through charitable expenditure in the form of donations.
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Fairview Charitable Trust
Trustees' Annual Report (continued)
Year ended 30 April 2021
Achievements and performance
The charity is organised so that the governors meet regularly to manage its affairs.
There are no paid employees and all administration work is carried out on a voluntary basis by the governors.
Financial review
During the year, the charity's funds have been applied in furtherance of its objectives and the day to day running of the charity.
In the year to 30 April 2021, incoming resources amounted to £52200 (2020 - £49000) and resources expended amounted to £39000 (2020 - £53872).
At 30 April 2021, the charity had a total unrestricted fund surplus of £13920.
There have been no changes in the accounting policies of the charity during the year.
Reserves 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 of £13920 (2020 - £1472) are sufficient to maintain the day to day running of the charity and to achieving its objectives
Public benefit
The governors 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 particular the provision of funding for education in accordance with the principles of traditional Judaism and the support of associated communal charitable institutions such as synagogues and homes for the elderly and infirm automatically gives rise to a public benefit. Each year the governors review the objectives and activities of the charity to ensure that they continue to reflect these aims. In carrying out this review the governors have considered the Charity Commission's general guidance on on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.
Plans for future periods
The governors intend to continue performing at similar levels to the current year.
The trustees' annual report was approved on 21 September 2022 and signed on behalf of the board of trustees by:
Mr J Feldman Trustee
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Fairview Charitable Trust
Independent Examiner's Report to the Trustees of Fairview Charitable Trust
Year ended 30 April 2021
I report to the trustees on my examination of the financial statements of Fairview Charitable Trust ('the charity') for the year ended 30 April 2021.
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
In connection with our examination, no matter has come to our attention:
(1) which gives us reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006, and
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met, or
(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
GK & Co LLP
GK & Co LLP Independent Examiner
Hallswelle House 1 Hallswelle Road London NW11 0DH
21 September 2022
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Fairview Charitable Trust
Statement of Financial Activities
Year ended 30 April 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 52,200 | 52,200 | 49,000 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total income | 52,200 | 52,200 | 49,000 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 5,6 | 39,752 | 39,752 | 54,913 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 39,752 | 39,752 | 54,913 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net income/(expenditure) and net movement in funds | 12,448 | 12,448 | (5,913) | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 1,472 | 1,472 | 7,385 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 13,920 | 13,920 | 1,472 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
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 6 to 10 form part of these financial statements.
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Fairview Charitable Trust
Statement of Financial Position
30 April 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Current assets | ||||
| Cash at bank and in hand | 17,520 | 4,352 | ||
| Creditors: amounts falling due within one year | 9 | 3,600 | 2,880 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| Net current assets | 13,920 | 1,472 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| Total assets less current liabilities | 13,920 | 1,472 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| Net assets | 13,920 | 1,472 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |||
| Funds of the charity | ||||
| Unrestricted funds | 13,920 | 1,472 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| Total charity funds | 10 | 13,920 ৶৶৶৶৶৶৶৶ |
1,472 ৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on 21 September 2022, and are signed on behalf of the board by:
Mr J Feldman Trustee
The notes on pages 6 to 10 form part of these financial statements.
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Fairview Charitable Trust
Notes to the Financial Statements
Year ended 30 April 2021
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 48 Clapton Common, London, E5 9BA, United Kingdom.
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.
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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Fairview Charitable Trust
Notes to the Financial Statements (continued)
Year ended 30 April 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are 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:
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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.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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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 charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
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Fairview Charitable Trust
Notes to the Financial Statements (continued)
Year ended 30 April 2021
3. Accounting policies (continued)
Financial instruments (continued)
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 52,200 | 52,200 | 49,000 | 49,000 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
5. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Charitable donations | 39,000 | 39,000 | 53,873 | 53,873 |
| Support costs | 752 | 752 | 1,040 | 1,040 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 39,752 | 39,752 | 54,913 | 54,913 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
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Fairview Charitable Trust
Notes to the Financial Statements (continued)
Year ended 30 April 2021
6. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly Support costs | 2021 | 2020 | ||
| £ | £ | £ | £ | |
| Charitable donations | 39,000 | – | 39,000 | 53,873 |
| Governance costs | – | 752 | 752 | 1,040 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 39,000 | 752 | 39,752 | 54,913 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
7. Independent examination fees
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 720 | 720 |
| ৶৶৶৶ | ৶৶৶৶ |
8. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
9. Creditors: amounts falling due within one year
2021 2020 £ £ Accruals and deferred income 3,600 2,880 ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
10. Analysis of charitable funds Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 | May 2020 | Income | Expenditure | 30 April 2021 | ||
| £ | £ | £ | £ | |||
| General funds | 1,472 | 52,200 | (39,752) | 13,920 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| At | At | |||||
| 1 | May 2019 | Income | Expenditure | 30 April 2020 | ||
| £ | £ | £ | £ | |||
| General funds | 7,385 ৶৶৶৶৶৶৶ |
49,000 ৶৶৶৶৶৶৶৶ |
(54,913) ৶৶৶৶৶৶৶৶ |
1,472 ৶৶৶৶৶৶৶ |
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Fairview Charitable Trust
Notes to the Financial Statements (continued)
Year ended 30 April 2021
11. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Current assets | 17,520 | 17,520 |
| Creditors less than 1 year | (3,600) | (3,600) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net assets | 13,920 | 13,920 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Unrestricted | Total Funds | |
| Funds | 2020 | |
| £ | £ | |
| Current assets | 4,352 | 4,352 |
| Creditors less than 1 year | (2,880) | (2,880) |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| Net assets | 1,472 | 1,472 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
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