Charity number: 1124889
## THE LITTLE CHARITY
## UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
BAGINSKY COHEN
CHARTERED ACCOUNTANTS
THE LITTLE CHARITY
## CONTENTS
||Page|
|---|---|
|Reference and administrative details of the Charity, its Trustees and advisers|1|
|Trustees' report|2 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 12|
THE LITTLE CHARITY
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2021
Trustees
ANTHONY TABATZNIK SETH TABATZNIK
Charity registered number
1124889
Principal office
930 HIGH ROAD LONDON N12 9RT
Accountants
BAGINSKY COHEN CHARTERED ACCOUNTANTS 930 HIGH ROAD LONDON N12 9RT
Page 1
## THE LITTLE CHARITY
## TRUSTEES' REPORT
FOR THE YEAR ENDED 30 JUNE 2021
The Trustees present their annual report together with the financial statements of the charity for the year 1 July 2020 to 30 June 2021.
Objectives and activities
## Policies and objectives
The principal object of the charity is to provide relief of poverty, the advancement of education, the advancement of religion and any other purposes which are exclusively charitable according to the law of England and Wales as the trustees may from time to time determine.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## Financial review
## Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Structure, governance and management
## Constitution
The Little Charity is a registered charity, number 1124889, and is constituted under a Trust deed.
## Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Plans for future periods
The Charity aims to continue to make donations to causes that the Trustees deem appropriate.
Page 2
THE LITTLE CHARITY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 18 September 2021 and signed on their behalf by:
ANTHONY TABATZNIK Trustee
Page 3
THE LITTLE CHARITY
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2021
Independent Examiner's Report to the Trustees of The Little Charity ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 June 2021.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed 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 the accounts in accordance with 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) 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 been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the 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:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 18 September 2021 Neil Cohen FCA BAGINSKY COHEN CHARTERED ACCOUNTANTS 930 HIGH ROAD LONDON N12 9RT
Page 4
THE LITTLE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021
|Note
INCOME FROM:
Donations
2
Investments
3
TOTAL INCOME
EXPENDITURE ON:
Charitable activities:
4,5
Grants
. Support costs
TOTAL EXPENDITURE
NET (EXPENDITURE)/INCOME BEFORE NET
(LOSSES)/GAINS ON ASSETS
(Loss)/gain on foreign exchange
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
Net movement in funds
TOTAL FUNDS CARRIED FORWARD|Unrestricted
funds
2021
£
28,507
198
28,705
248,811
22,896
271,707
(243,002)
(2,659)
(245,661)
788,677
(245,661)
543,016|Total
funds
2021
£
28,507
198
28,705
248,811
22,896
271,707
(243,002)
(2,659)
(245,661)
788,677
(245,661)
543,016|Total
funds
2020
£
930,253
339
930,592|
|---|---|---|---|
||||187,637
4,149
191,786|
||||738,806
747
739,553|
||||49,124
739,553
788,677|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 7 to 12 form part of these financial statements.
Page 5
## THE LITTLE CHARITY
BALANCE SHEET AS AT 30 JUNE 2021
|Note
CURRENT ASSETS
Cash at bank and in hand
Creditors: amounts falling due within one year
9
NET CURRENT ASSETS
TOTAL NET ASSETS
CHARITY FUNDS
Restricted funds
10
Unrestricted funds
10
TOTAL FUNDS|2021
£
546,495
(3,479)|2021
£
543,016
543,016
-
543,016
543,016|2020
£
791,077
(2,400)|2020
£
788,677|
|---|---|---|---|---|
|||||788,677|
|||||-
788,677|
|||||788,677|
The financial statements were approved and authorised for issue by the Trustees on 18 September 2021 and signed on their behalf by:
ANTHONY TABATZNIK Trustee
The notes on pages 7 to 12 form part of these financial statements.
Page 6
THE LITTLE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
## 1. ACCOUNTING POLICIES
- 1.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Little Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## 1.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## 1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## 1.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Page 7
THE LITTLE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
## 1. ACCOUNTING POLICIES (CONTINUED)
- 1.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
- 1.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
- 1.7 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## 1.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## 2. INCOME FROM DONATIONS AND LEGACIES
|Donations
Gift aid|Unrestricted
funds
2021
£
28,507
-
28,507|Total
funds
2021
£
28,507
-
28,507|Total
funds
2020
£
915,000
15,253
930,253|
|---|---|---|---|
## 3. INVESTMENT INCOME
||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2021|2021|2020|
||£|£|£|
|Investment income|198|198|339|
Page 8
THE LITTLE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
## 4. ANALYSIS OF GRANTS
|Grants to
Institutions
2021
£
Unrestricted
248,811
Grants to
Institutions
2020
£
Unrestricted
187,637
The Charity has made the following material grants to institutions during the year:
2021
£
Name of institution
Artivism Now
20,000
Corruption watch
-
Kiln Theatre Limited
95,000
Prism The Gift Fund
20,000
Sherrardswood School
20,673
Synchronicity Earth
10,000
The Insead Trust
-
The Jewish Council
10,000
The Real Farming
-
Trees of Life Productions
-
Ubuntu Pathways
38,890
Yachad
10,000
224,563
Other grants to institutions
24,248
248,811|Total
funds
2021
£
248,811|
|---|---|
||Total
funds
2020
£
187,637|
||2020
£
-
17,000
-
-
16,549
-
50,000
10,000
10,000
50,000
-
-|
||153,549
34,088|
||187,637|
Page 9
THE LITTLE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
## 5. ANALYSIS OF EXPENDITURE BY ACTIVITIES
|Grant funding
of activities
2021
£
Unrestricted
248,811
Grant funding
of activities
2020
£
Unrestricted
187,637
ANALYSIS OF SUPPORT COSTS
Accountancy
Bank charges
Legal and professional
Staff costs
6.
INDEPENDENT EXAMINER'S REMUNERATION
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts|Support costs
2021
£
22,896
Support costs
2020
£
4,149
Total
funds
2021
£
1,620
397
1,572
19,307
22,896
2021
£
750|Total
funds
2021
£
271,707|
|---|---|---|
|||Total
funds
2020
£
191,786|
|||Total
funds
2020
£
1,500
1,629
1,020
-
4,149|
|||2020
£
750|
Page 10
THE LITTLE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
## 7. STAFF COSTS
|Wages and salaries
Social security costs
The average number of persons employed by the Charity during the year was as
Administration|2021
£
17,500
1,807
19,307
follows:
2021
No.
1|2020
£
-
-|
|---|---|---|
|||-|
|||2020
No.
-|
No employee received remuneration amounting to more than £60,000 in either year.
## 8. TRUSTEES' REMUNERATION AND EXPENSES
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL). During the year ended 30 June 2021, no Trustee expenses have been incurred (2020 - £NIL).
## 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|Other taxation and social security
Accruals and deferred income|2021
£
929
2,550
3,479|2020
£
-
2,400|
|---|---|---|
|||2,400|
Page 11
THE LITTLE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
## 10. STATEMENT OF FUNDS
## STATEMENT OF FUNDS - CURRENT YEAR
||Balance at 1|Balance at 1|||Gains/|Balance at 30|
|---|---|---|---|---|---|---|
||July|2020|Income|Expenditure|(Losses)|June 2021|
|||£|£|£|£|£|
|Unrestricted funds|||||||
|General Funds - all funds|788,677||28,706|(271,708)|(2,659)|543,016|
||||||||
|STATEMENT OF FUNDS - PRIOR YEAR|||||||
||||Balance at|||Balance at|
||||1 July 2019|Income|Expenditure|30 June 2020|
||||£|£|£|£|
|Unrestricted funds|||||||
|General Funds - all funds|||49,124|930,592|(191,039)|788,677|
Page 12