REGISTERED COMPANY NUMBER: 06715806 (England and Wales)
REGISTERED CHARITY NUMBER: 1126279
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE PERIOD
31 DECEMBER 2022 TO 29 DECEMBER 2023
FOR
FREILICH FAMILY FOUNDATION
MGR Paris Limited
Chartered Accountants
Russell House
140 High Street
Edgware
HA8 7LW
FREILICH FAMILY FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023
|
Page |
Report of the Trustees |
1 to 2 |
Statement of Financial Activities |
3 |
Balance Sheet |
4 |
Notes to the Financial Statements |
5 to 8 |
FREILICH FAMILY FOUNDATION (REGISTERED NUMBER: 06715806)
REPORT OF THE TRUSTEES FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
with the financialstatementsof the charityfor the period 31 December 2022 to 29 December 2023. The trustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicable to
charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and
Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and activities
FreilichFamilyFoundationisacharitythatfocussesonreliefofpoverty,educationandwelfarebothintheUK and
Israel.
Achievement and Performance
We have made donations of 405,917 (2022:178,910) during the year.
Declaration of public benefit
TheTrusteeshavepaiddueregardtotheCharityCommission'sguidanceonpublicbenefitindecidingwhat activities
the Charity should undertake and donates to a wide range of causes including individuals, education and healthcare.
Objectives for the year and plans for the future
The overallobjectiveof anygivenyearfor the FreilichFamilyFoundationis to ensurethatit cancontinueto progress
with its focus on relief of poverty, education and welfare both in the UK and Israel.
FINANCIAL REVIEW
Reserves policy
TheCharityhasapolicytomaintainunrestrictedfunds,whicharethefreereservesoftheCharity,atalevel which
providessufficientfundstocovermanagementandadministrationcostsinthemediumterm,andtocontinue to
expand our activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Freilich Family Foundation was set up as a Company Limited by Guarantee 6 October 2008
Freilich Family Foundation is a Charity registered with the Charity Commission under registration number 1126279.
The Trustees encompassindividualswith diverse backgroundsand experience.There is no minimum or maximum time
that an individual may be a Trustee. The Trustees meet quarterly to discuss donations and grants.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06715806 (England and Wales)
Registered Charity number
1126279
Registered office
5 Sentinel Square
Hendon
London
NW4 2EL
Trustees
L C Freilich Consultant
Mrs S S Freilich Consultant
Page 1
FREILICH FAMILY FOUNDATION (REGISTERED NUMBER: 06715806)
REPORT OF THE TRUSTEES
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023
REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary
B Grossman
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................
L C Freilich - Trustee
Page 2
FREILICH FAMILY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023
|
|
Period |
|
|
|
31.12.22 |
|
|
|
to |
Year Ended |
|
|
29.12.23 |
30.12.22 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
INCOME AND ENDOWMENTS FROM |
|
|
|
Donations and legacies |
|
405,105 |
180,251 |
EXPENDITURE ON |
|
|
|
Charitable activities |
|
|
|
Grants to institutions |
|
405,917 |
178,910 |
NET INCOME/(EXPENDITURE) |
|
(812) |
1,341 |
RECONCILIATION OF FUNDS |
|
|
|
Total funds brought forward |
|
1,942 |
601 |
TOTAL FUNDS CARRIED FORWARD |
|
1,130 |
1,942 |
The notes form part of these financial statements
Page 3
FREILICH FAMILY FOUNDATION (REGISTERED NUMBER: 06715806)
BALANCE SHEET 29 DECEMBER 2023
|
|
29.12.23 |
30.12.22 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
CURRENT ASSETS |
|
|
|
Cash at bank |
|
1,130 |
1,942 |
NET CURRENT ASSETS |
|
1,130 |
1,942 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
1,130 |
1,942 |
NET ASSETS |
|
1,130 |
1,942 |
FUNDS |
4 |
|
|
Unrestricted funds |
|
1,130 |
1,942 |
TOTAL FUNDS |
|
1,130 |
1,942 |
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006for the
period ended 29 December 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheperiod ended
29 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)ensuringthatthecharitablecompanykeepsaccountingrecordsthatcomplywithSections386and387of the
Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
.............................................
L C Freilich - Trustee
The notes form part of these financial statements
Page 4
FREILICH FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
prepared in accordancewith the Charities SORP (FRS 102) 'Accountingand Reportingby Charities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financialstatementsare presented in sterling which is the functionalcurrency of the company and rounded
to the nearest £.
Income
All income is recognised in the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it
is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccruals basis
andhasbeenclassifiedunderheadingsthataggregateallcostrelatedto thecategory.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Grants offered subject to conditionswhich have not been met at the year end date are noted as a commitment
but not accrued as expenditure.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe 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.
Debtors and creditors receivable/payable within one year
Debtorsandcreditorswithnostatedinterestrateandreceivableorpayablewithinoneyeararerecorded at
transactionprice.Anylossesarisingfromimpairmentarerecognisedin theStatementof FinancialActivities in
other resources expended.
Cash and Cash equivalents
Cashandcashequivalentincludecashinhand,depositsheldatcallwithbanks,othershortterm liquid
investments with original maturities of three months or less.
continued...
Page 5
FREILICH FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023
2. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheperiodended29December2023norfor the
year ended 30 December 2022.
Trustees' expenses
Therewerenotrustees'expensespaidfortheperiodended29December2023norfortheyear ended
30 December 2022.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
|
|
|
Unrestricted |
|
|
|
fund |
|
|
|
£ |
INCOME AND ENDOWMENTS FROM |
|
|
|
Donations and legacies |
|
|
180,251 |
EXPENDITURE ON |
|
|
|
Charitable activities |
|
|
|
Grants to institutions |
|
|
178,910 |
NET INCOME |
|
|
1,341 |
RECONCILIATION OF FUNDS |
|
|
|
Total funds brought forward |
|
|
601 |
TOTAL FUNDS CARRIED FORWARD |
|
|
1,942 |
MOVEMENT IN FUNDS |
|
|
|
|
|
Net |
|
|
At |
movement |
At |
|
31.12.22 |
in funds |
29.12.23 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
1,942 |
(812) |
1,130 |
TOTAL FUNDS |
1,942 |
(812) |
1,130 |
4. MOVEMENT IN FUNDS
continued...
Page 6
FREILICH FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023
4. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
405,105
405,105 |
Resources
Movement
expended
in funds
£
£
(405,917)
(812)
(405,917)
(812) |
|
|
|
Comparatives for movement in funds
|
|
Net |
|
|
At |
movement |
At |
|
31.12.21 |
in funds |
30.12.22 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
601 |
1,341 |
1,942 |
TOTAL FUNDS |
601 |
1,341 |
1,942 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
180,251
180,251 |
Resources
Movement
expended
in funds
£
£
(178,910)
1,341
(178,910)
1,341 |
|
|
|
continued...
Page 7
FREILICH FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023
5. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 29 December 2023.
6. ULTIMATE CONTROLLING PARTY
The ultimate controlling party is Mr L Freilich.
Page 8