**Charity Registration No. 1128521**
## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2021**
## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Nigel Ross Lynne Ross Mark Ross Paul Ross **Charity number** 1128521 **Registered office** 8/10 Hallam Street London W1W 6NS **Accountants** HW Fisher LLP Acre House 11-15 William Road London NW1 3ER **Independent Examiner** Andrew Rich c/o HW Fisher LLP Chartered accountants Acre House 11-15 William Road London **Bankers** Lloyds Bank Private Banking 21-23 Hill Street London W1J 5JW
## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 11|
## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
The trustees present their report and financial statements for the year ended 5 April 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Deed of Trust , the Charities Act 2011 and “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 from 1 January 2019)”.
## **Objectives and activities**
The charity's objective as set out in the Charitable Trust Deed, is for the trustees to apply capital and income to or towards or for the benefit or furtherance of such charitable purposes or charitable institutions at their absolute discretion.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
During the year the Trust generated income resources of £204,884 (2020: £213,390) which enabled the charity to make 9 (2020: 1 9) grants.
The trustees have complied with their duty in section 17 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission.
## **Financial review**
The trust received income from rents which amounted to £179,595 (2020 : £194,215) and donations of £25,289 (2020 : £19,175) .
The trustees own a number of commercial properties which receive rental income. During the year the trustees purchased two investment properties.
As shown in the statement of financial activities, as at 5 April 20 21 the net increase in funds for the year was £125,090 (2020 : net increase of £67,515) .
## **Reserves Policy**
It is the policy of the Charity to maintain unrestricted funds (free reserves) at a level which is sufficient to cover management and administration costs and to respond to emergency applications for grants which arise from time to time. In situations where the income is insufficient to meet the annual expenditure, the reserves are required to make up any shortfall out of capital. The trustees are content that the level of reserves held is sufficient for this purpose.
The unrestricted funds of the Charity as at 5 April 20 21 amounted to £2,311,860 (2020 : £2,1 86,770 ) .
## **Grant Making Policy**
The trustees' grant making policy is generally to make donations to registered charitable organisations (not individuals) which support a wide range of causes.
The trustees reviewed and accepted grant applications during the year under review. During the year the Trust made 9 (2020: 1 9) grants totalling £120,470 (20 20: £ 145,124 ).
## **Risk**
The trustees ha ve assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Covid-19**
The trustees have considered the impact of Covid-19 on the charity. Al though Covid -19 had a limited impact on the year under review , it is has had a far greater impact on the period since 5 April 2020, with a number of tenants requiring rent concessions to survive. However, as the charity has minimal overhead costs to cover and the ability to reduce charitable expenditure in line with any decreases in income, the trustees are confident that the charity has sufficient resources to continue in operation for the foreseeable future.
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## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
## **Structure, governance and management**
The Lynne and Nigel Ross Charitable Trust is registered with the Charity Commissioners (No 1128521) and constituted by Deed of Trust dated 30 January 2009.
The trustees who served during the year and up to the date of signature of the financial statements were: Nigel Ross Lynne Ross Mark Ross Paul Ross
The trustees have the power to appoint new trustees, and any one trustee can retire at any time they see fit. The minimum number of trustees is three. The trustees meet to assess grant applications and to review and accept individual grant applications during the year.
## **Plans for future periods**
It is the trustees' intention to continue to review grant applications in the future and make donations where they see fit.
The trustees' r eport was approved by the Board of Trustees.
..............................
## **Mark Ross**
> Trustee 23 Mar 2022 Dated: .........................
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## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
I report to the trustees on my examination of the financial statements of The Lynne and Nigel Ross Charitable Trust (the charity) for the year ended 5 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 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all 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 financial statements in accordance with Accounting and Reporting by 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 now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019 .
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 financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
## Andrew Rich
Andrew Rich Chartered Accountant c/o HW Fisher LLP Chartered Accountants Acre House 11-15 William Road London NW1 3ER
23 Mar 2022
Dated: .........................
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## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2021**|2020|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations and legacies|**3**|25,289|19,175|
|Investments|**4**|179,595|194,215|
|**Total income**||204,884|213,390|
|**Expenditure on:**||||
|Raising funds|**5**|10,548|11,702|
|Charitable activities|**6**|124,670|151,001|
|**Total resources expended**||135,218|162,703|
|Net gains/(losses) on investments|**11**|55,424|16,828|
|**Net income for the year/**||||
|**Net movement in funds**||125,090|67,515|
|Fund balances at 6 April 2020||2,186,770|2,119,255|
|**Fund balances at 5 April 2021**||2,311,860|2,186,770|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **BALANCE SHEET**
## _**AS AT 5 APRIL 2021**_
||||**2021**|||**2020**||
|---|---|---|---|---|---|---|---|
||**Notes**|**£**|**£**|**£**|**£**|**£**|**£**|
|**Fixed assets**||||||||
|Investment properties|**12**|||2,252,500|||2,122,500|
|**Current assets**||||||||
|Debtors|**13**|20,666|20,666||49,796|49,796||
|Cash at bank and in hand||60,016|60,016||63,287|63,287||
|||80,682|80,682||113,083|113,083||
|**Creditors: amounts falling due within one year**|**14**|(21,322)|||(48,813)|||
|Net current assets||||59,360|||64,270|
|**Total assets less current liabilities**||||2,311,860|||2,186,770|
|**Income funds**||||||||
|Unrestricted funds - general||||2,311,860|||2,186,770|
|||||2,311,860|||2,186,770|
23 Mar 2022
The financial statements were approved by the Trustees on .........................
.............................. Mark Ross **Trustee**
- 5 -
## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
## **1 Accounting policies**
## **Charity information**
The Lynne and Nigel Ross Charitable Trust is a registered charity. The charity meets the definition of a public benefit entity under FRS102.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's Deed of Trust, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
The trustees have considered the impact of the Covid-19 pandemic on the charity . Al though Covid -19 had a limited impact on the year under review , it is has had a far greater impact on the period since 5 April 2020, with a number of tenants requiring rent concessions to survive. However, as the charity has minimal overhead costs to cover and the ability to reduce charitable expenditure in line with any decreases in income, the trustees are confident that the charity has sufficient resources to continue in operation for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## **1.4 Incoming resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
Investment income is accounted for on a receivable basis.
## **1.5 Resources expended**
Resources expended are recognised in the period to which they relate.
Direct charitable expenditure comprises all the expenditure relating to the activities carried out to achieve the charitable objectives.
Expenditure on raising funds relates to the costs of managing the charity's investment properties .
Support costs relate to the administrative costs of running the charity.
Governance costs relate to the costs of compliance with constitutional and statutory requirements .
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## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Investment properties**
Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in net income/ (expenditure) for the year.
The freehold properties are included at market value at 5 April 2017. The trustees have decided to revalue the properties every 5 years or earlier should the trustees consider there to be a material movement in value. Any gain or loss on revaluation is taken to the Statement of Financial Activities.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand and at bank.
## **1.8 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its 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.
## **1.9 Grants payable**
These are recognised when approval for payment has been given by the trustees, subject to any necessary conditions having been met by the beneficiaries.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. Material estimates and judgements are set out below.
## **Valuation of investment properties**
Investment properties are held at fair value. Further details about the basis of valuation can be found in accounting policy 1.6.
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## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
|**3**
**4**
**5**|**Donations and legacies**
**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2021**
2020
**£**
£
Donations and gifts
25,289
19,175
**Investments**
**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2021**
2020
**£**
£
Rental income
179,595
194,215
**Raising funds**
**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2021**
2020
**£**
£
Property management expenses
Council tax
-
94
Legal and professional
9,278
10,058
Sundry
1,270
1,550
10,548
11,702|**Donations and legacies**
**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2021**
2020
**£**
£
Donations and gifts
25,289
19,175
**Investments**
**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2021**
2020
**£**
£
Rental income
179,595
194,215
**Raising funds**
**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2021**
2020
**£**
£
Property management expenses
Council tax
-
94
Legal and professional
9,278
10,058
Sundry
1,270
1,550
10,548
11,702|
|---|---|---|
|||11,702|
- 8 -
## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
## **6 Charitable activities**
|Grant funding of activities (see note 7)
Share of support costs (see note 8)
Share of governance costs (see note 8)
**Grants payable**
Alzheimer's Society
Chai-Lifeline Cancer Care
Childhood First
Community Security Trust
Heart Cells Foundation
Los Angeles Museum of the Holocaust
Jewish Blind & Disabled
Jewish Care
Jackson Health Foundation
MIND
Kisharon
Nightingale Hammerson
Prostate Cancer UK
Reverse Rett
Sinai Jewish Day School
The Brain Tumour Charity
The Tavistok Trust for Aphasia
United synagoge
The Central British Fund for World Jewish Relief
Youth Aliyah|**2021**
**£**
120,470
-
4,200
124,670
**2021**
**£**
-
6,250
-
6,250
-
29,428
-
15,625
3,668
-
-
6,250
-
1,000
-
-
2,000
-
50,000
-
120,470|2020
£
145,124
1,859
4,018|
|---|---|---|
|||151,001|
|||2020
£
1,000
5,000
3,000
5,000
2,000
41,194
1,000
12,500
-
500
500
5,000
2,500
3,000
3,500
250
2,000
560
46,620
10,000|
|||145,124|
## **7 Grants payable**
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**THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
|**8**
**Support costs**
**Support costs**
**Governance**
**costs**
**£**
**£**
Travel costs
-
-
Bank charges
-
-
Other
-
-
Independent examination
fees
-
4,200
-
4,200
Analysed between
Charitable activities
-
4,200|**2021**
Support costs
Governance
costs
**£**
£
£
-
1,669
-
-
60
-
-
130
-
4,200
-
4,018
4,200
1,859
4,018
4,200
1,859
4,018|2020
£
1,669
-
130
4,018|
|---|---|---|
|||5,877|
|||5,877|
## **9 Trustees**
None (20 20 : none) of the trustees, n or any persons connected with them , received any remuneration from the charity during the year.
None of the trustees was reimbursed nil for travel expenses during the year (20 20 : o n e trustee w as reimbursed for expenses for £ 1,669 ).
## **10 Employees**
There were no employees during the current or prior year.
## **11 Net gains/(losses) on investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**general**|general|
||**2021**|2020|
||**£**|£|
|Revaluation of investment properties|55,424|16,828|
- 10 -
## **THE LYNNE AND NIGEL ROSS CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
## **12 Investment property**
|**Fair value**
At 6 April 2020
Additions
Net gains or losses through fair value adjustments
At 5 April 2021|**2021**
**£**
2,122,500
74,576
55,424|
|---|---|
||2,252,500|
The properties were last revalued by the trustees on 5 April 20 21 on an open market value basis .
## **13 Debtors**
|**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Amounts due from managing agents
Rent receivable|**2021**
**£**
5,546
15,120
20,666|**2020**
**£**
8,683
41,113|
|||49,796|
## **14 Creditors: amounts falling due within one year**
|**Notes**
Other taxation and social security
Government grants
Trade creditors
Other creditors
Accruals and deferred income|**2021**
**£**
-
3,047
4,200
9,875
4,200
21,322|**2020**
**£**
1,394
28,853
4,318
10,048
4,200|
|---|---|---|
|||48,813|
Deferred income relates to rent received in advance.
## **15 Related party transactions**
Mr Nigel Ross is a Trustee of the LAMOTH (Los Angeles Museum of the Holocaust) . During the accounting year ended 5 April 20 21 the trust made a donation of £29,428 (2020: £ 41,194) to the charity.
Also, Mr Nigel Ross and Mrs Lynne Ross are Directors of Ambercroft Properties Limited, company number 01253145. During the accounting year ended 5 April 20 21 the trust received a donation of £10,000 (2020: £ 10 ,0 00) .
Mrs Lynne Ross is also a Trustee of the Tavistock Trust for Aphasia, charity registration number 1131611. During the accounting year ended 5 April 20 21 the trust made a donation of £2,000 (2020: £ 2 , 00 0 ) to the charity.
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