paperweight.org.uk The Paperweight Trust **Report of the Trustees & unaudited financial statements** Year ended 31st July 2024 **Including our Impact Report 2024/2025** Registered company number: 07705745 (England and Wales) Registered charity number: 1146302 Design by ## Every day, people overwhelmed by stress and struggling with life’s most difficult challenges turn to Paperweight. As a vital source of free guidance, advocacy and resolution, we support individuals facing complex family law, legal, financial, welfare, post-bereavement and administrative matters. With over 20,000 people helped to date, Paperweight has become not only a trusted lifeline to those in crisis, but also indispensable to many community organisations who recognise our unique and essential role within the Jewish communal landscape. We continue to have a positive impact and make a tangible difference to the lives of those who rely on Paperweight’s support at a time when there is such an explosion of need. ## Benjamin Conway, Chair of Trustees ## **Contents** Report of the Trustees 3-21 Letter from the CEO 22 Independent Examiner’s Report 24 Statement of Financial Activities 25 Statement of Financial Position 26 Statement of Cash Flows 27 Notes to the Statement of Cash Flows 28 Notes to the Financial Statements 29-37 Detailed Statement Of Financial Activities 38 -39 **2** ## **Report of the Trustees for the year ended 31st July 2024** **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 31st July 2024.** **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 lreland (FRS 102) (effective 1 January 2019).** **3** Objectives & Activities ## **Charitable Aims** **The relief of financial hardship and emotional stress by the provision of free practical advice and assistance primarily to persons who are members of the Jewish Community resident in the UK who through lack of means, knowledge or as a result of circumstances such as bereavement, divorce or any other personal circumstances are unable to access and/or obtain such advice.** ## **Objectives** **Paperweight is a voluntary sector charity which is the dedicated Jewish Community’s Advice Centre, offering free, tailored guidance and practical support across a wide range of legal, financial, welfare and administrative matters. We aim to help those, predominantly in the Jewish community who are vulnerable and struggling with the “administration of life”, offering time, expertise and personal attention to empower them to regain control of their problems and continue with confidence. Our help** **spans a wide range of areas including, but not limited to : elder care, welfare & benefits, such as claims and appeals; debt; housing; family; employment; LPAs/ deputyships/appointeeship; post-death practical support; navigation of the social care system and help with paperwork.** **The FCA accredited Money Advice Team has come to the fore in many areas of domestic life but particularly with its response to the government’s determination to accelerate the roll-out of Universal Credit. In theory Universal Credit’s aims dovetail perfectly with Paperweight’s desire to aid clients to transition, when possible, from reliance on Benefits to income generated by paid work.** **However as Paperweight, and many observers have noted, the theory and practice do not yet hold good in the real world, and many of our clients require even more hand-holding to navigate the severe complexities and unintended paradoxes and penalties of Universal Credit.** **When I lost my job, I didn’t just lose my income, I lost my sense of self. It felt like I was drowning. Every new bill, every mounting debt added to a heavy weight of anxiety, shame and fear. Reaching out to Paperweight was a turning point. With compassion and real expertise, they helped me peel back those layers. It wasn’t just about getting back on my feet, it was about finding myself again. - Devorah** **The Paperweight Trust | Report of the trustees & financial statements** **5** Strategic Report 2025 ## **Foundation layer: Underpinning every layer is hope** **Hope is not just an emotion, it’s something we build together, layer by layer.** **At Paperweight, we provide the foundation for people in crisis, helping them overcome overwhelming situations with expert guidance, advocacy and empathy. Whether it’s financial struggles, care issues, or the burden of bureaucracy, we stand alongside those in need, speaking up for them when they can’t, ensuring they are never alone.** **This year, as the cost-of-living crisis deepens and people are increasingly unnerved by proposed future cuts to welfare benefits, our work is more critical** **than ever. With every call we answer and every problem we help solve, we lay another brick in the foundation of hope.** **Our free services are a vital lifeline for many more than we could have anticipated when the charity was established over 13 years ago. We continue to empower increasing numbers of individuals and their families to regain stability and move forward with confidence.** **Our expert team has been there every step of the way for our clients. With compassion at our core, we’ve helped people to rebuild their lives with dignity. And at the heart of it all is hope - the foundation that makes every new** **beginning possible.** _**Hope is not just a feeling, it’s built, layer by layer. This year, Paperweight has been a vital lifeline for those facing crisis, guiding them through complex challenges with care, expertise and unwavering support.**_ **83%** _**of Paperweight clients said that contacting Paperweight was the first time they felt hopeful about their situation.**_ **7** ## **Foundation Stones:** ## **Our layers of hope run deep** ## **Paperlite** **For those who need a regular helping hand to cope with domestic administrative matters that our daily living brings. Monthly visits from dedicated caseworkers brings the paperwork down to a manageable level and helps you keep it that way, enabling so many to retain their independence and dignity.** ## **When juggling forms, deadlines and unclear processes, Paperlite offers a helping hand. This regular support ensures that all paperwork is up to date, all bills have been paid, benefits and income are correctly received and no entitlement is missed. But it’s more than admin, it’s a consistent, caring presence for clients who may also just need someone to listen & understand.** ## **Family Law Clinics** **Legal challenges don’t exist in a vacuum, they often unfold alongside emotional and family upheaval. In our new, expanded London HQ, Paperweight now hosts confidential, face-to-face Family Law Clinics. These sessions provide expert legal support in sensitive matters such as separation, divorce and child custody, ensuring individuals receive clear guidance for some of life’s most difficult challenges.** **Our Family Law Caseworkers help clients prepare for meetings, help them make informed decisions during emotionally difficult times and are with them every step of the way including:** ## - **Divorce applications/ statements** - **• Financial agreements • Occupation Orders • Non-molestation orders** - **Child arrangement applications** - **• Form completion • Gett application & process • McKenzie Friends** **The Paperweight Trust | Report of the trustees & financial statements** **8** ## **Welfare & Benefits** **The welfare and benefits system is complex — especially for those who are vulnerable facing personal or financial struggles. Frequent changes mean many people miss out on the support they’re entitled to.** **Paperweight’s Welfare & Benefits Team provides expert, upto-date guidance on what can be claimed and how to apply. From identifying entitlements to completing forms and supporting appeals, the team is there every step of the way. Some of the ommonly supported benefits include Universal Credit, Attendance Allowance, Personal Independence Payment and Mandatory Reconsiderations and Appeals — a vital service in constant demand.** **468 Benefits cases resolved in the past year.** **562 New benefits cases opened** ## **Money Advice Team** **Financial problems can be overwhelming. Whether it’s mounting debt or daily money worries, paperwork piles up, demands grow, and it’s easy to feel lost. Paperweight offers expert, confidential, and non-judgemental support to those in financial distress. Our FCA accredited Money Advice Team helps people regain control and move forward with confidence.** **As the only Jewish charity accredited by the Financial Conduct Authority (FCA), we’re authorised to handle regulated debts such as credit cards and mortgages — allowing us to speak directly with lenders and negotiate realistic, manageable outcomes. More than just advice, Paperweight provides practical, hands-on support every step of the way, offering clarity, reassurance, and a path to financial stability.** ## **Elder Care Hub** **Adjusting to later life can bring unique challenges - both practical and emotional. Through our Elder Care Hub, Paperweight helps individuals and families review entitlements, assess limitations in daily living, co-ordinate with care providers and manage the paperwork that can often feel overwhelming. Most importantly, we offer a compassionate guide through moments of profound change, including transitions to assisted or residential care, delivered with the sensitivity and respect every older adult deserves.** **In 2024, Paperweight’s Elder Care Hub supported over** ## **150 people** **in navigating care transitions and help clients review their entitlements.** _**Beyond our core services, Paperweight offers specialist layers of support designed to meet the complex and personal needs of specific life situations. These services ensure that no detail is overlooked and no one is left without guidance when the challenges become more nuanced or emotionally charged.**_ **The Paperweight Trust | Report of the trustees & financial statements** **9** ## **Primary layer: Being there when it matters most** **In moments of crisis, knowing someone is there to listen can make all the difference.** **At Paperweight, our Helpline Assessors are that first, steady voice, offering reassurance when uncertainty takes hold. Whether it’s a financial emergency, bailiffs looming, a legal concern, or the fallout from any one of life’s challenges, we provide the guidance people need to take the next step forward.** _**When life feels overwhelming, Paperweight is increasingly the first call people make. Our Helpline Assessors and Caseworkers provide reassurance, practical guidance and a clear path forward.**_ **With expertise and empathy, we don’t just offer advice, we offer a way through. We break down complex challenges into manageable layers. Every call is met with patience and understanding, ensuring that the right Caseworker is allocated to the issue(s) and so no-one has to go through life’s toughest moments alone. Because when it matters most, Paperweight is here to help.** **92%** _**of clients were allocated a Paperweight Caseworker within 48 hours**_ **The Paperweight Trust | Report of the trustees & financial statements** **10** ## **Transition layer: Guidance through complexity** **When life throws up obstacles, the last thing anyone needs is a maze of red tape.** **Yet for those facing challenges, the system can feel impossible to navigate alone. That’s where Paperweight steps in, cutting through the complexity, offering clear guidance and making sure no one is left to struggle in silence.** **Our team works tirelessly to untangle the fine print, advocate for those in need, and ensure people get the support they’re entitled to. Whether it’s securing benefits, negotiating debt relief, or accessing essential care, we help ease the burden so individuals and families can focus on living life again with confidence.** **87%** _**of clients said Paperweight helped them understand and take action on issues they previously found too complex to manage alone.**_ _**Wading through bureaucracy can be exhausting, especially in times of crisis. From benefits to legal matters, social care to debt relief, we untangle the complexities, supporting and advocating for those who need it most.**_ > **The Paperweight Trust | Report of the trustees & financial statements 11** ## **Upper Layers: Dignity, not just direction** **At Paperweight, support goes beyond practical guidance, it’s about restoring dignity and self-belief.** **We understand that asking for help can be difficult, which is why every interaction we have is met with compassion, not judgment. With kindness, respect and a genuine commitment, our aim is to lift people up, not just leading them forward.** **9/10** _**clients said they felt treated with dignity and respect throughout their support journey with Paperweight.**_ **Whether it’s helping someone regain control of their finances, access essential care, or untangle a legal challenge, we ensure they feel heard, valued and empowered. Because true support isn’t just about solving problems, it’s about giving people the confidence to rebuild their lives with dignity and hope.** **Paperweight offers more than just advice, we restore confidence and dignity. Every interaction is non-judgemental and underpinned by care, respect and a commitment to empowering individuals and their families.** **The Paperweight Trust | Report of the trustees & financial statements** **12** ## **Binding Layer: The Paperweight Team** **Behind every call answered and every case resolved is the unwavering dedication of the Paperweight team.** **Our team is the backbone of Paperweight. They hold it all together. The dedication of our trained Helpline Assessors and Caseworkers, who provide expertise, empathy and support can be life-changing.** **Our trained Helpline Assessors and Caseworkers are more than just problem-solvers, they are compassionate listeners, skilled pathfinders and unwavering advocates. Their expertise and empathy provide not just solutions, but a sense of security and hope for those in need.** **For many, the support they receive from our team is life-changing. The vital guidance and reassurance provided in difficult moments, alongside the commitment of our volunteers brings everything together. They are the binding force that makes Paperweight’s work possible - one call, one client, and one life at a time.** _**Paperweight’s team contributed over 45,000 hours of support in the past year resolving more than 2,000 client cases.**_ > **The Paperweight Trust | Report of the trustees & financial statements 13** ## **Hidden Layers: Meeting new Challenges** **This year has brought new and unexpected challenges, from rising economic pressures, with a deepening cost of living crisis, to shifting policies that have made accessing support even more difficult.** **navigate an evolving landscape and increasing needs of our community. Through every challenge, our mission remains the same: to provide clear guidance, unwavering support and a foundation of hope for those who need it most.** **As demand for our services has grown, so too has the complexity of the cases we handle. More people than ever are reaching out, often in deeper crisis, and our team has met the challenge head-on to ensure no one is left without help.** _**Paperweight has adapted to increased demand and shifting external pressures, demonstrating our resilience and heightened responsiveness in the face of change, meeting a**_ **Through it all, Paperweight has remained steadfast, whether handling complex policy changes or managing the increasing pressure on our helpline, we’ve found innovative solutions to keep our Caseworkers providing the expert guidance and compassionate support upon which so many rely.. As challenges continue to emerge, our commitment remains the same: to be a lifeline for those in need, no matter what lies ahead.** ## _**38% increase**_ _**in calls in 2024 from the previous year.**_ **Economic pressures, policy changes and rising demand have tested us this year. We reflect on the challenges we’ve faced and how we’ve adapted to continue delivering vital support.** **In addition, we’ve strengthened our team, streamlined processes, expanding our reach across the country and equipped our volunteers with the tools and training needed to** **14 The Paperweight Trust | Report of the trustees & financial statements** ## **Safeguarding** **Safeguarding remains a top priority at Paperweight. We have strengthened our safeguarding policies and provided updated training to all staff and volunteers. We have simplified the reporting and we work closely with external partners to ensure the highest standards of protection. Our aim is to create a safe, respectful environment for everyone we support.** ## **Risk Management** **At Paperweight, risk management is about being proactive. We focus on identifying potential issues early and putting practical measures in place to reduce risks across our operations. This includes financial controls, contingency planning, and assessing reputational risks. Our approach helps us to deliver considered and consistent support to those who rely on our services.** **“Jack has many serious health issues. Prior to this he was capable of sorting out so many things, but sadly, no longer. Paperweight has been able to relieve a lot of our worry from all the stressful situations for which we now need help. Their professionalism and availability, together with patience and kindness is second to none. Thank you so much for helping us.”** **- BC, wife of Paperweight Leeds client** **The Paperweight Trust | Report of the trustees & financial statements** **15** ## **New layers: Looking Forward** **Hope isn’t just something we provide, it’s something we continue to build. As we look to the future, our focus is on strengthening the layers of support upon which so many rely.** **From our London HQ to our regional Hubs in Leeds, Manchester and Gateshead and our satellites in Bournemouth, Brighton, Birmingham, Liverpool and Leicester, we are expanding our reach, ensuring our expertise is accessible to more people in need.** **We are also widening our support network, engaging with younger age groups and extending our services to more communities. Life’s toughest challenges don’t discriminate and neither do we. By growing our team, we can deepen our impact. The future of Paperweight is one of resilience, innovation and an unwavering dedication to helping more people take steps toward stability and hope.** **Gateshead 2.2% of the national caseload** **Manchester 8% P Leeds 6.2% of the national of the national caseload caseload P P P P P P P P** **Hope is an ongoing process and we’re always looking ahead. Our vision for the future includes strengthening our services from our offices around the country, expanding our outreach to other landed communities as well as to younger age groups.** **Paperweight expanded its reach in 2024, with a new London head office and in 6 UK cities, laying the groundwork to support an estimated 25% more clients in 2025.** **16 The Paperweight Trust | Report of the trustees & financial statements** ## **The Unseen Layer Hope Made Possible** **Behind every call answered, every client case resolved, and every life changed is an unseen force - those who make our work possible.** **The generosity of our donors, funders, and volunteers transforms hope from an idea into real, tangible support. Their commitment ensures that Paperweight remains a trusted lifeline for those facing the fallout from life’s challenges, helping turn often overwhelming challenges into manageable solutions.** **Our January 2025 Matched Fundraising Campaign has been a crucial step in securing our future, strengthening our ability to serve as a pre-eminent charity in the community. Every pound donated has been doubled in impact, allowing us to expand our reach, enhance our services and provide even more individuals with the guidance they need. With continued support, we can build on this momentum, ensuring that no one has to face life’s struggles alone.** _**Thanks to the generosity of our donors and matched funding campaign, Paperweight raised over £550,000 in January 2025, supporting operational costs and fueling vital services for the year(s) ahead.**_ ## **Fundraising Strategy** **We are actively building on our national outreach to engage with sponsors in the business and professional world throughout the UK.** **In 2021 Paperweight initiated its bi-annual national matchedfunding campaign.** **We continuously apply to national grant-making bodies.** **Regular advertising of our existing and newly rolled-out services in the We now employ a professional communities’ newspapers, retains fundraising team to extend a strong profile and attracts the knowledge of Paperweight in attention of clients and volunteers and the circles of new and diverse referrers as well as potential donors. funding bodies.** **17** ## **Below the surface:** ## **Numbers that matter** **In 2024, Paperweight resolved over 2000 individual cases delivering impact valued at over £1.65 million, free of charge to every client.** **David’s Story** ## **Shani’s Story** **As a single mum with three children under ten, we’d just been evicted and were now living in a bedsit with little to eat. English isn’t my first language and I was missing months of Universal Credit payments. No matter how many times I tried to get through to the DWP, no one seemed to listen. I felt invisible. But when Paperweight stepped in, everything changed. They cut through the red tape. The DWP finally listened and paid me everything I was owed. I felt heard and I finally had someone in my corner.** **When my wife died, I was left with four grieving children and a life I no longer recognised. My Parkinson’s made everything harder, even the smallest tasks became overwhelming. The grief, the confusion, the responsibility. It all felt impossible. Then Paperweight stepped in. They didn’t just help me with paperwork. They gave me layers of support and slowly, a sense of hope I didn’t think I’d feel again.** **Impact is best understood through stories, but numbers tell an important part of the picture too. Every number represents a life changed, a burden eased, and a step forward. Here we break down key statistics on the people we’ve helped, the services we’ve provided and the difference we’ve made. Thanks to our supporters, Paperweight continues to be a vital** ***Finance related issues Including debt cases resolved & Welfare Benefit Applications, lifelin for those i crisis. Transitions & Appeals Assisted** **The Paperweight Trust | Report of the trustees & financial statements** **18** ## **Successful outcomes and new cases** **----- Start of picture text -----**
Family
law cases 148
resolved
New cases 96
Debt
cases 146
resolved
New cases 154
Welfare benefit
applications, transitions 468
& appeals, assisted
New cases 562
Housing
108
cases supported
New cases 104
0 100 200 300 400 500 600
**----- End of picture text -----**
## **New cases from Regional Hubs this past year** **----- Start of picture text -----**
160 124 43
Manchester Leeds Gateshead
**----- End of picture text -----**
**45,000 Hours of Paperweight support provided** **6,400 Helpline calls answered** **2,000 Paperweight client cases supported** **19** ## **Strategic Report Financial review** ## **Financial Performance** **The Trustees observe that the apparent downturn in the financial affairs is purely a function of the bi-annual major fundraising campaign year. In a non-campaign year, such as to 31st July 2024, we have utilised some of our reserves. The 2025 campaign will restore the situation-ante. It is the Trustees’ firm opinion that Paperweight should not approach the community annually because they are “bombarded” with campaigns for other charitable causes.** **Nonetheless, the life-saving nature of our work, and the relief of multiple burdens that crisis-hit members would engender, means that in pure cost-per-client terms, in maintaining a figure below £300 per case, Paperweight have, once again, provided exceptional value this year.** ## **Financial Position** **The Statement of Financial Activities shows a net deficit for the year of £118,120 (surplus £163,992 in 2023) and our reserves stand at a surplus of £411,263 (£529,383 in 2023).** ## **Reserves Policy** **The charity’s reserves policy is to maintain sufficient cash reserves to enable the charity to continue its activities and services at a meaningful level, should there be a drop in income. As all income is derived from voluntary donations and grants, the Trustees review this position on a monthly basis. In view of this the Trustees aim to maintain a level of reserves sufficient to meet three months basic operating costs.** ## **Plans for the future** **The need for our services continues to grow and we plan to keep consolidating our unrivalled position in the communities which we serve and the partnerships we establish. Our high referral rate from established social care organisations reflects the niche that we have occupied, focusing on hand-holding through many crises from end-to-end with professionalism, determination and discretion.** **Simultaneously this level of service requires new relationships with even more varied professionals to be sought, and the quality of recruitment and training of our volunteers and employees to be improved wherever possible.** **And the ongoing establishment of active regional hubs will, as already proven, increase both the utilisation of the organisation’s facilities by the public but will also tap into a new resource of volunteers and professionals living in those communities.** ## **Declaration of Public Benefit** **The Trustees have considered the Charity Commission’s general guidance on public benefit in deciding what activities the charity should undertake.** **The ‘Objectives and Activities’ section explains the charity’s activities which are open primarily to anyone of the Jewish faith.** **The Trustees consider that the activities explained above, adequately satisfy the public benefit requirements.** **20 The Paperweight Trust | Report of the trustees & financial statements** ## **Structure, Governance And Management** ## **Governing document** **The charity is controlled by its governing document, Memorandum and Articles of Association and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.** ## **Trustee and Organisational Structure** **The charity is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association. All directors of the company are also Trustees of the charity and there are no other Trustees. The Trustees named above served throughout the period with the exception of B Perrin who retired as a Trustee mid-year and was replaced by T Greenbaum.** ## **Risk management** **The Trustees have assessed the major risks to which the charity is exposed. All areas of work carried out by the charity are appropriately risk assessed and staff and volunteers are appropriately screened, trained and supervised. The charity contracts with outside specialist advisers whenever necessary, to provide expert advice when it is required. The Trustees take a prudent and careful approach to the management of the funds of the charity to ensure that an adequate strategy is in place to safeguard the income streams and to control the costs in both the short and long term.** **As the charity relies entirely on voluntary income, and grant, Trustees are aware that there are various risks to our financial stability in an uncertain economic climate.** **The charity has been diversifying its fundraising efforts to mitigate those risks as far as possible by spreading the income streams more evenly. Risk management plans are in place to enable timely responses to any crisis designed to protect the core of the charity’s work through difficult times. Systems are in place to ensure the appropriate management of all funds and suitable probity is exercised at all times in regard to the handling and recording of financial transactions.** ## **Reference And Administrative Details** ## **Registered Company number** **07705745 (England and Wales)** **Registered Charity number 1146302** ## **Registered office** **119-121 Brent Street London NW4 2DX** ## **Trustees** **B Conway AJ Perrin B Perrin (resigned 5.6.2024) J C Marriott DE Posen DB Black T Greenbaum (appointed 5.6.2024)** **Independent Examiner** **Joey Joseph Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE** ## **Review Of The Charity** **The charitable company was incorporated on 14 July 2011.** ## **Plans For The Future** **The need for our services is increasing and we plan to continue doing what we can to assist. However, the Trustees realise that we must use the resources we have wisely and so we will continue to target those problems where we have expertise to make the most difference. This includes strengthening existing services, employing more key staff, accessing more professional assistance and expanding into other UK communities.** **21** ## **Dear Paperweight Supporter** While this Impact Report offers a glimpse into our work, it’s no match for experiencing Paperweight in action. Every day, I’m inspired by our incredible team - volunteers and staff alike, whose compassion, energy, and relentless drive to find practical, personalised solutions never fails to amaze me. They take my breath away and I thank them all. If you’d like to see our work up close, I warmly invite you to visit our London Head Office. We’d be truly delighted to welcome you, put the kettle on, and let our actions speak for themselves. Thank you for your continued interest and support which is so very much appreciated indeed. We are a strong force and I know that together, we will make a difference! ## _**Bayla Perrin**_ **CEO** **The Paperweight Trust | Report of the trustees & financial statements** **22** ## **Accounts** **The Paperweight Trust | Report of the trustees & financial statements** **23** The Paperweight Trust ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE PAPERWEIGHT TRUST** ## **Independent examiner’s report to the Trustees of The Paperweight Trust (‘the Company’)** I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31st July 2024. ## **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** Since your charity’s gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 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. ## **Joey Joseph** Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE 24th April 2024 **The Paperweight Trust | Report of the trustees & financial statements** **24** The Paperweight Trust ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2024** |Unrestricted
fund
Restricted
fund
Notes
£
£
**INCOME AND**
**ENDOWMENTS FROM**
Donations and legacies
2
115,309
145,399
Investment income
3
1,018
-
**Total**
116,327
145,399
**EXPENDITURE ON**
**Charitable activities**
4
Governance cost
4,200
-
Charitable
245,944
129,702
**Total**
250,144
129,702
**NET INCOME/**
**(EXPENDITURE)**
(133,817)
15,697
**RECONCILIATION OF**
**FUNDS**
Total funds brought
forward
502,973
26,410
**TOTAL FUNDS CARRIED**
**FORWARD**
369,156
42,107||2024
Total
funds
£
260,708
1,018
261,726
4,200
375,646
379,846
(118,120)
529,383
411,263||2023
Total
funds
£
503,213
259| |---|---|---|---|---| |||||503,472| |||||4,200
335,280| |||||339,480| |||||163,992
365,391| |||||529,383| **The notes form part of these financial statements** **25** The Paperweight Trust ## **STATEMENT OF FINANCIAL POSITION 31ST JULY 2024** |Unrestricted
fund
Restricted
fund
Notes
£
£
**FIXED ASSETS**
Tangible assets
11
29,761
-
**CURRENT ASSETS**
Debtors
12
600
-
Cash at bank
344,314
42,107
344,914
42,107
**CREDITORS**
Amounts falling due within
one year
13
(5,519)
-
**NET CURRENT ASSETS**
339,395
42,107
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
369,156
42,107
**NET ASSETS**
369,156
42,107
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2024
Total
funds
£
29,761
600
386,421
387,021
(5,519)
381,502
411,263
411,263
369,156
42,107
411,263|2023
Total
funds
£
32,478
800
502,401| |---|---|---| |||503,201
(6,296)| |||496,905| |||529,383| |||529,383| |||| |||502,973
26,410| |||529.383| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 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. The financial statements were approved by the Board of Trustees and authorised for issue on 24th April 2024 and were signed on its behalf by: A J Perrin - Trustee **The notes form part of these financial statements** **26** The Paperweight Trust **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST JULY 2024** |Notes
**Cash fows from operating activities**
Cash generated from operations
1
Tax paid
Net cash (used in)/provided by operating activities
**Cash fows from investing activities**
Purchase of tangible fxed assets
Interest received
Net cash used in investing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at**
**the end of the reporting period**||2024
£
(111,881)
200
(111,681)
(5,317)
1,018
(4,299)
(115,980)
502,401
386,421||2023
£
174,837
(50)| |---|---|---|---|---| |||||174,787| |||||(7,864)
259
(7,605)
167,182
335,219
502,401| |||||| **The notes form part of these financial statements** **27** The Paperweight Trust ## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST JULY 2024** ## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES** ## **2.** |2024
£
**Net (expenditure)/income for the reporting period**
**(as per the Statement of Financial Activities)**
(118,120)
**Adjustments for:**
Depreciation charges
8,034
Interest received
(1,018)
Decrease in debtors
-
(Decrease)/Increase in creditors
(777)
**Net cash (used in)/provided by operations**
(111,881)
At 1/8/23
Cash fow
At
£
£
**Net cash**
Cash at bank
502,401
(115,980)
502,401
(115,980)
**Total**
502,401
(115,980)
**ANALYSIS OF CHANGES IN NET FUNDS**|2023
£
163,992
8,556
(259)
100
2,448
174,837
31/7/24
£
386,421| |---|---| ||386,421| ||386,421| ## **ANALYSIS OF CHANGES IN NET FUNDS** **The notes form part of these financial statements** **28** The Paperweight Trust **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024** ## **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. ## **Going concern** The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. ## **Income** Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Income from gift aid and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met. ## **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. ## **Tangible fixed assets** Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below. Depreciation is provided on the following basis: Improvements to property - 20% on reducing balance Computer and equipment - 50% on cost The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. **29** The Paperweight Trust **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **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. Designated funds comprise unrestricted funds that have been set aside by the Trustee for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each material restricted fund is set out in the notes to the financial statements. ## **Key judgements and estimates** 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. Designated funds comprise unrestricted funds that have been set aside by the Trustee for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each material restricted fund is set out in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Financial instruments** The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## **Debtors** Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. ## **Cash and cash equivalents** ## **Financial instruments** Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature no more than three months from the date of acquisition and that are readily convertible to cash with insignificant risk of change in value. **30** The Paperweight Trust ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Creditors** Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. ## **2. DONATIONS AND LEGACIES** |**Grants received, included in the above, are as follows:**
Other grants
**3.**
**INVESTMENT INCOME**
Deposit account interest
**4.**
**CHARITABLE ACTIVITIES COSTS**
Governance cost
Charitable
Donations
Grants|2024
£
145,400
2024
£
1,018
Direct
Costs
Support costs
(see note 6)
£
£
-
4,200
375,646
-
375,646
4,200
2024
£
115,308
145,400
260,708|2023
£
61,200
2023
£
259
Totals
£
4,200
375,646
2023
£
442,013
61,200
503,213| |---|---|---| |||379,846| **31** The Paperweight Trust ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024** ## **5. GRANTS PAYABLE** |**6.**
**SUPPORT COSTS**
Governance cost
**7.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Charitable|Governance costs
£
4,200
2024
2023
£
£
8,034
8,556
2024
2023
£
£
-
1,915|Governance costs
£
4,200
2024
2023
£
£
8,034
8,556
2024
2023
£
£
-
1,915|Governance costs
£
4,200
2024
2023
£
£
8,034
8,556
2024
2023
£
£
-
1,915| |---|---|---|---| ||||4,200| ||||| ||||2023
£
8,556| ## **7. TrusteeS’ REMUNERATION AND BENEFITS** There were no Trustees’ remuneration or other benefits for the year ended 31st July 2024 nor for the year ended 31st July 2023. ## **Trustees’ expenses** There were no Trustees’ expenses paid for the year ended 31st July 2024 nor for the year ended 31st July 2023. ## **9. STAFF COSTS** |2024
£
Wages and salaries
157,877
Other pension costs
1,395
159,272
The average monthly number of employees during the year was as follows:
No employees received emoluments in excess of £60,000.
2024
Administrative
3||2023
£
117,573
1,934| |---|---|---| |||119,507| |||| |||2023
4| |||| |||| **32** The Paperweight Trust ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024** ## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
442,013
Investment income
259
**Total**
442,272
**EXPENDITURE ON**
**Charitable activities**
Governance cost
4,200
Charitable
274,386
**Total**
278,586
**NET INCOME**
163,686
**RECONCILIATION OF FUNDS**
Total funds brought forward
339,287
**TOTAL FUNDS CARRIED FORWARD**
502,973|Restricted
fund
£
61,200
-
61,200
-
60,894
60,894
306
26,104
26,410||Total
funds
£
503,213
259| |---|---|---|---| ||||503,472| ||||4,200
335,280| ||||339,480| ||||163,992
365,391| ||||529,383| **33** The Paperweight Trust ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024** ## **11. TANGIBLE FIXED ASSETS** |Property
improvements
Computer
and
Equipment
£
£
**COST**
At 1st August 2023
48,162
12,769
Additions
5,317
-
At 31st July 2024
53.479
12,769
**DEPRECIATION**
At 1st August 2023
16,266
12,187
Charge for year
7,443
591
At 31st July 2024
23,709
12,778
**NET BOOK VALUE**
At 31st July 2024
29,770
(9)
At 31st July 2023
31,896
582
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2024
£
Social security and other taxes
1,319
Accrued expenses
4,200
5,519
**12.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2024
£
Gift Aid receivable
600|Totals
£
60,931
5.317
66,248
28,453
8,034
36,487
29,761
32,478
2023
£
1,496
4,800
6,296
2023
£
800||Totals
£
60,931
5.317| |---|---|---|---| ||||66,248| ||||28,453
8,034| ||||36,487| ||||| ||||29,761| ||||| ||||32,478| ||||| **34** The Paperweight Trust **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024** ## **14. MOVEMENT IN FUNDS** ||At 1/8/23|Net|At| |---|---|---|---| |||movement|31/7/24| |||in funds|| ||£|£|£| |**Unrestricted funds**|||| |General fund|502,973|(133,817)|369,156| |**Restricted funds**|||| |Restricted fund|26,410|15,697|42,107| |**TOTAL FUNDS**|529,383|(118,120)|411,263| ||||| |Net movement in funds, included in the above are as follows:|||| ||Incoming|Resources|Movement| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|116,327|(250,144)|(133,817)| |**Restricted funds**|||| |Restricted fund|145,399|(129,702)|15,697| |**TOTAL FUNDS**|261,726|(379,846)|(118,120)| **35** The Paperweight Trust ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024** |**14.**|**MOVEMENT IN FUNDS - continued**|||| |---|---|---|---|---| ||**Comparatives for movement in funds**|At 1/8/22|Net|At| |||movement||31/7/23| ||||in funds|| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|339,287|163,686|502,973| ||**Restricted funds**|||| ||Restricted fund|26,104|306|26,410| ||**TOTAL FUNDS**|365,391|163,992|529,383| |||||| ||Comparative net movement in funds, included in the above are as follows:|||| |||Incoming|Resources|Movement| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|442,272|(278,586)|163,686| ||**Restricted funds**|||| ||Restricted fund|61,200|(60,894)|306| ||**TOTAL FUNDS**|503,472|(339,480)|163,992| |||||| ||A current year 12 months and prior year 12 months combined position is as follows:|||| |||At 1/8/22|Net|At| ||||movement|31/7/24| ||||in funds|| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|339,287|29,869|369,156| ||**Restricted funds**|||| ||Restricted fund|26,104|16,003|42,107| ||**TOTAL FUNDS**|365,391|45,872|411,263| **36** The Paperweight Trust ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024** ## **14. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: : ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|558,599|(528,730)|29,869| |**Restricted funds**|||| |Restricted fund|206,599|(190,596)|16,003| |**TOTAL FUNDS**|765,198|(719,326)|45,872| ## **15. RELATED PARTY DISCLOSURES** During the year, £9,750 (2023: £4,550) for Non Trustee services, was paid to Perrin Associates Limited, a company where Trustee, A J Perrin is a director and 50% shareholder. The consultancy fee includes this amount. **This page does not form part of the statutory financial statements** **37** The Paperweight Trust ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2024** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grants
**Investment income**
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Pensions
Subscriptions and memberships
Insurance
Consultancy fees
Printing, postage, stationery and folders
Advertising and promotion
Sundries
Computer consumables and repairs
Bank charges
Website, rebranding and copywriting
Light and heat
Rent
Offce consumables
Fund raising costs
Volunteer events
Cleaning
Travel
Training
FCA Registration
Pension and HR advisors and bookkeeping
Telecoms - virtual offce
Depreciation of improvements to property
Depreciation of Computer and equipment
Grants to individuals|2024
£
115,308
145,400
260,708
1,018
261,726
157,877
1,395
1,572
3,060
48,008
-
24,705
819
58
268
38,732
14,744
32,649
1,105
5,700
1,300
4,231
513
6,426
5,985
5,273
13,192
7,443
591
-
375,646|2023
£
442,013
61,200| |---|---|---| |||503,213
259| |||503,472
117,573
1,934
4,127
1,529
29,524
119
26,229
565
582
218
32,360
7,298
39,236
730
10,385
9,762
4,651
2,105
15,758
5,055
3,144
11,325
7,974
582
1,915| |||334,680| **This page does not form part of the statutory financial statements** **38** The Paperweight Trust **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2024** |**Support costs**
**Governance costs**
Accountancy and examination costs
Total resources expended
**Net (expenditure)/income**|2024
£
4,200
379,846
(118,120)|2023
£
4,800| |---|---|---| |||339,480| |||| |||163,992| **This page does not form part of the statutory financial statements** **39** The Paperweight Trust To access our free services or to make a donation to support our work, please call **0330 174 4300** ; email **info@paperweight.org.uk** or visit **paperweight.org.uk** paperweighttrustlondon wearepaperweight The Paperweight Trust PWtrust85 The Paperweight Trust Registered Charity 1146302 Registered Company 07706745 The Paperweight Trust is authorised and regulated by the Financial Conduct Authority – FRN 973164 May 2025