**Charity registration number 1161384**
**SCHOTTLANDER RESEARCH CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **SCHOTTLANDER RESEARCH CHARITABLE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Dr B D Schottlander||
|---|---|---|
||Mr I J Schottlander||
||Mrs S A Schottlander||
||Mr M Scott|(Appointed 21 November|
|||2021)|
|**Charity number**|1161384||
|**Auditor**|Newton & Garner Limited||
||Chartered Accountants||
||47 Topsfield Parade, Tottenham Lane||
||Hornsey, London||
||N8 8PT||
## **SCHOTTLANDER RESEARCH CHARITABLE TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent auditor's report|3 - 4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 8|
## **SCHOTTLANDER RESEARCH CHARITABLE TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
The trustees present their annual report and financial statements for the year ended 31 December 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 governing document, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
## **Objectives and activities**
The charity's objects are:-
1) The advancement of health for the public benefit by supporting innovative research that will lead to a better understanding of
A) The causes of illness
B) The treatment of illness: and
C) The prevention of illness and publishing the results of such research.
2) The conservation and protection of the natural environment for the public benefit by supporting innovative research into the development of sustainable energy resources and publishing the results of such research.
The above objectives will usually be achieved by making grants to research organisations who would carry out the work but may also be achieved by employing experts in the relevant fields to carry out the work.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
The charity did not make any grants during the year.
## **Financial review**
Reserves are £505,429 (2020 : 405,680) at the end of the year.
It is the policy of the charity that reserves should not be in deficit at any time.
The trustees have 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.
## **Structure, governance and management**
The charity was established by a charitable trust deed on 23rd March 2015 and was registered as a charity on the 22nd April 2015.
The trustees who served during the year and up to the date of signature of the financial statements were: Dr B D Schottlander
Mr I J Schottlander Mrs S A Schottlander Mr M Scott (Appointed 21 November 2021)
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## **SCHOTTLANDER RESEARCH CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **Statement of trustees' responsibilities**
The trustees are responsible for preparing the Trustees' 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 year.
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; and
- 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 sufficient 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.
The trustees' report was approved by the Board of Trustees.
Dr B D Schottlander
## **Trustee**
18 October 2022
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## **SCHOTTLANDER RESEARCH CHARITABLE TRUST**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE TRUSTEES OF SCHOTTLANDER RESEARCH CHARITABLE TRUST**
## **Opinion**
We have audited the financial statements of SCHOTTLANDER RESEARCH CHARITABLE TRUST (the ‘charity’) for the year ended 31 December 2021 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 December 2021 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
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## **SCHOTTLANDER RESEARCH CHARITABLE TRUST**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SCHOTTLANDER RESEARCH CHARITABLE TRUST**
## **Responsibilities of trustees**
As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Other matters**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "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)" (as amended) 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.
This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
**Newton & Garner Limited** 19 October 2022 **Chartered Accountants Statutory Auditor** Chartered Accountants 47 Topsfield Parade, Tottenham Lane Hornsey, London N8 8PT
Newton & Garner Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
- 4 -
## **SCHOTTLANDER RESEARCH CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**Notes**|**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|**Income from:**|||
|Donations and legacies
**2**|100,000|100,000|
|Investments
**3**|37|410|
||||
||||
|**Total income**|100,037|100,410|
|**Expenditure on:**
Governance costs
**Total resources expended**
**Net income for the year/**|||
||||
||288|288|
||||
||||
||288|288|
||||
||||
|**Net movement in funds**|99,749|100,122|
|Fund balances at 1 January 2021
**Fund balances at 31 December 2021**|||
||405,680|305,558|
||||
||||
||505,429|405,680|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 5 -
## **SCHOTTLANDER RESEARCH CHARITABLE TRUST**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2021**_
|**Notes**
**Current assets**|**2021**||**2020**||
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
||506,293
(864)|505,429
505,429
505,429|406,256
(576)||
|Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**6**|||||
|Net current assets||||405,680|
||||||
||||||
|**Income funds**|||||
|Unrestricted funds||||405,680|
||||||
||||||
|||||405,680|
The financial statements were approved by the Trustees on 18 October 2022
## Dr B D Schottlander
**Trustee**
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## **SCHOTTLANDER RESEARCH CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **1 Accounting policies**
## **Charity information**
SCHOTTLANDER RESEARCH CHARITABLE TRUST is a INSERT CONSTITUTIONAL DETAIL.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Incoming resources**
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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## **SCHOTTLANDER RESEARCH CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **2 Donations and legacies**
|**Unrestricted**
Unrestricted
**funds**
funds
**2021**
2020
**£**
£
Donations and gifts
100,000
100,000|**Unrestricted**
Unrestricted
**funds**
funds
**2021**
2020
**£**
£
Donations and gifts
100,000
100,000|**Unrestricted**
Unrestricted
**funds**
funds
**2021**
2020
**£**
£
Donations and gifts
100,000
100,000|
|---|---|---|
||**funds**|funds|
||||
||**2021**|2020|
||**£**|£|
||||
||100,000|100,000|
||||
||||
|**3**
**Investments**|||
|**Unrestricted**
Unrestricted
**funds**
funds
**2021**
2020
**£**
£
Interest receivable
37
410|||
## **4 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **5 Employees**
The average monthly number of employees during the year was:
|Total
There were no employees whose annual remuneration was more than £60,000.
**6**
**Creditors: amounts falling due within one year**|**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
||||
||-|-|
||||
||||
||||
||||
|Trade creditors|**2021**|**2020**|
||**£**|**£**|
||||
||864|576|
||||
||||
|**7**
**Related party transactions**|||
There were no disclosable related party transactions during the year (2020 - none).
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