Charity Number 1152607
SARAH MOSERET FOOD TRUST FINANCIAL STATEMENTS
31 JULY 2021
SARAH MOSERET FOOD TRUST
FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2021
| CONTENTS | PAGE |
|---|---|
| Trustees and professional advisers | 1 |
| Trustees Annual Report | 2-3 |
| Statement of Trustees responsibilities | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7-8 |
SARAH MOSERET FOOD TRUST
TRUSTEES AND PROFESSIONAL ADVISERS
| Registered charity name | SARAH MOSERET FOOD TRUST |
|---|---|
| Charity number | 1152607 |
| Principal office | 79 The Drive |
| London | |
| NW11 9UJ | |
| Trustees | B Ebert |
| E Ebert | |
| Y Cohen | |
| Accountants | JS&Co Accountants Ltd |
| 26 Theydon Road | |
| London | |
| E5 9NA | |
| Bankers |
Virgin Money |
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SARAH MOSERET FOOD TRUST
TRUSTEES ANNUAL REPORT (continued)
YEAR ENDED 31 JULY 2021
The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the period ended 31 July 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and administrative details are shown in the schedule of trustees and professional advisers on page 1 of the financial statements.
THE TRUSTEES
The trustees who served the company during the period were as follows:
B Ebert
E Ebert Y Cohen
There is no chief executive officer nor any other staff employed in the charity. The day to day affairs are undertaken by B Ebert on behalf of the trustees.
All major decisions are taken collectively by the trustees.
The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Sarah Moseret Food Trust is constituted under a deed dated 20 May 2013 as amended 11 July 2013. It is a registered charity number 1152607 and was registered on 26 June 2013.
Recruitment and appointment of new trustees would be in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
RISK REVIEW
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.
OBJECTIVES AND ACTIVITIES
The charities objective is to relief the hardship of individuals by giving them donations towards their daily expenses. Sometimes we buy them food if they find it hard to go shopping themselves due to ill health and physical difficulties.
RISK MANAGEMENT
The trustees have put in place systems to identify risks and review the systems regularly.
ACHIVEMENTS AND PERFORMANCE
Financial review
We are pleased that we have managed to distribute all the funds received to the needy without incurring any overheads.
RESERVES
The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure.
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SARAH MOSERET FOOD TRUST
TRUSTEES ANNUAL REPORT (continued)
YEAR ENDED 31 JULY 2021
PLANS FOR THE FUTURE
We are keen to expand our existing services, to enable to support more of the disadvantaged people.
Signed on behalf of the trustees
Trustee
79 The Drive London NW11 9UJ
13 May 2022
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The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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SARAH MOSERET FOOD TRUST
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 July 2021
| Notes INCOMING RESOURCES Incoming resources from generated funds Voluntary Income 3 Investment Income 4 Total Incoming resources RESOURCES EXPENDED Costs of generating funds: Charitable activities 5 Governance costs 6 Total resources expended NET INCOMING/(OUTGOING) RESOURCES RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 26,590 11 26,601 31,000 240 31,240 -4,639 8,694 4,055 |
2020 35,985 12 |
|---|---|---|
| 35,997 27,866 240 |
||
| 28,106 7,891 803 |
||
| 8,694 |
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SARAH MOSERET FOOD TRUST
| 2021 Notes £ £ CURRENT ASSETS: Debtors Cash at bank and in hand 4,295 4,295 CREDITORS: amounts falling due within one year 7 -240 Net Current assets/(liabilities) 4,055 NET CURRENT ASSETS: 4,055 FUNDS 8 Unrestricted funds 4,055 TOTAL FUNDS 4,055 Approved by the board of Trustees on: And signed on their behalf by: 13 May 2022 BALANCE SHEET 31-Jul-21 |
2020 £ £ 8,934 8,934 -240 8,694 8,694 8,694 8,694 |
2020 £ £ 8,934 8,934 -240 8,694 8,694 8,694 8,694 |
|---|---|---|
| 8,694 | ||
| 8,694 | ||
| 8,694 | ||
Trustee
The Notes form part of these financial statements
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SARAH MOSERET FOOD TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2021
1 ACCOUNTING POLICIES
Accounting convention
These accounts have been prepared in accordance with the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015). In preparing the accounts, the charity follows best practice as laid down in the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP) issued in March 2005. Where there is a conflict between the FRSSE and the SORP, the SORP has been adopted in accordance with paragraph 419ff of the SORP.
Incoming resources
Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on accurals 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 consitent with the use of resources
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
2 TRUSTEES REMUNERATION AND BENEFITS
No trustee received remuneration, allowance for or reimbursement of expenses.
3 VOLUNTARY INCOME
| Total | Total | |
|---|---|---|
| Unrestricted | Funds | Funds |
| Funds | 2021 | 2020 |
£ |
£ |
£ |
| 26,590 | 26,590 | 35,985 |
4 INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| Total | Total | ||
| Unrestricted | Funds | Funds | |
| Funds | 2021 | 2020 | |
£ |
£ |
£ |
|
| Bank receivable | 11 | 11 | 12 |
5 COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Total | Total | ||
|---|---|---|---|
| Unrestricted | Funds | Funds | |
| Funds | 2021 | 2020 | |
£ |
£ |
£ |
|
| Distribution of funds to the needy | 31,000 | 31,000 | 27,866 |
| 31,000 | 31,000 | 27,866 |
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SARAH MOSERET FOOD TRUST
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2021
6 GOVERNANCE COSTS
| GOVERNANCE COSTS | ||
|---|---|---|
| Accountancy | Unrestricted Funds Total Funds 2021 £ £ 240 240 240 240 |
Total Funds 2020 £ 240 |
| 240 |
- 7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| DUE WITHIN ONE YEAR | ||
|---|---|---|
| Accurals | 2021 £ 240 240 |
2020 £ 480 |
| 480 |
8 MOVEMENTS IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS |
At 1.08.20 Net movement in funds £ £ 8,694 -4,639 8,694 -4,639 |
At 31.07.2021 £ 4,055 |
|---|---|---|
| 4,055 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming Rescources resources expended £ £ 26,601 31,240 26,601 31,240 |
Movement in funds £ -4,639 |
|---|---|---|
| -4,639 |
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