Reglstered number. 10237098 Charlty numb8r: 1169323 THE DEBRA REISS FOUNDATION {A Company Limited by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
THE DEBRA REISS FOUNDATION IA Company Limited by Guarantee) CONTENTS Pag8 Rofgrence and Admlnlstratlve Dètails of the Cornpany> rts Trust99s and Adylsers Trustees, Report Independent Audltors. Report on the Flnanclal Statements 7-10 Stat8ment of Financial Actlvltle8 11 Balance Sheet 12 Notes to the Financlal Stataments 13-20
THE DEBRA REISS FOUNDATION IA Company Llmlted by Guaranleel REFERENCE AND ADMINISTRATIVE DLs OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2021 Trusteeg D. A. R&ss R. J. Rei8S D. R. Reiss Company reglstsred numbor 10237598 Charlty reglstsred number 1169323 Registor8d offlce First Floor, White Lion House. 64a Highgate HKJh Str& London, N6 5HX Independont audltors Wilder c Ltd, 1st Floor Sackville House. 14&149 Fenchurch Strl LoThJon. EC3M 6BL Pag8 1
THE DEBRA REISS FOUNDATION {A Company Limited by Guarantsg) TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2021 Thé Trustees present th*r annual report together with the audited ftnancial statements of the Company for t year 1 July 2020 to 30 June 2021. The Annual Report serv8S the purposes of both a Truste8s' report and a directors. report under company law. The Trustees confim that the Annual Report and financial slalements of thè Ghaiilable company comply wrfch the current slatirtory requirements. the requirements of the charitable company's goveming document and the promsions of the Slatemenl of Recommended Prlee ISORPI applicable to charitEs preparing their accounts in CordanCe wtih t1 Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 2019}. Since Company qualtfies as small under section 382 of the Companies Act 2006, the Strategic Rep¢)rt required of mediurn and large companies urmler the Companies Act 20r (strategic R@port and DirectOTS' Report} Regulakn'ons 2013 has been omitted. Objectlves and actlvllles a. POLICIES AND OWECTNES The prin¢ipal objedNes of the chanty as et out in thè goveming dUment are.. To assist in suth ways as the chanty thinks frt any charrty those aims include advancing education of persons in the UK or worfthw'de by deveEoping their indild31 capabilities, comp8tences. skills and understanding in subjects of educational value or in dèveloping their mental, physi1 and moral eapabililies thiouyh leisure time ath"vities. To relieve pov8rty or financial hardship in the UK or Worfthde ty providing grants, rtems and servic@s to individuals in need an(Vor tharitie5 or ¢)ther organisations wothing to rdieve poverty. To develop the ¢xpabilty and skills of s(Kialty disadvantaged communtties in the UK in such a way that Ih8y are better able lo identrfy and help meet their needs and to participate more fully in society by the support of and prowding grants and donations to charitios whose objectives include these aim8. To promote public healih in the UK and worldwwje for the benefrt of the public by provpjing assistance an grants lo other charities arKI organisations working in the fidd of medical research and advancernenl., and To promote humane behaviour towards animals by assisting or providing donations or grants lo charity or organisalion I1¢h is providing donations or grants lo any Charty or organisation which is providing appropriat& ¢ar8, prot8Ction, treatment and security or animals which are in need of care and 8tt@nlion by reason of sickness, maltreatment, poor circumstances or ill usage and to educate the public in matters pertaining to animal welfare and the prevention of crudty and suffering S[ng animals. b. PUBUC BENEFIT The Trustees confirm that they have, in the administratr)n of the chartty, paid due regard to the public benefit guKl8nce published by the Charity Commission under tion 4 of the Charities Act 2011. Page 2
THE DEBRA REISS FOUNDATION {A Company Umited by Guarantsg) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2021 Achlevements and performance a. REVIEW OF ACTIVITIES Historic (knnations and subsequent income receNed was invested auoss 4 investment funds during 2Q21. There are 3 investment funds in place at the year end. In addition. funds have en invested into brKlging loan facilibes of which there are 2 in place at the year ervj. Donations lo other chariti8s lotalkl £15,559 {2iY20.. £70,345). It is expeded that further donations will be mad8 in 2021 for the furtherance of the chartils objectives. b. INVESTMENT POUCY AND PERFORMANCE The Trustees have considered the cptions available and have d&ided lo invest the fijnds they have received by way of donations in commercial common inv8Stm8nt funds as wdl as other funding solutKsns to obtain long term retum on investments. Financial revi8w a. GOING CONCERN After making appropriate enquiri88, the Trusle8s have a reasonable 8xpectation that th8 company has adequate resources to continue in cyerakn'onal existence for Iho foreseeable fLrture. For this reason they continue to adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of th8 going concern basis can be found in the accounliThJ policEs. b. RESERVES POUCY The current reserve policy is to prOtt the c¢Jnpan¥s charitable property. including the investments held and lo seek to ensure the sVencY of the company. The Trustees continue to follow a resèrves policy which refiects the precise risks and olheT circumstances of the time. The totsl funds held al the year end aFe £7.484,589 (2ff20." £6.604,4251. All ftjnds are unrestricted. c. PRINCIPAL FUNDING The principal fijnding gf the company has the investment income reNed on funds arising from donations made in earlier periods. It is intended that these funds shoukl assist wlh the charitable purpose of the charity for a number of years. d. MATERIAL INVESTMENTS POLICY The material investments of the company are its investments in various share portfoli95. The policies relating thereto and their perfom)an¢e is dealt th in the aw)unting policies and notes to the lUntS. PaJe 3
THE DEBIIA REISS FOUNDATION {A Company Limited by Guarnnteel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021 structurep govemance and management . CONSTITUTION The cornpany is wislered as a charitabl8 company limited by guaranlee and was set up by a Memorandum of AssociatKJn on 17 June 2016. The compan5 charitabl8 number is 1169323 an(J its regislered company nurnber is 10237698. The company18 registered at the following addr6ss'. First Floor While Lion House $4a HigIale High Street London N6 5HX b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the company is the responsibility of the Trustses who are eknted and ca>opled under the temis of the Articles of Association. Trustees are appointed at the dÉscretion of the acting trustees at the Annual Genèral Meètlng. c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES There is no sel policy in pl for the irKJucti)n and training of new trustees and this is arrang8d as requirpAI. d. PAY POLICY FOR SENIOR STAFF All directors, who are also tNstees of the charity, give their time arKI no dIrtOr received remuneration in the year. e. ORGANISATFONAL STRUCTURE AND DECISION MAKING The board of Trustees wrfch a minimum of0 rnembers. administer the charity. The Tnjstees served during the year were as follows: D. A. Reiss R. J. Reiss D. A. R&ss The companls auditors are Wikler Coe Ltd, Chartered Accountsnts & Statutory AuditorB, 1st Floor SaGkville House, 14>149 Fenchurch Street. London, EC3M 6BL. f. RISK MANAGEMEKr The Trugtees have assessed the major risks lo which the company is exposed, in partlcular th08e retaled to the operations and finances of the company, and are satisfd th81 systems and procedure5 are in place lo miligale exposure to the major risks. Page 4
ThE DEBRA REISS FOUNDATION (A Company Limited by Guarantse) TRUSTEES. REpoKf {CONTINUEDI FOR THE YEAR ENDED 30 JUNE 2021 Plans for future perlods . FUTURE DEvELOPmErS The charty plans to continue sUPPOrting the ¢)bjectNes outlined above in the forthcoming years subject lo 8atisfactory funding arrangemls_ TRUSTEES, RESPONSIBILITIES STATEMENT Tha Trust88s (who ar8 also the diredors of th8 Company for the purposes of company18wI are r&sponsible for preparing the Trustees, Report and the financk81 slatements in accordance wilh applicable law and United Kingdom AUntIng St8ndards {United Kingdom GeneraltyAccepted Acwunting practi). Company law requires the Trustees lo ppare financAal slalemenls for each financial year. Under company law, the Trustees must not approve the financial statements unkss they are satisfied that they gwe a true and fair Vi8w of th8 slate of affairs of th8 Company and of ts incoming resou8 and application of resourc8s, including ils income and expenditure, for that picKl. In preparing these financial statements. the Tnjslees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and princip$ ofthe Charilw SORP {FRS 102)., make judgments and accounting estimates Ihat are reasonab and prudent. slate whether 8ppIic8ble UK Accounting Standards (FRS 102) have been followed. subjeca to any material departures disclosed and explained in the financial statements- prepare the financial ststements on the going concem basis unless il is inappropriate to presume that the Company will continue in business. The Trustees are responsible lor keeping ajequate nUnting records that are sijfficienl to show and explain the COrnpan8 l¥ansactions and disdose with asOn0bk accuracy al any time the financial position of the Company and enable them lo ensure that the financial statements comply wlh the Companies Act 2006. They are also responsible for safeguarding the assets of the CLYnpany and hence for takiryd reasonable slep8 for the prevention ar detsction of fraud and othei ittegularitses. DISCLOSURE OF INFORMATION TO AUDITORS Each of the pwsons who 8re Trustees at the lime when this TnJstee5' Report is approved has Conffird that.. so far as that Trustee is aware, there is no relevant aud5t inf0mtIOn of which the charitys auditors are unaware, 8nd that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit infomiation and lo establish that the charws audf(ors are aware of that infomi8tion. Pwde 5
THE DEBRA REISS FOUNDATION IA Company Limit8d by Guaranle8 TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2021 AUDITORS The auditors, Wilder Coe Ltd, have indvted Iheir wllingness to continuè in offits. The Designated Trustees will prowse a motion wppoinling the auditors al a meets'ng ofthe Trustees. In preparing this report. the Ttuslees have taken thantsge of the small companies exemptions provided by sedion 415A of the Companies Act 20C6. 2..8..-0.4.- 2o£L This report was approved by Ihe Trustees, on .. and signed on their behalf by. Trustee Page 6
THE DEBFiA REISS FOUNDATION (A Company Llmit8d by Guarant801 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE DEBRA REISS FOUNDATION OPINION We have audfced the financial statements of The Debra Reiss Foundation {the'charitable company'l for the year endèd 30 June 2021 which comprise the Statement of Financwl Activitias, the BaL4nca Sh8818nd the related notes. including a summary of snIfICant accounting policks. The financial reporting framework that has been appli9d in their preparation is applicable law and Unrted Kingdom Accounting Standards, including Financial Reporting Standard 102 The Fin8nci85 Reporting Standard applicable in the UK and Republic of Irela, Iunited lfjngdom Generally Accepted Accounting Practic8}. In our opinion the financial statements= gwe a true and fair vitrw of the slate of the charrtable ccmpan¥s affairs as al 30 June 2021 and of its incoming resources and application of resources. induding rts income and expenditure for the year then ended; have been property prepared in 1rdance wth United King()m Gener81ty Apted Accounting Practi., and have been ppared in accordance with the NuiremlS of the Charitiès Act 2011. BASIS FOR OPINION We conducted our auéit in attOrdan WTth International Standards on Auditing (UK) IISAS (UlQl and applic3ble law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial slalements section of our report. We are independent of the charitable company in accordan with the 91hical reqU1MentS that are relevant lo our audrt of the financAI statements in the United Kingdrxn, including the Financial RekK)rting C(yJncil's Ethi¢01 Stsndard, and we have fulfilled our olhor ethical responsibilities in accordan wlh these requiram&nls. We bèli8V& that the audr( evidence w8 have (l)lained is sufficient and appropriate to provide a basis for our winion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial stslements. we have COlUded Ihal the Truslees. use of the going concern basis of accounting in the preparation of the financial stat@nts És appropriate. Based on the work we have perfomied, we have not identified any material uncertainties retIng lo events or conditions that, individually or collectivety. may cast signrficanl doubl on the ¢harilable company's abilty lo continue as a going conrn for a period of at t tsyelve months frorn when the financial statements are gulhorised for issue. Our responsibilikn'es and the responsibilities of the TnJsts with respect to going concem are described in the relevant 8ections of this report. Page 7
ThE DEBRA REISS FOUNDATION (A Company Llmitgd by Guarantse) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE DEBRA REISS FOUNDATION (CONTINUED) OTHER INFORMATION Th8 Oth8r infarnation comprises the information induded in the Annual Report othgr than the financial slatemonts and our Auditors. Report then. The Trustees are resFy)nsible for the other infomiation contained within the Annual Report. Our opinion on the financial statements does not cover the other inforTnation and, except lo the extent otherwise explicitly stated in our report, we do not express any fom of assurance ¢onclusion Ihereon. Our responsibilty is lo read the other inlonnalion and. in doing so, consider whether the other information is materially inconsistent with the financial statements or Dur knowledge oblained in the course of the audi(. or othemise appears lo be materialty misstated. If we identify such rnaterial inconsistencies or apparent malerial misstatements. we are required lo determine whether this gwes rise lo a material misslatemenl in the financial statements thems@s. If, based on th8 work we have perfomied. V conclude that there is a material misstatement of this other infornabon, we are requir1 to report Ihat ft. We have nothing to report in this regard. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have Th)thing to report in respect of the followng matters where the Chariiies (Accounts and Fieport51 Regulations 2rK)8 requires us to report to you if, in our (pinion: the information gwon in the Trustees. Report is inconsistent in any material respect with the financral 8ts1emenls'. or sufficient accounting records have not been k8Pt,' or the financial statements are not in agreement with the accounting rrdS and retums,. or we have not received all th8 information and expkqnalions we require for our audr(. RESPONSIBILITIES OF TRUSTEES As explained mor8 fvlty in the Trustee5' Responsibilities Statement, th8 TnJsl88s {whD ar8 also the directors (rf the charf(able company for the purposes of company are responsible for the preparation of the financigl statements and for being satisfied that they gNe a true and fr view. and for such inlemal control &s the Trustees deteTmine is necessary lo enable the prepardtion of financial statements thal arp free from material misstatement, whether due to fraud or error. In preparing the fi'nancial stalenpnts, the Trus188s 8re r8sponsible for assessing the charitsble company's ability to continue as a going concern. disclong. as applble, mattets related lo g(Mng concem and using the going concem basis of accounting unless the Trustees either Intend to liquidale the charitable company or to cease operat*)ns, or have no realistic alterre but to do so. Page 8
THE DEBRA REISS FOUNDATION IA Company Llmlted by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE DEBRA REISS FOUNDATION ICONTINUED) AUDITORS. RESPONSIBIUTIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS We have been appointed as auditor under section 145 of the Charilies Act 2011 and report in accordanc8 wf(h the Act ?nd relevant regulations made or han9 ekt Ihereunder. Our objeclwes are to obtsin reasonablo assurance about whether the financial slalgmenls as a who are free from material misstatement, whether éue to fraud or error. ané to issue an Auditor8. Report that includes our opinion. Reasonable assurall is a high level of assurance. but is not a guarantee that an audit Conduct in accordance with ISAS IUKI VMII aayS detect a material misstatement when it exists. Misstatement8 can ari8e from fraud or error gnd are consKlered material rf, indmdualty or in the aggregale, they could reasonabty be expected to influence the economic deusions of users tsken on the b8sis ofthese financial statements. Irregularities, induding fraud. are instances of non-complianc with laws and regulations. Wa design prctedures in line wrfch our rBsponsibililEs. oullined above, to dett material misstatements in respeLI of irregularities, including fraud. The exlent to which our procedures are capabb of detecting irregularities, including fraud is detailed bel¢M: Discussions vvith and erquiries of management and those charged with g0veMan were he wth a view to identfyiro those laws and regulations that could be eXpt to have a material impact on the financial slatèmenls. During the engag8ment team bri&firrfJ, the outcome5 of thes& discussions and enquiries were sharad with the team, as well as consideration as lo wthere and fraud may ¢xLur in thè entty. The followiro laws and regulats'ons were idenlrfied as being of sKJnifieafft to the entity.. Those Faws and regulations considered to have a direct effect on the financial slalements include UK finan91 reporbng stsndards, company law, and charity legisL4lion. Those laws and regutations for whh non-complianee mty be fundamèntal to the op8rating aspect8 of the business and therefore may have a material eff on the finanual statements. Audit procedures undertaken in response lo the potential risks reLgbng to irtegulatities Iwhith include fraud and non<0mplian with kws and regulalionsl mPrised OF. enquiries of management and tknse charged wl(h govemanc8 as lo whether the entity cc%npli8S Wtth such laws and regulations; &nquiri8s with the same concerning any actual or potential litigation or claims,. inspedKJn of relevant legal Corresponden,. testing the appropriateness of joumal entries.. and the performance of analytal review to identfy unexpected movemènts in account balances which may be indicatNe of fraud. No instances of material norKompl1an were Klentifi&l. Hwver, the likelihood of detecting irr8gularities, including fraud, is limrted by the inherent difficulty in detb"ng irregularities, the Èffèctiveness of the entty's controls, and the natur8, liming and extent of the audrt procedures perfOrnd. IrTegularities that result frum fraud might be inherently more difficult lo detect than irwularities that resutt from error. As explained above, there is an unavoidable iisk that material misstatements may not be deterAe(l. even though the audi( has been planned and performed in ardance with ISAS {UKI. A further description of our responsibilfcies for the audit of the financial statements is located on the Finaneial Reporting CoUn1,S website 81. vwM.frc.o .ukJauditorsres sibile5. This description fom)s part of our Auditors, Report. Page 9
28 April 2022
THE DEBRA REISS FOUNDATION IA Company Llmlted by Guarantso) STATEmETr OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 JUNE2021 Unrestrictod lunds 2021 Total funds 2021 Total fvnds 2020 Note INCOIAE FROM: Inve81ment8 198,650 198,650 261,031 TOTAL INCOME 198,650 198,650 26f,031 EXPENDITURE ON: Raising fund5'. Expenditure on other actmlies Investment management Charitable acliwties 8,281 3517 Is59/ 8,281 35,817 16,559 28,435 40,307 70,345 TOTAL EXPENDITURE 59,657 59,657 139,087 NET INCOME BEFORE INVESTMENT GAINSIILOSSES) Net gain81llossesl on investments 138.993 741.171 138.993 741.171 121,944 (94,435) NET MOVEMETrif IN FUNDS 880,164 880,164 27, RECONCILIATION OF FUNDS: Total funds brought foThvard Net movement in funds 6.804.425 880.164 6,604,425 880.164 6,576,916 27,509 TOTAL FUNDS CARRIED FORWARD 7,484,589 7W,589 6,604,425 The Statement of Fingncigl A¢trth"es Irude¥ all gains and bsses recognBed in the year. The notes on pages 13 to 20 forTn part of these fin8n(yal staternerts. Page11
THE DEBRA REISS FOUNDATtON {A Company Llmlted by Guarantee) REGISTERED NUMBEIL. 10237698 BALANCE SHEEr AS AT 30 JUNE 2021 2021 202Q Note FIXED ASSETS Inv8stment8 CURRENT ASSETS 5.299.635 3,953,234 Debtors Cash at bank and in hand 10 1,6TT,959 514.655 2, 130.904 526,887 2,192.614 2,657, 791 CREDITORS: amounts falling duewithin one year 11 17,6601 (6,6CIg) NET CURRENT ASSETS 11H954 2,651, 191 NET ASSETS 7,484,S89 6,604,425 CHARITY FUNDS Unrestricted funds 7.484.589 6,604,425 TOTAL FUNDS 7A84.589 6,604,425 Th8 Trus188s acknowledge their responsibilrties for ctxnplyng with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance Yth the prov[SnS applicable lo entit68s subject tr) the small companies r8gimg. The financial statements were approved and authorised for issue by the Trustees on ........ ............ and signed on their behalf by. D. A. Reiss Trustee The notes on pages 13 to 20 foTh part of these finanrial statements. Pa3e 12
THE DEBRA REISS FOUNDATION Company Lirnited by Guarnnt881 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 GENERAL INFORMATION The Debra Reiss Foundatw)n (company nUMr. 102376981, having rts regisler6d offic0 and principal place of busin8ss al First Flcor, Whf(e Lion House, 64a Highgate High Street. London. United Kingdom, N6 5HK is a private company limi( by guarant irujrporaled in England anLI Wales. ACCOUNTING POUCIES 2.1 Basls of preparatlon of Ilnanclal ststsments The financial stslefflents have been prepargj in ardance wrf(h Accounting and Reporting by Charities.. Statement of R6commended Pwlice applicgble lo charities preparing their accounts in gccordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20151- (Charities SORP IFRS 102}). the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies AGt 2006. The Debra Reiss Foundation meets the definrtion of a public benefit entity under FRS 102. Assets and liabilities are in1b.al recc¥Jnised at historical cost or transaciion value unless otherwise slated in the relevant accounling policy. 2.2 Company status The company is a company limTted by guarantee. The memL*TS of the company are the Trustees named on page 1. In the event of the rnPany being wound up, the liability in respect of the guar4nlee is limited 10 £10 per member of the crynpany. 2.3 Income All income is recognised once the Company has entement to the income, f( probabl& that Ihe ineome will b8 received and the amount of Irne receivable can b8 measured reliably. 2.4 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benef(( to a third paty, il is Prable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be [rSured reliably. ExpendFture is classified by aclmty. The costs of each activty are made up of th8 total ol direct costs and shared costs, including support cost5 involved in undertaking each activity. Direct cosls attributable lo a single adivity are allocated directly to that adivily. Shared costs whth ctsnlribule to more than one activity and support costs which are not attributable lo a single activty are apporboned between those activf(ies on a basis consistent wlch the use of resou5. Central staff costs are allated on the basis of time spent, and depreciation charges allocated on the wrtion of the 8sset's use. Costs of generating funds are costs irUrred in attracting vduntary irKome. and those iUrred in trading actÉvities that raise fvrKIs. Charitable activtties and govemane£ costs are costs incurred on the companls operations, in¢luding support costs and costs relab.ng to the governan of the company apportioned to charitable activities. P4e13
THE DEBRA REISS FOUNDATION {A Company LimTted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 ACCOUNTING POUCIES {coKfiNUED} 2.5 Investmenls Fixed asset investments are a forni of fin8ncial instrument and are inilialty rOgniSed at their transaction cost and subsequentty measured at fair value at the Balance Sheet data. $S the value cannot be measured reliab in which case ti is measur8d al cost less impairment. Investment gains and losses, whether realised or unrealised. are combined and presented as 'GainsllLossesl on inveslmenls, in the Slement of Financial Activitie8. 2.8 Interest recefvable Inl8r8St on funds h8kl on dep)sit is inctuded when rl¥ab and the amwnl can t measured reliably by the company, this is nomwtly Up( notrFcati'on of the interest paid or payable by the bank. 2.7 Dgbtors Trade and other deblors are recogni1 at settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and short temi highly liquid invèstments s short maturty of three months or from the date of a>4UiSithJn or opening of the deposit DT similar account. 2.9 Uabllltlo$ and provlslons Liabilities are reccgnised when there is an ci)ligatK)n * the Balan Sheet dale as a re8utt of a past event, il is probable that a transfer of economic benefrt will be required in settlemènt, and the amount of the settlement can be estimated reliably. Liabilities are recognis8d at the amount that Ihg company anlicipales Ic will pay lo settle the debt or the amount it has received a8 advanced payments for the gocs or service8 It must provKIe. 2.10 Financtal instrum8nts The company only has ffinanoal assets and financial liabilities of a kind that qualify a8 basic financlal instruments. Basic financial inslnjmenls are in(tsa]ty reniSed al transaGtK)n value and subsequently Measur al Ih8ii settl8m8nt value. 2.11 Taxation The company is considered to pas5 the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and thefore it meets the definilion of a challtable Gompany foi UK cotporation lax purposes. Accordingly, the company is polentialty exempt from taxation in respect of incc*ne or capital gains receNed wfthin categories covered by Chapter 3 Part 11 of th& Corporation Tax Act 2D10 or Section 256 of the Taxation of chargeab Gains Act 1992, to the extent that sh income or gains are applied exclusively to charitable purposes. 2.12 Fund accounting General funds are unrestricted funds vthich are availab for usè at the discretion of thè Trustees in furtheran of the general objectives of fhe company and which have not bn designated for other purposes. Page 14
THE DEBRA REISS FOUNDAnON (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 ACCOUNTING POLICIES (CONTINUED) 2.13 Statement of Cash Flows Tha charitable wmpany k8 exempl from the wulrent lo produce a Statement of Cash Flows on the grounds that it is a small charity. INVESTMEP INCOME Unrestricted funds 2021 Total funds 2021 Investment inwme - dividends frcTh listed investments Investment income - local cash Investment income - interest on other investmer 71.199 219 71,199 219 127,232 127,232 198,650 198.650 UnScted funds 2020 Total funds 20 Investment income- dwidends from listed investsnents Investment incon*- interest on other investments 94,575 166,456 94,575 166,456 261,031 261,031 Page 15
THE DEBRA REISS FOUNDATION (A Company Umlted by Guarants8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 ANALYSIS OF EXPENDITURE ON FUNDRAtSlNG ACTIVITIES Fundraising actEvities Total lunds 2021 Investment management fees Support costs {Nole 51 vemance costs (Note Sl 35.817 781 35.817 781 7.500 7.500 44.098 44,098 Fundraising acliviti&s 2020 Total fvnds 2020 Inv8Stmenl management fees Support costs {Note 51 G0veMan wsts (Note 51 40,307 21,835 6.600 40,307 21,835 68, 742 68,742 Page16
THE DEBRA REISS FOUNDATION (A Company Limited by Guarantsg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 ANALYSIS OF SUPPORT AND GOVERNANCE COSTS Gèneral Governanc6 support function Total funds Auditors, remuneration Bank charges Subscriptv)ns 7.500 7.500 191 590 191 590 781 7,500 8,281 General support 2020 Govgnp2nc8 function 2020 Tol funds 2020 Auditors, remuneration Bank charg& Subscriptions Ac£ountancy Legal and professional Adverti'sing 6,6fJO 6,6( 296 239 1,200 12,C 8, 100 239 I,2(? 12,000 8. 100 21,835 6.6C 28,435 Pag817
THE DEBRA REISS FOUNDATION IA Company Llmw by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 ANALYSIS OF EXPENDrruRE OM CHARITABLE ACTIVITIES UnrestrEcted funds 2021 Toial funds 2021 Charitabl8 activl(ies 15.559 15.559 Unwtncted fvnds 2020 Tot81 funds 2020 Charitable athibes 70,345 70.345 Summary by expenditure type Total funds 2021 2021 Donation8 to other charitable cal 15,559 15.559 Tolal fuffKIs 20 20 Donations lo other chatit8ble causes 70,345 7Q,345 AUDITORS. REMUNERATION The auditors, remuneraion amounts to an auditor fee of £7,50012020- £6,6t. P4e 18
THE DEBRA REISS FOUNDATION IA Company Llmltod by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 EMPLOYEES The average nLÉmb8rof persons employed by the Company during the year was as foltows.. 2021 2020 Tru81ee8 No employe8 r8C8ived remuneration amounting lo mre than £60,000 in erf(her year. During the year. no Trustees received any remuneration. boneffts in kind or reimbursement of exp8nses, FIXED ASSET INVESTMENTS Other Investments Cost or marftet value At l July 2020 Additions Disposals R8valualion8 3.963.234 2,518,029 11,761.4231 589,795 AI 3D Junè 2021 5,299.635 Net book value At 30 June 2021 5.299.635 At 30 June 2020 3,9,234 10. DEBTORS 2021 2020 Due wlthin one year Other debtors PreyMentS and accrued incor 1.677,661 2. 130,606 298 1.677.959 2, 130,904 Page 19
THE DEBRA REISS FOUNDATION {A Company Llmited by Guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 11. CREDITORS: Amourrts falllng du8 vAthln one year 2021 2020 OtheT creditors Accruals and d8ferr8d inccMn8 160 7.500 7.660 12. SUMMARY OF FUNDS SUMMARY OF FUNDS - CURRENT YEAR Balancg at 1 Incomlng Rgsourcos July 2020 resources expended Gainsj ILossgsI Balance at 30 Jun& 2021 6.604,425 198.650 159,657> 741,171 7,484,589 Unrestricted funds 13. RELATED PARTY TRANSACTIONS The Company has not entered into any reLatèY party trdnsactK)n during the year, nor are there any outstanding balances Lwng betrRen related parties and the Company at 30 June 2021. Paje 20