**REGISTERED COMPANY NUMBER: 06930982 (England and Wales) REGISTERED CHARITY NUMBER: 1131276**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 30 June 2021**
## **for**
**The F W Trust Ltd**
Martin+Heller 5 North End Road London NW11 7RJ
**The F W Trust Ltd**
## **Contents of the Financial Statements for the Year Ended 30 June 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|10|
|**Detailed Statement of Financial Activities**||11||
**The F W Trust Ltd**
## **Report of the Trustees for the Year Ended 30 June 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The charity's objective and its principle activity continue to be that of the promotion of the orthodox jewish faith and the relief of poverty.
## **Significant activities**
The charity received £45,615 as its investment income during the year.
Also, during the year, 25 shares in Brock House Investments Limited were donated to the charity.
## **Public benefit**
The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives and in planning future activities.
## **Grantmaking**
Grants are made to charitable institutions and organisations which accord with objects of the Charity.
## **ACHIEVEMENT AND PERFORMANCE**
## **Internal and external factors**
The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.
## **FINANCIAL REVIEW**
## **Financial position**
The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to institutions during the period from the income received from the investments.
## **Reserves policy**
The charity does not maintain a reserve policy, as reserves are distributed when they become available, at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.
## **FUTURE PLANS**
The trustees plan to maximise the level of income received whilst continuing to make distributions in accordance with their grant making policy and to ensure that an appropriate level of reserves is maintained.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a company, limited by guarantee, as defined by the companies act 2006.
## **Recruitment and appointment of new trustees**
The trustees have no beneficial interest in the company as it is a company limited by guarantee and are chosen by agreement of trustees at an annual meeting. The choice is based on applicants' business and community knowledge.
New trustees are subject to trustee induction training which includes as understanding of the content of the Memorandum and Articles of Association, their legal obligations under Charity Act and Company Law, the organisational structure of charity and the recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events which enhance their knowledge and skill thereby improving the performance of their role.
## **Wider network**
At present The F W Trust does not consider itself part of a wider network.
Page 1
**The F W Trust Ltd**
**Report of the Trustees for the Year Ended 30 June 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
06930982 (England and Wales)
**Registered Charity number** 1131276
## **Registered office**
5 North End Road London NW11 7RJ
## **Trustees**
J S Weiser J Sofer B Weiser J Frankel (appointed 8.11.21)
## **Independent Examiner**
Martin+Heller 5 North End Road London NW11 7RJ
## **Bankers**
Barclays Bank Plc Walthamstow 3 Leicester LE87 2BB
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ J S Weiser - Trustee
Page 2
**Independent Examiner's Report to the Trustees of The F W Trust Ltd**
## **Independent examiner's report to the trustees of The F W Trust Ltd ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
A Heller Martin+Heller 5 North End Road London NW11 7RJ Date: .............................................
Page 3
**The F W Trust Ltd**
## **Statement of Financial Activities for the Year Ended 30 June 2021**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
Donations
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|30.6.21
Unrestricted
fund
£
25
45,615
45,640
101,050
18,058
119,108
(73,468)
2,398,899
2,325,431|30.6.20
Total
funds
£
-
84,065|
|---|---|---|
|||84,065
47,235
17,616|
|||64,851|
|||19,214
2,379,685|
|||2,398,899|
The notes form part of these financial statements
Page 4
**The F W Trust Ltd**
## **Balance Sheet 30 June 2021**
|Notes
**FIXED ASSETS**
Investments
6
**CURRENT ASSETS**
Investments
7
Cash at bank
**CREDITORS**
Amounts falling due within one year
8
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
9
Unrestricted funds
**TOTAL FUNDS**|30.6.21
Unrestricted
fund
£
100
2,326,351
6,180
2,332,531
(7,200)
2,325,331
2,325,431
2,325,431
2,325,431
2,325,431|30.6.20
Total
funds
£
75
2,395,736
9,088
2,404,824
(6,000)
2,398,824
2,398,899
2,398,899
2,398,899
2,398,899|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of 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.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
J S Weiser - Trustee
The notes form part of these financial statements
Page 5
**The F W Trust Ltd**
## **Notes to the Financial Statements for the Year Ended 30 June 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, 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 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
## **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.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **2. INVESTMENT INCOME**
## **3.**
|**INVESTMENT INCOME**||||
|---|---|---|---|
|Curr asset inv income
**GRANTS PAYABLE**
Donations|30.6.21
£
45,615
30.6.21
£
101,050||30.6.20
£
84,065
30.6.20
£
47,235|
|Amud Hatzdokoh Trust|||20,000|
|BATTAC|||20,000|
|Yeshuos Shabbos|||20,000|
|Zoreya Tzedokos Ltd|||10,500|
|Y T V London|||8,000|
|Chasdei Aharon Ltd|||6,600|
|Less than £5,000|||15.950|
|||||
|||||
||||101,050|
|||||
|||||
Page 6
continued...
**The F W Trust Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2021**
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
**Charitable activities**
Donations
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**6.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 July 2020
Additions
At 30 June 2021
**NET BOOK VALUE**
At 30 June 2021
At 30 June 2020|Unrestricted
fund
£
84,065
47,235
17,616
64,851
19,214
2,379,685
2,398,899
Shares in
group
undertakings
£
75
25
100
100
75|
|---|---|
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
Brock House Investments Limited Registered office: in England and Wales
continued...
Page 7
**The F W Trust Ltd**
**Notes to the Financial Statements - continued for the Year Ended 30 June 2021**
## **6. FIXED ASSET INVESTMENTS - continued**
Nature of business: Property investments
|%
Class of share:
holding
Ordinary
100 (75%: 2020)
Aggregate capital and reserves
Profit/(Loss) for the year
**7.**
**CURRENT ASSET INVESTMENTS**
Unlisted investments
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Easton Fabrics Ltd
Accrued expenses
**9.**
**MOVEMENT IN FUNDS**
At 1/7/20
£
**Unrestricted funds**
General fund
2,398,899
**TOTAL FUNDS**
2,398,899
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
45,640
**TOTAL FUNDS**
45,640|||||
|---|---|---|---|---|
|||£||£|
|||30.11.20||30.5.19|
|||493,266||142,560|
|||350,706||(29,935)|
|||30.6.21
£
2,326,351
30.6.21
£
4,800
2,400
7,200
Net
movement
in funds
£
(73,468)
(73,468)
Resources
expended
£
(119,108)
(119,108)||30.6.20
£
2,395,736
30.6.20
£
4,800
1,200
6,000
At
30/6/21
£
2,325,431
2,325,431
Movement
in funds
£
(73,468)
(73,468)|
||||||
||||||
||||||
continued...
Page 8
**The F W Trust Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2021**
## **9. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|At 1/7/19
£
**Unrestricted funds**
General fund
2,379,685
**TOTAL FUNDS**
2,379,685
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
84,065
**TOTAL FUNDS**
84,065|Net
movement
in funds
£
19,214
19,214
Resources
expended
£
(64,851)
(64,851)|At
30/6/20
£
2,398,899|At
30/6/20
£
2,398,899|
|---|---|---|---|
|||2,398,899||
|||Movement
in funds
£
19,214
19,214||
||||19,214|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/7/19
£
2,379,685
2,379,685|Net
movement
in funds
£
(54,254)
(54,254)|At
30/6/21
£
2,325,431|
|---|---|---|---|
||||2,325,431|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
129,705
129,705|Resources
Movement
expended
in funds
£
£
(183,959)
(54,254)
(183,959)
(54,254)|Resources
Movement
expended
in funds
£
£
(183,959)
(54,254)
(183,959)
(54,254)|
|---|---|---|---|
||||(54,254)|
continued...
Page 9
**The F W Trust Ltd**
**Notes to the Financial Statements - continued for the Year Ended 30 June 2021**
## **10. RELATED PARTY DISCLOSURES**
The Charity holds 100% of the issued share capital of Brock House Investments Ltd, registered in England and Wales.The Charity has made an investment loan to the company at an interest fixed rate of 2% on the loan amount. This loan is secured by way of a legal charge on the freehold property owned by the company.
Page 10
**The F W Trust Ltd**
## **Detailed Statement of Financial Activities for the Year Ended 30 June 2021**
|**Detailed Statement of Financial Activities**
**for the Year Ended 30 June 2021**|||
|---|---|---|
||30.6.21|30.6.20|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|25|-|
|**Investment income**|||
|Curr asset inv income|45,615|84,065|
|**Total incoming resources**|45,640|84,065|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Grants to institutions|101,050|47,235|
|**Support costs**|||
|**Management**|||
|Legal & Professional fees|16,782|16,333|
|Accountancy|1,200|1,200|
|Bank charges|76|83|
||18,058|17,616|
|Total resources expended|119,108|64,851|
|**Net (expenditure)/income**|(73,468)|19,214|
This page does not form part of the statutory financial statements
Page 11