Reglstered number: 10237698 Charlty number: 1169323 THE DEBRA REISS FOUNDATION (cOmpan-LlMlted by Guarante6) -- TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
THE DEBRA REISS FOUNDATION IA Company Llmlted by Guarantee) CONTENTS P8ge Reference and Administrative Details of the Company, its Trustees and Advlsers Trustees, Report Ind_ependent Audltors, Report on the Flna_nclal s.tate_ments 7-10 Statement of Flnanclal Activlties Balance Sheet 12 Not68 to the Financial Statements 13-22
THE DEBRA REISS FOUNDATION (A Company Limlted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 Trustees D, A. Reiss D. R. Reiss Company reglstered number 10237698 Chartty raglstered numbar 1169323 R8gistered office First Floor, White Lion House, 64a Highgate High Street, London, N6 5HX Independent audltors Wild8r Coe Ltd, 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL Page 1
THE DEBRA REISS FOUNDATION IA Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Truste68 pr8s8nl Iheir annual report together with the audited financial statements of The Debra Reiss Foundation (the 'Company') for the year 1 July 2023 to 30 June 2024. The Annual Report serves the purposes of both a Trustees, Report and a Directors, Report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charltsble companvs governing document and the provisions of the Statement of Recommended Practice ISORP) applicabl& to charities preparing thgir accounls in aCrdance with th8 Financial Reporting Standard applicable in the UK and Republic of Ir81and (FRS102) (effective 1 J8nuary 2019). Since the Company qualifi@s as small under section 382 of the Companies Act 2006, the Strat8gic R8POrt requlred of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activltles . POLICIES AND OBJECTIVES The principal obj8Ctivg8 of the charity as set out in the governing document are.. To asBl8t in such ways as th8 charity thinks fil any charity whose aims include advancing education of persons in the UK or worldwide by developing their individual capabilities, competences, skills and und8rst8nding in subjects of education81 value or in developing their mental, physical and moral capabilities through leisure lime activities. To relieve poverty or financial hardship in the UK or worldwide by providing grants, items and services lo individuals in need andlor charities or oth8r organisations working to r8lieve poverty. To develop the capability and skills of Socially disadvantaged communities in the UK in such a way that they are better able to identify and help meet their needs and to partl¢lP8te more fully in society by the support of and providing grants and donations to charities whose objectives include these aims. To promote public health in the UK and worfdwide for the benlt of the public by providing assistanc8 and grants to other charities and organisalions working in the field of medical research and advancement. and To promote humane behaviour tawards animals by assisting or providing donations or grants to charity or organisation which is providing donations or grants to any charity or organisation which is providing appropriate care, protection, treatment and security or animals which are in need cf care and attention by reason of sickness, maltreatment, poor circumstsnces or ill usage and to educate the public in matters pertaining lo animal welfare and the prevention of cruelty and suffering among animals. b. PUBLIC BENEFIT The Trustees confirm th8t they have, in the administralion of the charity, paid due regard to the public benefit guidance published by the Charity Commission under section 4 of the Charities Act 2011, Page 2
THE DEBRA REISS FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Achievements and perfomianc@ a. REVIEW OF ACTIVITIES Historic donations 8nd subsequent income reiVed wa8 invested across 3 investment funds during 202412023.. There are 3 investment funds in lace at the year end. In addition, funds have been invested into brid faGilitl8s of which th6r8 are 2 in place at the year end. In Donations to other charities totalled £8,500 (2Q23.- £9, 075). It is expected that further donation8 will be made in 2025 for the furtherance of the charitys objectives, The charity also undertook charttable activities directly including donating items to a local homeless shelter through the Synagogue Food Bank as well as donating fO0ear to various schools in Brent, Barnet and Harringay. Costs incurred relating to this activities lota118d £26,254 (2023.. £58, 176) b. INVESTMENT POLICY AND PERFORMANCE The Trustees have considered the options available and have decided to invest Ihe funds they have received by way of donations in commercial common investment funds as well as other funding solutions to obtain long term return on inv88tments, Trustees Glosely monitor the performance of investments and make changes as neessary, Risk profiles are agreed with each investment fund in advance. Financlal revlew a. GOING CONCERN After making 8ppropriale enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the accounting policies. b. RESERVES POLICY The current reserve policy is to protect the Companls charitable property, including the investments held and to séek to ensure th8 solvency of the company. The Trustees continue to follow a resee8 policy which reflects Ihe precise risks and oth8r circumstances ofthe time. The total funds held al the year end are £7,727,330 (2023.- £7,067,494). All funds are unrestricted, c. PRINCIPAL FUNDING The principal fvnding of the Comp8ny has the investment income received on funds arising from donations made in earlier periods. It is intended that these funds should assist with the charitable purpose of the charity for number of years. d. MATERIAL INVESTMENTS POLICY The mal8rial investm8nts of the Company ar@ its inv8Stments in various share portfolios. The policies relating thereto and their performance is dealt with in the accounting palici88 and not6S to tha accounts. Page 3
THE DEBRA REISS FOUNDATION IA Company Llmlted by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Structur&, governance and management . CONSTITUTION The Company is registered as a charit8ble company limited by guarant8e and was set up by a Memorandum of Association on 17 June 2016. The Company's ch8ritable number 18 1169323 and its r8gist@r8d company numbgr is 10237698. Th8 Company is registére att owing 8ddress', First Floor White Lion House 64a Highgate High Street London N6 5HX b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the Company is the responsibility of the Trustees who are elected and ¢o-opted under the t8rms of th8 Articl8s of Association. Trustees are appointed at the discretion ot the acting trustees at the Annual General Meeting. c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES There is no set policy in place for th8 induction and training of new trustees and this 18 arranged as required. d. PAY POLICY FOR SENIOR STAFF All directors, who are also trustees of the charity, give their time freely and no director reiVed remuneration in the year. e. ORGANISATIONAL STRUCTURE AND DECISION MAKING The board of Trustees with a minimum of Iwo members, administer the charity. The Trustees who served during the year were as follows., D. A. Reiss R. J. Reiss (deaseC1 22 January 2024) D. R. Reiss The Company's auditors are Wilder Coe Ltd, Chartered Accountants & Stalutcry Auditors, 1st Floor Sackville Hous8, 143-149 F8nchuroh Street, London, EC3M 6BL. f. RISK MANAGEMENT The Trustees have assessed the major risks to which the Company is exposed, in particular th08e related lo the operations and finances of the Company, and are satisfied that systems and procedures are in Pla to Mitigate exposure to the fflajor risks. Page 4
THE DEBRA REISS FOUNDATION (A Company Limited by Guarantee) TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Plans for future periods a. FUTURE DEVELOPMENTS Th8 Debra Reiss Found8tion predominantly donates brand n6w clothing essentials to underprivileg6d primary school children in the local 8reas. For exarnple, In previous years we gave out over 2,500 keep warm kits which included a hat, snood, thermal vest, gloves, all In a re-usable bag. We also donat8d thousands of brand new trainers, plimsolls and fleece lin8d winterjackets d&p8nding on the need of the schools. Additionally, 18St year we gifted a charty hundreds of winter jackets which were sent to different locations for those in need. In the future we are looking to expand the amount of don8tions and give out more essential clothing15hoes to those in need, This SummerlAutumn we have, so far in the schedule, a plan to donate thousands of winter jackets and sh08S. W8 our working more directly with charity organisations, such as GIFT, Sebbls Corner, various Food Banks and other UK based charities. Additionally, we will keep working with both Bam8t and Haringey Councils and primary schools directly in the local area in-line with the charitabl8 objectives. TRUSTEES. RESPONSIBILITIES STATEMENT The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for pr8paring th8 Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice) Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stsle of affairs of the Company and of its incoming resour$ and application of resources, including ts incom8 and expenditure, for that period. In preparing these financial statements, th8 Trustees are requir8d to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP (FRS 1 D21- make judgments and accounting estimates that are reasonabl6 and prudent., state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and @xplained in th& financial statetn8n15-, and prepare the financial slatements on the going concern basis unless tt 18 inappropriate to pr8sum8 that the Company will continue in business. The Trustees are responsible for keeping adaquate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial slatemenls comply with the Companies Act 2006, They are also responsible for safeguarding the assets cf the Company and henca for tsking reasonable steps for the prevention and detection of fraud and other irregularities. DISCLOSURE OF INFORMATION TO AUDITORS Each ofthe persons who are Trustees at the time when this Trustees, Report is approved ha8 confinned that,, so far as that Twstee is aware, there is no relevant audit information of which the charitls auditors are unaware, and - that Trustee has tsken 311 the steps that cughl lo have been taken as a Trustee in order to be aware of any relevanl audit information and lo establish that the charitls auditors atE aware of that information. Page 5
THE DEBRA REISS FOUNDATION IA Company Llmlted by Guarantee) TRUSTEES, REPORT (CONTINUED> FOR THE YEAR ENDED 30 JUNE 2024 AUDITORS The auditors, Wilder Coe Ltd, have indicated their willingness to continue in office. The Designated Trustees will propose a motion re-appointing the auditors at a meeting ofthe Trustees. In preparing this report, the TTust688 have taken advantage of the small companies exemptions provided by section 415A of the Companies Acl 2006. This rapoit was approve nd signèd on (heir b8half ti. A. Relss Trustee Page 6
THE DEBRA REISS FOUNDATION IA Company Llmlted by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE DEBRA REISS FOUNDATION OPINION We have audited the financial slatemenls of The Debra Reiss Foundation Ilhe 'charitable company'l for the year ended 30 Jun& 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of 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 'Tha Financial Reporting Standard applicable in the UK ctRepu&li0of_IrB.lan£L(Unitg£lJ£lrJgdot&&ne.tajlyaoORteAG0¢ljng_PtaC1IGR), In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 30 June 2024 and of its incoming resources and application of resources, including its income and expenditure ft)r the year then encled,, h8ve 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 r6sponsibilities under those standards are further described in Ihe Auditors, responsibilities for the audit of the financial statements se¢tion of our report. We are independent of the charitable company in accordance with the ethical requirements that ar8 relevant lo our audit of the financial statements in the United Kingdom, including Ihe Financial Reporting Council's Ethical Standard, and we have fulfilled our other elhical responsibilities in accordance wilh these requirements. We believe that the audit evidence we hav8 obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing Ihe financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriale. Based on the work we have performed, we have not identified any material uncertainlies relating to events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to continue as a going concern for a period of at least Iwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with r8spect to going concern are described in the re18vant sections of this report. Page 7
THE DEBRA REISS FOUNDATION (A Company Llmlted by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE DEBRA REISS FOUNDATION ICONTINUED) OTHER INFORMATION The other information comprises th& information included in the Annual Report other than the financial statements and our Auditors, Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financlal statements doe8 not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance DnclUsion_Ih£tRon_Qur_r&spoJL%ib.ility_ido..iea_the..o.tenb.rmatEand,-1n_.d0lng_SO.,-CQdOlIher1be other infomiation 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 8re required to determine whether this giv&s rise to a material misstatement in the financial statements themselves. If, based on the work we have perfonned, we conclude that there is a materi81 misstatement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2008 In our opinion, based on the work undertaken in the course ofthe audit,. the information given in the Trustees, Report for the financial year for which the financial statements are ppared is consistent with the financial statements., and the Trustees, Report has been prepared in accordance with applicable legal requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audÈt, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following malters where the Charities (Accounts and R6portsl Regulations 2008 requires US to report to you rf, in our opinion.. adequate accounting records hav8 not been kept, or returns adequate for our audit have nol b8en received from branches not visited by us; or th8 financial statements are not in agreement with the accounting records and returns,. or certain disclosures ofTruslees' remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit; or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantsge of the small companies, exempticns in preparing the Trustees, Report and from the requirement to prepare a Strategio R8POrt. RESPONSIBILITIES OF TRUSTEES As explained more fully in the Trustees, Responsibilities Statement, the Trustees {who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of thé financial stal8ments and for being satisfied that they give a true and fair view, and for such internal contro1 as the Trustees determin8 is necessary lo 8nab18 the preparation of financial statements that are free from material misstatement, whether due to fraud cr error. In preparing the financial stslements, -the Trustees are responsible for assessing the charitable comp8ny's abilty to continue as a going concern, disclosing. as applicable, matters related to going concem and using the going concern basis of accounting unless the Trustees either intend to liquidate th8 charitable company or to cease operations, or have no realistic alternative but to do so. Page 8
THE DEBRA REISS FOUNDATION {A Company Llmlted by Guarantee INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE DEBRA REISS FOUNDATION (CONTINUED) AUDITORS, RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance aboul wh8th&r the financial statements as a who18 ar8 fr8e from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance, but 15 not 8 guar8ntee that an audit conducted in accordance with ISAS (UK) will always detect a material mis8tat8ment whèn it 8XlSts. Misstatements can arise rom fraud or error and are consifrnerial-ifindividually or in the aggrega ere ma e hey could reasona 8XP8Cted to influence the economic deci8ion8 of users taken on the basis of these'financial statements. Irrégularities, including fraud, are instance8 of non-complianc8 Wlth laws and regulation8. We design procedures in line with our responsibilities, outlined above, to detect materlal misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of d8t8cling irregularities, including fraud is detailed below.. Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be 8xpected to have a material impact on the financial slatemenls. During the engagem8nt t&am bri8fing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity. The following laws and regulalions were identifi8d as being of significance to the entity, Th08e laws and regulations considered to have a direct effect on the financial statements include UK financial repcrting standards, company law, and charty legislation. Those laws and regulations for which non-compliance may be fundamental lo the operating aspects of the business and th@r8for8 may have a material effect on the financial stal8m8nts. Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of.. enquiries of management and those charged with govemance as lo whether the entity complies with such laws and regulations, enquiries with the same Concerning any actual or potential litig8tion or claims. review of minutes. testing the appropriateness of journal entries,. and the performance of analytical review to idenlify unexpected mov8ments in account balance8 which may be indicative of fraud. No instances of maleiial non-compliance were identified. However, the likelihood of d8t8cling irregularities, including fraud, is limi18d by the inh6rent difficutty in detecting irregu18rities, the effectiveness of the entity's controls, and the n8ture, timing and ext@nl of the audit procedures performed, Irregularilies that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above. ther8 is an unavoidable risk that material misstatements may nol b8 det8cted, even though the audit has been planned and performed in accordance with ISA5 (UK). A furthèr dascription of our responsibilities for Ihe audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.or .uklaudilorsres onsibilities. This description foms part of our Auditors, Report. Page 9
THE DEBRA REISS FOUNDATION {A Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE DEBRA REISS FOUNDATION (CONTINUED) USE OF OUR REPORT This report is made solely to the charitable CoMpanS members, as a body, in accordance wth Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors, 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 charitable company and its members, as a body. for our audit work. for this report, or for the opinions we have formed. Charlotte Willmore BFP ACA (Senior Statutory Auditor) for and on behalf of Wilder Coe Ltd Chartered Accountants & Statutory Auditors 1 st Floor Sackville House 143-149 Fenchurch Street London EC3M 6BL 29 April 2025 Page 10
THE DEBRA REISS FOUNDATION (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUND FOR THE YEAR ENDED 30 JUNE 2024 Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Nota INCOME FROM: Donations and legacies Investments 72,740 3S8,061 412,224 TOTAL INCOME 412,224 412,224 440, 801 EXPENDITURE ON: Fiaising funds,, Expenditure on Other activities Investment management Charit8ble 8Ctivities 9,780 107,316 36,254 9,780 107,316 36,254 70,023 49, 068 176,488 TOTAL EXPENDITURE 153,350 153,360 235, 579 NET INCOME BEFORE NET GAINSI(LOSSESI ON INVESTMENTS Net gainsl{losse81 on investm8nls 258,874 400,962 258,874 400,962 205, 222 (133, 497) NET MOVEMENT IN FUNDS 659,836 659,836 71, 725 RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds 7,067,494 659,836 7,067,494 659,836 6,995, 769 71, 725 TOTAL FUNDS CARRIED FORWARD 7,727,330 7,727,330 7,067, 494 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 1310 22 form part of th8s8 financial statements. Page11
THE DEBRA REISS FOUNDATION (A Company Limited by Guarante8) REGISTERED NUMBER: 10237698 BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Note FIXED ASSETS Investments .URRENIA&SET&_ 11 7,221,164 5, 833,034 Debtors Cash at bank and in hand 12 298 522,668 298 1,250,459 522,966 1,250, 757 Creditors: amounts falling due within one year 13 116,800) (16,297) NET CURRENT ASSETS 506,166 1,234,460 NET ASSETS 7,727,330 7, 967,494 CHARITY FUNDS Unrestricted funds 14 7,727,330 7, 067,494 TOTAL FUNDS 7,727,330 7, 067,494 The Trustees acknowledge their responsibilities for complying with the requirem8nts of th8 Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provision8 applicable lo entities subj8cI to thè small companies regim8. The financial statements were approved and authorised for issu8 by the Trust9 on . and signed cn their behalf by.. D. A. Reiss Trustée The notes on pages 13 to 22 form part of these financial statements, Page 12
THE DEBRA REISS FOUNDATION (A Company Llmlted by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 GENERAL INFORMATION The Debra R6iss Foundation (company number.. 102378981, having its registered office and principal place of business at First Floor, White Lion House, 64a Highgate High Street, London, United Kingdom, Ne 5HX, 18 a private charitable company limiled by guarantee incorporated in England and Walès, ACCOUNTING POLICIES 2.1 Basis of preparatlon of flnanclal statements The financial statements have been prepared in accordance with the Charities SORP (FRS 1 D21 Accounting and Reporting by Charities,. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appliGable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. The Debra Reiss Foundation meets th8 d8finition of a public benefit entity und8r FRS 102. Ass8ts and liabilities are initially recognised al historical cost or transaction value unless otheiSe stated in the relevant accounting policy. 2.2 Company status The Company is a company limtted by guarantee. The members of the Company are the Trustees named on page 1. In the event of the Company being wound up, the liability in respect of the guarantee is limited to £10 per member of the Company. 2.3 Income All incom8 is recognised once the Company has entitlement to th8 income, it 18 probable that the income will be received and the amount of income receivable can be measured reliably. Donated professional S61ceS and facililies are recognised on reciept, on th8 basis of the value of the gift to the Company which is the amount it would have been willing to pay to obtain the servic8s or facilities of equivalent economiG benefit on the open market,. a corresponding amount is then recognised in expanditure in the period of reciept. 2A Expendlture Expenditure Is r8cogni5ed 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 Ihe amount of the obligation can be measured reliably. Expenditure is classified by activity The costs of each activty are made up of the total of direct costs and shared costs, including support costs involved in undertaking e8ch activity, Direct costs attributable 10 8 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 wtth the use of resources. Central staff costs are allocated on the basis of time spent. Fundraising costs are those incurred in $68king voluntary contributions and do not includ8 the costs of diSminatIng infomation in support of the charitable activities. Costs of generating funds are costs incurred in al1CtIng voluntary income, and those incurred in trading activities that raise funds. Page 13
THE DEBRA REISS FOUNDATION {A Company Limit6d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES (CONTINUED} 2.4 Expenditure (contlnuedl Charitable activities and governance costs are costs incurred on th& Company's operations, including support costs and costs relating to the governance of the Company apportioned to charitsble activities. 2.$ Investments Fixed asset investments are a form of financial instrument and are initially recognis8d at their transaction cost and sub88qU8ntly measur8d at fair value at the Balance Sheet dat8, unless the value cannot be m8asured reliably in which case it is measured at cost less impaimient. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on investments, in the Statement of Financial Activitias, 2.6 Interest receivable Interest on funds held on deposit is included when r8C8ivab18 and the amount can be measured reliably by the Company., this is normally upon notification of the interest paid or payable by the bank, 2.7 Debtors Trade and other debtors are recognised at the settlement amount afler any trade discount offered. Prepayments are valu8d at th8 amount prepaid net of any trade di8count8 du8. 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.9 Liabilities and provlsions Liabilities are recognised when there is an obligation at th8 Balanc8 Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised al the amount that the company anticipates it will pay lo settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 2.10 Financlal Instruments The Company only has financial assets and financial liabilities of a kind that qualify 8s basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequentty measured at their settlement value. 2.11 Taxatlon The Company is considered to pass the tests set out in Paragraph 1 Schedule 8 of the Finance Act 2D10 and therefore it meets the definition of a charitsble company for UK corporation tax purposes. Accordingly, the Company is potentially ex8mpt from taxation in r&sp6Ct of income or capital gains received within categorie5 covered by Chapter 3 Part 11 of the Corporation Tax Aot 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains 8re applied exclusively to charitable purposes. Pag8 14
THE DEBRA REISS FOUNDATION IA Company Limitod by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES (CONTINUED) 2.12 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of Ihe general objectives of the Company and which have not been designated for other purposes. 2.13 Statement of Cash Flows The charltable company 18 exempt from the requirement to produce a Statement of Cash Flows on the grounds that it is a small charily. INVESTMENT INCOME Unrestrlcted funds 2024 Total funds 2024 Investment income - dividends from listed investments Investment income - local cash Investment income - interest on other investments 239,011 6,341 166,872 239,011 6,341 166,872 412,224 412,224 Unrestricted funds 2023 Total fvnds 2023 Investment income- dividends from listed investments Investment income- local cash Investmgnt income- interest on other investments 238,266 1,667 128, 128 238,266 1,667 128, 128 368,061 368,061 Page 15
THE DEBRA REISS FOUNDATION (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ANALYSIS OF EXPENDITURE ON FUNDRAISING ACTIVITIES Unrestricted funds 2024 Total funds 2024 Investment m8na ement fees Amounts written off investments Support costs (note 5) Governanc& costs (not8 5) 37,874 69,442 960 8,820 37,874 69,442 960 8,820 117,096 117,096 Unrestricted funds 2023 Total funds 2023 Investment management fees Support costs (note 5) Governance costs (nole 5) 49,068 1,623 8,400 49,068 1, 623 8,400 59,091 59,091 P8g8 16
THE DEBRA REISS FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ANALYSIS OF SUPPORT AND GOVERNANCE COSTS General Governance support function 2024 2024 Total funds 2024 Auditors, remuneration Bank charges Subscriptions Sundry 8,820 244 962 (246) 962 (246) 960 8,820 9,780 General support 2023 Govemance function 2023 8,400 Total funds 2023 8,400 302 Audilors, remungration Bank charges Subscriptions Sundry 302 869 452 869 452 1, 623 8,400 70,023 Pag8 17
THE DEBRA REISS FOUNDATION IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Grants to Institutions 2024 Total funds 2024 Advancing education and personal development Relieve poverty or financial hardshlp Supporting disadvantaged communities Promotion of public health 500 4,000 1,750 2,250 4,000 1,750 2,250 8,500 8,500 Grants to Institufions 2023 Total funds 2923 Advancing education and personal development Relieve poverty or financial hardship Supporting disadvantaged communities Promotion of public health 6,575 I,OCRJ 1,500 6, 575 1, 000 1, 500 9,075 9,075 Page18
THE DEBRA REISS FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Summary by fund type Unrestricted funds 2024 Total 2024 Advancing education and personal development Relieve poverty or financial hardship Supporting disadvantaged communities Promotion of public health 500 31,754 1,750 2,250 500 31,754 1,750 2,250 36,254 38,254 unstricted funds 2023 Total 2023 Advancing education and p8rsonal d8v8lopment Reli8v8 pov8ty or financial hardship Supporting disadvantaged communities 8,575 168,413 7,500 6,575 168,413 176,488 176,488 P8ge 19
THE DEBRA REISS FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ANALYSIS OF EXPENDITURE BY ACTIVITIES Actlvlt18S Grant undertaken fundlng of directly activities 2024 Total funds 2024 2024 Advancing education and personal development Relieve poverty or financial hardship Supporting disadvantaged communities Promotion of public health 500 4,000 1,750 2,250 500 31,754 1,750 2,250 27,754 27,754 8,5QO 36,254 Activities undert8kgn Gnt funding ditBcfly cf aGtivrfies 2023 2023 Total funds 2023 Advancing education and personal development Relieve poverty or financial hardship Supporting disadvantaged communities 6,575 1,000 1,500 6,575 768,413 1,500 167,413 167.413 9,075 176,488 AUDITORS. REMUNERATION 2024 2023 Fees payable to the Company's audvcor for the audit of the Company's annual accounts 8,820 8,400 10. TRUSTEES, REMUNERATION AND EXPENSES During the year, no Trustees received any remuneration or other benefits (2023.. £Ni4. During the year ended 30 June 2024, no Trustee expenses have been incurred12023.' £Nil), Page 20
THE DEBRA REISS FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 11. FIXED ASSET INVESTMENTS Other fixed asset Trade investments investmants Total Cost_or_valuation At 1 July 2023 Additions Disposals Revaluations 4,118,648 1,644,297 {653,173} 396,231 1,713,928 1,233 5,832,576 1,645,530 1653,1731 396,231 At 30 Jun6 2024 5,506,003 1,715,161 7,221,164 Net book value At 30 June 2024 5,506,003 1,715,161 7,221,164 At 30 June 2023 4, 118,648 1, 713,928 5, 832,576 12. DEBTORS 2024 2023 Du8 Within on8 year Prepayments and aGcrued income 298 298 13. CREDITORS.. Amounts falling due within one year 2024 2023 Other creditors Accruals and deferred income 97 16,200 16,800 16,800 16,297 Pag8 21
THE DEBRA REISS FOUNDATION {A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 14. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 1 July 2023 Galnsl Balance at 30 (Losses) June 2024 Incom8 Expenditure Unrestrlctedfjunds Reserves 7,067,494 412,224 (153,350) 400,962 7,727,330 15. RELATED PARTY TRANSACTIONS During the prior year, th8 charitab18 Company entered into a le8se agr88m8nt with a connected company in ord8r to access warehouse facilities to assist with the sorting of goods for donation to other organisations. This was for a peppercom renl. As this constitutes donated faciliti8s, an adjustment has was made to recDgnis8 the donation and equivalent expense of £Nil (2023.. £72,240). The charitable Company has nol entered into any other related paty transactions during the year. nor ar8 there any outstanding balan$ owing b8Meen related parties and the charitable Company at 30 June 2024 (2023.. £Ni4. Page 22