CHARITY REGISTRATION NUMBER: 1167559
ANGLO ISRAEL CARDIOVASCULAR SYMPOSIUM UNAUDITED FINANCIAL STATEMENTS
31 MARCH 2021
ANGLO ISRAEL CARDIOVASCULAR SYMPOSIUM
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
| PAGE | |
|---|---|
| Trustees' annual report | 1 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
ANGLO ISRAEL CARDIOVASCULAR SYMPOSIUM
TRUSTEES' ANNUAL REPORT
YEAR ENDED 31 MARCH 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name
Anglo Israel Cardiovascular Symposium
Charity registration number 1167559 Principal office 34 Circus Road St. Johns Wood London NW8 9SG The trustees Dr R Vecht Dr D Dymond Dr D Landau Accountants Cohen Arnold Chartered accountants New Burlington House 1075 Finchley Road LONDON NW11 0PU
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ANGLO ISRAEL CARDIOVASCULAR SYMPOSIUM
TRUSTEES' ANNUAL REPORT (continued)
YEAR ENDED 31 MARCH 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The official name of the charity is Anglo Israel Cardiovascular Symposium and its constitution is of a Foundation Charitable Incorporated Organisation.
It is registered with the Charity Commission and its charity number is 1167559.
Management of the charity
The trustees administer the day-to-day affairs of the charity.
Appointment, training and recruitment of trustees
The trustees have no beneficial interest in the charity and are chosen by agreement of trustees at an annual meeting. The choice is based on applicants' business and community knowledge.
It is not currently the intention of the Trustees of the charity to appoint new Trustees. Should the situation change in the future, the Trustees will apply suitable recruitment and new trustees are subject to trustee induction training which includes an understanding of the content of the governing document, their legal obligations under Charity Act, 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.
Related parties and co-operations with other organisations
None of our trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee of the charity with a supplier company must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were reported.
OBJECTIVES AND ACTIVITIES
The charity is established to promote the education of and clinical excellence amongst cardiovascular physicians and surgeons in UK and in Israel.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year.
ACHIEVEMENTS AND PERFORMANCE
In December 2019 the charity held a symposium in the Dead Sea region which was attended by cardiologists from the UK and Israel.
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ANGLO ISRAEL CARDIOVASCULAR SYMPOSIUM
TRUSTEES' ANNUAL REPORT (continued)
YEAR ENDED 31 MARCH 2021
FINANCIAL REVIEW
Risk management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
Reserves policy
At the year-end £14,697 (2020: £15,237) was held as unrestricted funds. It is the policy of the charity to maintain unrestricted funds, which are the free reserve of the charity, at a level, which the trustees think appropriate, in-order to maintain and finance the charity's administrative costs of the charity for the next year.
The trustees' annual report was approved on 17 December 2021 and signed on behalf of the board of trustees by:
Dr D Dymond Trustee
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ANGLO ISRAEL CARDIOVASCULAR SYMPOSIUM
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | – | – | 22,500 |
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| Total income | – | – | 22,500 | |
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| Expenditure | ||||
| Expenditure on charitable activities | 5,6 | (540) | (540) | (17,204) |
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| Total expenditure | (540) | (540) | (17,204) | |
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| Net (expenditure)/income and net movement in funds | (540) | (540) | 5,296 | |
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| Reconciliation of funds | ||||
| Total funds brought forward | 15,237 | 15,237 | 9,941 | |
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| Total funds carried forward | 14,697 | 14,697 | 15,237 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 9 form part of these financial statements.
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ANGLO ISRAEL CARDIOVASCULAR SYMPOSIUM
STATEMENT OF FINANCIAL POSITION
31 MARCH 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Cash at bank and in hand | 16,197 | 16,197 | |||
| CREDITORS: amounts falling due | |||||
| within one year | 10 | (1,500) | (960) | ||
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| NET CURRENT ASSETS | 14,697 | 15,237 | |||
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| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 14,697 | 15,237 | |||
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| NET ASSETS | 14,697 | 15,237 | |||
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| FUNDS OF THE CHARITY | |||||
| Unrestricted funds | 14,697 | 15,237 | |||
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| Total charity funds | 11 | 14,697 | 15,237 | ||
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These financial statements were approved by the board of trustees and authorised for issue on 17 December 2021, and are signed on behalf of the board by:
Dr D Dymond Trustee
The notes on pages 6 to 9 form part of these financial statements.
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ANGLO ISRAEL CARDIOVASCULAR SYMPOSIUM
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
1. GENERAL INFORMATION
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 34 Circus Road, St Johns Wood, London, NW8 9SG.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These financial statements have been prepared in accordance with accounting principles appropriate to a going concern, as the trustees have a reasonable expectation that the charity has adequate resources to continue in existence for the foreseeable future by meeting its obligations as they fall due, based on the current net asset position of the charity and available sources of finance.
Judgements and key sources of estimation uncertainty
There are no judgements, estimates or assumptions that affect the amounts reported.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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ANGLO ISRAEL CARDIOVASCULAR SYMPOSIUM
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2021
3. ACCOUNTING POLICIES (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. DONATIONS AND LEGACIES
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| DONATIONS | ||||
| Donations received | – | – | 22,500 | 22,500 |
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| EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Symposium costs | 120 | 120 | 16,244 | 16,244 |
| Support costs | 420 | 420 | 960 | 960 |
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| 540 | 540 | 17,204 | 17,204 | |
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5. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
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ANGLO ISRAEL CARDIOVASCULAR SYMPOSIUM
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2021
6. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Total funds | Total fund | |||
| directly | Support costs | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Symposium costs | 120 | – |
120 | 16,244 | |
| Governance costs | – | 420 |
420 | 960 | |
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| 120 | 420 |
540 | 17,204 | ||
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| 7. | ANALYSIS OF SUPPORT COSTS | ||||
| Symposium | |||||
| costs | Total 2021 | Total 2020 | |||
| £ | £ | £ | |||
| Governance costs | 420 | 420 | 960 | ||
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8. STAFF COSTS
No salaries or wages have been paid to employees, including the members of the committee, during the year.
9. TRUSTEE REMUNERATION AND EXPENSES
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
10. CREDITORS: amounts falling due within one year
Accruals and deferred income
| 2021 | 2020 |
|---|---|
| £ | £ |
| 1,500 | 960 |
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11. ANALYSIS OF CHARITABLE FUNDS
Unrestricted funds
| At | At 31 March | At 31 March | |||
|---|---|---|---|---|---|
| 1 | April 2020 | Income | Expenditure | 2021 | |
| £ | £ | £ | £ | ||
| General funds | 15,237 | – | (540) | 14,697 | |
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| At | At | 31 March | |||
| 1 | April 2019 | Income | Expenditure | 2020 | |
| £ | £ | £ | £ | ||
| General funds | 9,941 | 22,500 | (17,204) | 15,237 | |
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ANGLO ISRAEL CARDIOVASCULAR SYMPOSIUM
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2021
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Current assets | 16,197 | 16,197 |
| Creditors less than 1 year | (1,500) | (1,500) |
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| Net assets | 14,697 | 14,697 |
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| Unrestricted | Total Funds | |
| Funds | 2020 | |
| £ | £ | |
| Current assets | 16,197 | 16,197 |
| Creditors less than 1 year | (960) | (960) |
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| Net assets | 15,237 | 15,237 |
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