2020-12-31-accounts

London Emergencies Trust

Registered charity 1172307 Registered company 09928465

Trustees Report and Accounts for the year ending 31 December 2020

LONDON EMERGENCIES TRUST

FOR THE YEAR ENDED 31 DECEMBER 2020

Contents
	Page
Company Information	1
Chair’s Report	2
Trustees Report	3-10
Independent Examiner's Report	11
Statement of Financial Activities	12
Balance Sheet	13
Cash flow Statement	14
Notes to the Financial Statements	15-19

LONDON EMERGENCIES TRUST

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2020

Company Information

Directors and Trustees

Gerald Oppenheim, Chair Robert (Robin) Allen Bharat Mehta (resigned 8[th] June 2021) Carole Souter Thelma Stober Caroline Forster (appointed 16[th] September 2020) Clare Thomas (resigned 3[rd] January 2020) Geeta Nargund (resigned 20[th] January 2020)

Company Secretary

James Banks, Chief Executive London Funders

Legal advisors

Farrer & Co LLP 66 Lincoln’s Inn Fields London WC2A 3LH

Wrigleys Solicitors LLP 19 Cookridge Street Leeds LS2 3AG

Independent Examiner Jane Askew Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG

Bankers

Unity Trust Bank 9 Brindley Place Birmingham B1 2HB

Registered office

London Funders Toynbee Hall 28 Commercial Street London E1 6LS

1

LONDON EMERGENCIES TRUST

CHAIR’S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

Looking back on the extraordinary year of 2020 as the global Covid-19 pandemic sent the country into lockdown in the second half of March, it is something of a relief that the London Emergencies Trust (LET) did not have to activate, as remains the case at the time of writing this report. This meant that LET could focus on the activities described in more detail in section 4 of the Trustees’ Annual Report. In particular, this meant we could respond to the Streatham High Road attack in early February and complete the detailed work started in 2019 with our legal advisers to put the trusts in place for four young people, the next of kin of some of those who so tragically died in the fire at Grenfell Tower on 14 June 2017. I am pleased to say that this culminated in the transfer of funds into the trusts, coupled with arrangements with Wrigley’s Solicitors acting as the professional Trustee for all the trusts. The Trustees now receive regular reports from Wrigley’s about each of the four Trusts.

The cornerstones of LET’s work remain the partnerships established in 2017 but building on the relationships first made after the 7 July 2005 London bombings by LET’s predecessor, the London Bombings Relief Charitable Fund. These helped raise and deliver the funds, principally through the British Red Cross (BRC) and its donors as our principal fundraiser, as well as those Trusts and Foundations and the Mayor of London who made generous grants to support our operating costs. Our work with families and friends of those who lost their lives and those who survived all the terror attacks was supported by the Family Liaison Officers and other serving Metropolitan Police officers as well as local authorities leading the humanitarian responses, particularly in Westminster, Southwark and The City of London Corporation. In the response to the Grenfell fire, strong bonds were established with other funders, notably the Kensington and Chelsea Foundation and the Rugby Portobello Trust and the Charity Commission for England and Wales whose role as Regulator so helpfully came to the fore in pulling together information about funds raised and distributed to ensure public clarity and accountability. LET also had regular contact with colleagues at the we Love Manchester Emergency Fund (WLMEF) doing the same work after the Manchester Arena attack.

All these important working experiences and relationships helped the creation of the new National Emergencies Trust (NET), set up in April 2019 and launched formally in November 2019. NET supported LET in its responses to the 2019 and 2020 terror attacks and had to launch itself in the unprecedented emergency response to the Coronavirus pandemic in March 2020. LET’s relationship with NET has continued to develop both through my involvement with fellow LET Trustee Thelma Stober as Trustees of NET (aware of the need to manage any conflicts of interest should they arise and I am pleased to say there have not been any) and through working arrangements between James Banks and the London Funders team and the NET Chief Executive and her senior staff team. During 2021 the relationship between the two organisations will be formalised in a Memorandum of Understanding.

LET has continued to devote time and resource to learning from its work, so that others doing the same in future can learn from our experience, the things that worked as well as where we could have got our response better. I hope that this experience with other colleagues involved in humanitarian and emergency work both at NET and in the wider charity sector continues to be important underpinning to the way in which we respond to local and national emergencies. This was put to the test in 2020 and the changing circumstances of 2021 as we hope to emerge from the way of life Covid 19 has meant for all of us for so many months. NET’s own learning and experience will in turn help LET and others with their own approaches.

As ever, none of this would be possible without the commitment of the team providing support to LET in both its dormant state and the periods when it has had to operate. The Trustees continue to meet quarterly to review progress with our remaining work. My thanks go to my fellow Trustees and in particular to Clare Thomas and Geeta Nargund who stood down from the Board in 2020 and to Bharat Mehta who retired in August 2021. Their contribution was huge and we all miss their wise advice and compassion. In 2020 we welcomed Caroline Forster to the Board as a new Trustee and we will soon seek other new trustees to support LET’s work and continuing role. The Trustees’ thanks and appreciation also go to James Banks and Grace Perry at London Funders who provide administrative support and Company Secretary services to LET, Stewart Goshawk for financial and operational support and Alan Ali who maintains LET’s website and looks after our Communications and media work, as well as to our core funders the Mayor of London, Trust for London and City Bridge Trust.

Gerald Oppenheim, Chair of the LET Trustees, 14th September 2021

2

LONDON EMERGENCIES TRUST

TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Structure, governance and management

• 1.1 The Trustees of the London Emergencies Trust (LET, the ‘Trust’), who also act as Directors of the Company, present their report and accounts for the year ending 31st December 2020. The Trustees have adopted the provisions of the new Statement of Recommended Practice (SORP) (Second Edition - effective 1 January 2019).

• 1.2 LET is a self-governing charitable company. LET is governed by its Memorandum & Articles of Association – being incorporated as a company limited by guarantee with charitable objects on 23rd December 2015.

• 1.3 New Trustees are appointed by a decision of the board, as and when required, based upon the skills and experience needed. Any new Trustee is offered a full induction to the Trust’s business by the Chair, with the opportunity to attend any training required to fill gaps in knowledge.

• 1.4 Trustees hold office for a period of three years, which can be renewed, unless subject to early termination under Article 5.7 of the Trust’s Articles of Association.

• 1.5 The objects of the charity are:

• to relieve sickness or disability, whether physical or mental, of victims of Emergency Incidents and their dependants;

• to relieve financial need among the victims of Emergency Incidents, including their families and dependants; and

• to support such other exclusively charitable purposes as the Trustees shall consider appropriate.

• 1.6 Trustees meet regularly throughout the year, as often as weekly at times of emergency incidents, but reducing to quarterly at other times. A subcommittee of the board meets on an ad hoc basis to make grant decisions on complex grant applications, acting with authority delegated to it by the full board.

2. Public benefit

• 2.1 The Trustees are aware of the guidance on public benefit provided by the Charity Commission and confirm that they have complied with the duty in section 4 of the Charities Act 2011. The board considers that its activities, in the provision of financial support through grants for the prevention or relief of poverty, the advancement of health or the saving of lives, and the relief of those in need because of youth, age, ill health, disability, financial hardship or other disadvantage, as defined within the parameters defined by the Trust’s Memorandum & Articles of Association, are wholly in keeping with these guidelines.

3 Review of activities

• 3.1 London Emergencies Trust (LET) is a registered charity and company limited by guarantee without a share capital, which began operations after the terrorist attack on Westminster Bridge in March 2017.

• 3.2 Many of its Trustees and staff were involved in the work of the London Bombings Relief Charitable Fund (LBRCF) – a charity set up following the 7/7 attacks in 2005, which passed public donations to the bereaved and injured as charitable gifts.

3

LONDON EMERGENCIES TRUST

TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

3 Review of activities (continued)

• 3.3 Members of the then senior management team at the Greater London Authority were the first interim Trustees of the LBRCF under the then Chief Executive Anthony Mayer’s chairmanship before the permanent Trustees came into place that July. The Fund distributed the near £12m donated and then closed, having carried out the task it was set up to deliver.

• 3.4 In 2015 a number of the former LBRCF Trustees set up the LET as part of the preparedness for terrorist-related or other incidents which might require charitable gifts to be made to those affected as next-of-kin or injured and requiring hospital treatment.

• 3.5 London Funders (the membership network for funders and investors in London's civil society) agreed to act as Company Secretary to LET and supported the new charity to ensure it had appropriate governance, systems and processes in place as a dormant organisation (or, if possible, registered though inactive) until needed when it could be activated quickly to respond to an emergency, whether terrorist attacks or natural disaster on a widespread basis.

• 3.6 It was agreed that in order for LET to first become active the Mayor of London would make a statement that there had been such an incident or emergency, and that a charitable appeals fund has been set up, independent of the Mayor, to raise and distribute money to those affected. This happened following the Westminster Bridge attack although LET has continued to operate and respond to later incidents with the Mayor renewing the statement.

• 3.7 The area of benefit for the Trust was to include the geographic area of Greater London but with flexibility so that it is possible to respond to an incident affecting London and Londoners (as well as people from elsewhere), for example at an airport in the south east of England that is not in the administrative area of the 32 London Boroughs and the City of London. In the event of incidents in London and elsewhere in England, LET was to have flexibility of action so that it can respond outside its core area of benefit, for example by collecting funds and distributing them directly to those affected or through other organisations to achieve its objects.

• 3.8 The decision as to whether to become involved following an incident is made by the LET Trustees in conjunction with the British Red Cross (BRC) as the Trust’s principal fundraiser and with its wider humanitarian response experience.

4. Activities in 2020

• 4.1 Since March 2017, LET has worked with the British Red Cross (BRC) and other funders/fundraisers to distribute charitable donations made by the public to the bereaved and hospitalised who were caught up in the terror attacks of 2017 at: Westminster Bridge, London Bridge/Borough Market, Finsbury Park, Parsons Green, and Westminster/Millbank. One further incident in 2019, at Fishmongers’ Hall, was added to the list of incidents supported by the LET (and in early February 2020, the incident at Streatham High Road).

• 4.2 LET has also been the main distributor of public donations to the bereaved and injured of the Grenfell Tower fire in June 2017, working alongside those charities distributing funds to survivors.

• 4.3 By the end of 2018, the great majority of the distribution work on the initial five incidents had been completed. The Fishmongers’ Hall attack took place late in 2019. Although a distribution of funds to those bereaved and injured in that incident on the same basis as earlier events, was agreed before the year end, grants were not actually paid out until 2020.

• 4.4 It was always the Trustees’ intention that LET should work as swiftly as possible to distribute the funds available to it and then to move to a position of dormancy; with the capacity to re-activate the charity should it be required again in the future.

4

LONDON EMERGENCIES TRUST

TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

4. Activities in 2020 (continued)

• 4.5 The hope had been that all available funds might have been distributed by the end of 2019. However, there were four instances, all for Grenfell Tower recipients, where it was agreed that LET should support the establishment of personal legal trust funds into which LET (and potentially other funds) could be paid, where each recipient was either a minor or would need help to manage the grants being awarded. By the end of the year, despite best efforts, the legal trusts were still in development and so LET continued to hold the BRC funds for these recipients – together with other sums given to LET to hold on behalf of one individual. The LET Trustees are grateful to Wrigleys LLP for their pro bono input on this work which was completed in the first half of 2020.

• 4.6 During the year, LET employed no staff but relied on the volunteer input of several key individuals, to whom the Trustees are very grateful for their continued assistance; together with the retained services of London Funders for administration support and Alan Ali for his public relations expertise.

• 4.7 LET confirms that throughout its existence, 100% of the funds donated by the public for each incident have been distributed to the bereaved next of kin and injured victims. None of these funds are used to cover LET’s operating costs. The Trustees are grateful to the trusts and foundations that have given support in the past, as well as to the Mayor of London and the Greater London Authority for their support. Even in its current dormant state, a modest level of operational costs are incurred annually to keep the Trust in good order. The Trustees are mindful to ensure that sufficient funds are held to maintain the Trust as a going concern.

• 4.8 The Trust has always been keen to ensure that its experience and expertise is available to others facing similar situations. In past years for example, we liaised with colleagues at the We Love Manchester Emergency Fund, established following the Manchester Arena attack, to who we gave initial advice and support in the days following that event in May 2017 and in 2019 were in contact with those co-ordinating the charitable response to the dreadful terror attack in Christchurch, New Zealand. In June 2020, we offered support to the local agencies in Reading following the attack there. We also continue to support the work of the National Emergencies Trust, as explained in this report.

5.

LET review

• 5.1 Back in 2018, Trustees commissioned Professor Diana Leat to undertake a review of LET’s work (as she had done previously for LBRCF) and to make recommendations for any future activities in respect of UK disaster funds. LET Trustees and staff are grateful to everyone who gave time to contribute their thoughts to the review, published in November 2018, a copy of which can be downloaded here: https://londonemergenciestrust.org.uk/publications-0

5

LONDON EMERGENCIES TRUST

TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

6. The National Emergencies Trust

• 6.1 The work of LET and the We Love Manchester Emergency Fund brought awareness to a wide audience about the importance of securing a sound and permanent knowledge base for the distribution of any future emergency funds, together with the need for effective co-ordination of separate distributions that may be differentiated by either time or place.

• 6.2 A wide-ranging review initiated by the Charity Commission for England and Wales involving many charities involved in the 2017 incidents (including LET, WLMEF and BRC) has concluded that there was a need to establish a new, independent charitable body, the “National Emergencies Trust” (NET). This would act as the lead body for the initiation of a disaster fund, following an incident, liaising with the BRC on fundraising and other charities involved in humanitarian and emergency response; commissioning one or more local distributors, wherever the event took place; and providing a central point of contact. It would also provide a mechanism for ensuring the involvement of the voluntary, community and faith sectors in the planning of disaster response.

• 6.3 NET was established as a charity registered in England and Wales in April 2019 and was launched in November 2019, chaired by General Lord Dannatt. The Chair of LET and one other LET Trustee (Thelma Stober) and the Chief Executive of BRC continue as Trustees. The former Director of WLMEF was also amongst the original Trustees. NET launched its first national to raise funds for the response to 2020 coronavirus pandemic across the UK and is distributing funds through UK Community Foundation network and through partnerships with major charities with a UK-wide reach to reach local communities and individuals in need.

• 6.4 The LET Trustees and staff contributed to the establishment of NET, sharing their knowledge and expertise. However, they have decided that LET should not “morph into” NET but rather remain in place as a separate body, in a dormant state once all its current work is complete but ready to act in future as a London distribution agent working with individuals (alongside the London Community Foundation and London Funders), if so commissioned as well as to respond itself to future incidents. The relationship will be enshrined in a Memorandum of Understanding between LET and NET

7. Approach to fund distribution

• 7.1 LET’s overall approach to distribution is informed by the work of the LBRCF, but it retains flexibility to allow it to respond to changing circumstances. Trustees exercise their discretion to vary approaches in the interests of fairness, and each individual funding application is considered in its own right, through a casework approach.

• 7.2 LET is given funds by organisations which have either raised money through public appeals or wish to contribute to disaster relief by way of a charitable donation or gift. The Trust works with donors to agree who should benefit from funds, but mainly focuses on bereavement and injury leading to hospitalisation – since this is where our specialism lies. It works closely with the police and key workers who are the main contact point with families and assist us in building up reliable family trees to make sure distribution is evidence-based and made to the appropriate people. LET strives to ensure that there is some ‘balance’ in its grant funding between those bereaved and hospitalised.

6

LONDON EMERGENCIES TRUST

TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

7. Approach to fund distribution (continued)

• 7.3 In cases of bereavement, the LET Trustees decided that they wished to be guided in the first instance by English Law intestacy rules (The Intestacy Act 1925) to identify who should receive funds. This is generally a surviving spouse, children, sibling(s) or parents. Trustees will exercise their discretion to depart from these otherwise strict rules if there are special circumstances and where an alternative approach is likely to produce a more equitable distribution of grant funding. In some cases, families themselves request that LET pays out funds in another way, and usually LET has been happy to do that if confident of wide family agreement.

• 7.4 In cases of family dispute, LET staff work closely with the police, keyworkers, charities supporting the families, and law firms engaged to represent individuals and/or family units. Despite being as flexible and careful as possible, it is inevitable that in a small number of cases there may be relatives who feel they should have received more, or are concerned that another relative (and not them) received an award. LET has always been open in explaining its rationale for how funds are distributed.

• 7.5 Any relief fund distributing charitable gifts can never be sure, at the outset, exactly how much money it will have available. LET Trustees have exercised great care not to over-commit the funds they have available at any given time and have acted prudently in accordance with the demands of charity law. As a consequence, it has never been possible for the LET to know or to communicate to beneficiaries on details about the final amount of money they should expect to receive. In some cases, it can take time to establish the number of people injured as well as the fatalities. In some cases, it can take many months before some potential beneficiaries feel in a position to come forward. It is important to put the needs of individuals at the heart of LET’s approach to distribution.

• 7.6 To accommodate the uncertainty in the total available funding, LET, like the LBRCF before it, may make what is an ‘initial’ payment, released as soon as practical after each incident; followed by a number of additional payments, each contingent on the availability of funds donated through BRC or elsewhere. By the end of 2020, all funds passed to LET had been distributed with the exception of some small amount due to be returned to the British Red Cross.

8. Level of awards

• 8.1 Full details of the levels of awards made by LET to the bereaved and survivors of the various incidents can be found on our web site www.londonemergenciestrust.org.uk

• 8.2 However, information about individual grants is strictly confidential.

• 8.3 The amounts the LET paid in respect of bereavement or injury at Grenfell Tower were set out in regular updates published by the Charity Commission.

9. Trustees

• 9.1 The Trustee who served during the year were as follows: Gerald Oppenheim OBE (Chair) Robin Allen QC Bharat Mehta CBE (resigned 8 June 2021) Carole Souter CBE Thelma Stober Caroline Forster Clare Thomas MBE (resigned 3 January 2020) Geeta Nargund (resigned 20 January 2020)

7

LONDON EMERGENCIES TRUST

TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

9. Trustees (continued)

There were also several observers to the board: Paul Amadi – British Red Cross James Maloney – Farrer and Co. LLP Emma Strain – Greater London Authority James Banks – London Funders

10. Staff / volunteer list

During 2020, LET had no permanent staff presence, but is grateful to the following for their continued input: Stewart Goshawk

Alan Ali

James Banks and Grace Perry at London Funders

11. Acknowledgements

Since LET began operating in 2017, the organisation has relied heavily on the kindness, goodwill and generosity of a number of organisations and individuals. We remain very grateful to everyone for their past and continued support. Contributing funders and donors were thanked individually at the appropriate time. A full list of acknowledgements was published in the 2019 annual report.

12 Financial review

• 12.1 With a much reduced level of activity in 2020, the London Emergencies Trust received only a very modest level of income during the year. The total received during the year was £59,500 (2019: £344,658) of which £57,000 was for grants distribution received from the British Red Cross UK Solidarity Fund and £2,500 pro bono donations. These grants funds are granted by BRC to LET under a memorandum of understanding, which states that LET will be the principal distributor of funds collected by BRC for these purposes. Funds were also previously received from a number of charitable trusts and foundations, together with small donations from individuals.

• 12.2 Total expenditure for the year was £60,752 (2019: £346,114) comprising £29,100 on grants; £29,152 on operational costs; and pro bono costs of £2,500.

• 12.3 Notes 6 and 13 shows negative income for the distribution to those affected by the Fishmongers’ Hall attack. When several claims were finally settled by the trustees, the sums awarded were lower than previously expected and accounted for.

• 12.4 LET has employed no staff directly. The staff team, employed by London Funders and seconded to LET, was disbanded by September 2018. Activities during 2020 were undertaken either by London Funders own staff or by volunteers.

13 Risk management – principal risks and uncertainties

• 13.1 Prior to LET operations commencing in March 2017, Trustees agreed a ‘start up’ risk register that identified principal risks and steps to mitigate those risks. Since then, the register has evolved in line with the rapid growth in activities across several emergencies. Risks and their mitigation are regularly discussed regularly at board meetings, and Trustees are satisfied that all the major risks to the work and reputation of the organisation have been identified and appropriate measures put in place to ameliorate these risks.

• 13.2 The main risks identified relate to: governance; operations; financial management; external events; compliance with law and regulations.

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LONDON EMERGENCIES TRUST

TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

14. Reserves policy

• 14.1 LET, like its predecessor the London Bombings Relief Charitable Fund (LBRCF) in 2005, was set up with the express intention that it be a time limited response to the terror incidents on the streets of London (and subsequently also the Grenfell Tower fire). LBRCF wound up its grant-making activities approximately 18 months after beginning its work, having distributed £12m of donations to those bereaved and injured by the 7/7 bombings.

• 14.2 LET’s core work will have taken a similar time to execute and has had to be extended to respond to the incidents in 2019 and 2020, and as a result Trustees have not prioritised the build-up of reserves beyond those sums necessary to fulfil on-going commercial, legal and compliance obligations. In addition, it is Trustees’ intention to ensure that the charity – when in a ‘dormant’ state, has sufficient funds in its bank account to allow it to resume work quickly, should it be called to do so. If, at some future point, Trustees decide that LET is to continue to be permanently active, a reserves policy will be put in place commensurate with LET’s longer term existence and activities.

15 Future plans

• 15.1 The Trustees are pleased to report that the legal trusts for the four Grenfell Tower beneficiaries were completed in March 2020 and the payments made accordingly. All payments for the Fishmongers’ Hall attack were made by May 2020. LET also agreed to make a distribution for the victims of the Streatham High Road terror attack in February 2020. Provided there have been no other incidents, it is the intention of LET to continue to become dormant again, in the knowledge that it has all the systems, processes and funding in place to be re-activated in the event of a future serious incident. As we do this, we will be ready to deal with other incidents should that be necessary. Where appropriate, former staff advisors and Trustees will continue to contribute to the National Emergencies Trust, the various Humanitarian Assistance Groups which LET is involved in, and work closely with BRC and Mayor’s Office in identifying systemic improvements in disaster relief responses. Former LET staff are working to brief and train staff in Community Foundations and others across England on the issues involved in making grants to individuals affected by serious incidents.

• 15.2 More generally, Trustees are keen to ensure that a time sustained heightened security concerns, the skills, experience and relationship capital LET has developed since its inception (and before as LBRCF) are protected and available promptly should the need arise in future.

• 15.3 Trustees are mindful of the covid-19 coronavirus pandemic, which has affected London’s communities so severely during 2020. However, after careful consideration, rather than act independently, the Trustees have supported and advised both the national appeal undertaken by the National Emergencies Trust and the London Community Response Fund, overseen by London Funders – both of which have made a significant and positive difference to the lives of Londoners. Therefore the pandemic is not expected to have any significant impact on the charity itself.

9

LONDON CI MERGENCIIIS TRUSI, TRUSTEES REPORT IOR TIIE YEARENDED 31 DL4ClIMBER 2020 16 St#ttm¢nt of Trtssttts, responsibilitles The Trustees al'e responsible for prcparing ihe Trustees Report and tlie fjnancial statenienls. The Trustees have chosen to pi'epare accoun15 foT the ih4rity in accordance with United Kin8dom Gcncrally Aecepted Accounting Practice (UK GAAP). Coiiipany law requircs tht Ti'ustets to pi'epair such financial statements ea¢h financial year which Bive a true and fail. state of affairs of tlie charity and of the i'esult foi. that period and ¢omply wilh UK GAAP and the Conipanies Act 2006. In prcparing thcse fJnan¢ial SY41ements, the Tiustees are requiird Lo: SeleLt suilable accounting PDlici¢s &nd apply thctn ¢onsist¢nlly Ob5erv¢ the methods and principles of the Charities SORP Make judgements aTid esiimaie4 thai are i'easonable and pi'udent Slate wheiher applicable accouiiting St&ndai'ds have been follvwL(I Prepai'e the financial slalemellls on the going concern basis unless li is inappix>pi'iate to presume that the company will continue in busEness. The Trustees are respoTrsiblt for keq)ing pix)pei' accouiitin8 1'ecord& which disclose with I'easottsable accuracy at aay lime the finan¢ial position of the char&ty, for safeguarding the a55et5, for taking reasonable steps foy ihe pi'eveniion and detection of fi?ud and other irregularitie5 and for the preparaiion of a Trusteos Repoi'l which comply with the requiretncnts of the Compani&s A¢L 2006, Si8ned on bchalf of the Board of Truste&s I directors of the London Emergencies Trust Gei"ald Oppenheim DiY¢¢toi' and Chairof the Board 14th S¢ptembe¥ 2021 io

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF THE LONDON EMERGENCIES TRUST

I report to the Trustees on my examination of the accounts of the London Emergency Trust for the year ended 31 December 2020 which are set out on pages 12-19.

Respective responsibilities of Trustees and Examiner

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). The Trustees are satisfied that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and have chosen instead to have an independent examination.

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jane Askew ACA, Haysmacintyre LLP, 10 Queen Street Place London EC4R 1AG

Date: 20 September 2021

11

LONDON EMERGENCIES TRUST

STATEMENT OF FINANCIAL ACTIVITES

FOR THE YEAR ENDED 31 DECEMBER 2020

			2020		2019
			£		£
	Notes
INCOME & ENDOWMENTS FROM:
		Unrestricted	Restricted	Total	Total
Donations and legacies	4
Operational income		-	-	-	18,750
For distribution in grants		-	57,000	57,000	305,908
Donations in kind	5	-	2,500	2,500	20,000
Total Income		-	59,500	59,500	344,658
EXPENDITURE
Charitable Activities	6	(22,058)	(38,694)	(60,752)	(346,114)
Total Expenditure		(22,058)	(38,694)	(60,752)	(346,114)
Net Movement in Funds		(22,058)	20,806	(1,252)	(1,456)
Fund balances brought forward		42,850	33,259	76,109	77,565
Fund balances carried forward		20,792	54,065	74,857	76,109

The accompanying notes on pages 15-19 form part of these financial statements

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LONDON EMERCII Nclbs I'IIUSI. BALANCE SIIEET Rcgislcred company 09928465 FOR THE YEAR ENDLI l)31 DECIIMBER 2020 2020 2019 ASSEI TS Note Curient Ass¢t$ Dcblors- accj'ued incorne Cash on dep05Et 78,757 78,757 1,260,805 1,260.805 CURRENT LIABILITIES Creditors (Amounts fg11ing due withi one yeai.) 13,900) 11.184.696) NfiT CURRENT ASSETS REI SERVES Unre.4trictcd fund$ Restricted funds 20,792 54,065 42,850 33,259 TOTAL FUNDS 74,857 76.109 For the financial year ended 3 1 Decembcr 2019, lh¢ ¢omparty wgs entitled to exemption fiDm audit under the CoMipanie3 Aci 2006, (s. 4771 and the membeis have not required the company to obtain an audit of ils accounts for th¢ year in question in accordttn¢e with s. 476. The directors ackllowldge their resp0fL￿ihl1￿II¢S for ¢omplying with thc irquircmcnts of the CoFiipaJvies Acl 2006 with iESPCCt to accounting recoiQ5 and thc pirparation of accounts. Sigtted on behalf of the Board of Ti'ustres of the London Emer8enci¢s Trust and authorised for issue by-. Gerald Oppenheim Directoi. and Chair of th¢ Board 14 Sepiember 2021 The 8eeompanying notes on pages 16-20 foiTh part of these finallcial siatemtllts 13

LONDON EMERGENCIES TRUST

CASH FLOW STATEMENT 2020

FOR THE YEAR ENDED 31 DECEMBER 2020

	2020	2019
	£	£
Cash flows from operating activities	(1,182,048)	343,502
Cash flows from investing activities
Dividends and interest	-	-
	------------------	-------------------
Net cash provided by/(used in) investing activities	-	-
	------------------	-------------------
Change in cash and cash equivalents in the reporting period	(1,182,048)	343,502
Cash and cash equivalents at the beginning of the reporting period	-	-
	------------------	-------------------
Cash and cash equivalents at the end of the reporting period	(1,182,048)	343,502
	===============	===============
NOTES TO THE CASH FLOW STATEMENT
	2020	2019
	£	£
Reconciliation of Net Income to Net Cash Flow from Operating Activities
Net income for the reporting period	(1,252)	(1,456)
(Increase) in debtors	-	56,250
(Decrease) in creditors	(1,180,796)	288,708
	-------------------	-------------------
Net cash provided by operating activities	(1,182,048)	343,502
	===============	===============
Analysis of Cash and Cash Equivalents
	2020	2019
	£	£
Cash at bank and in hand	78,757	1,260,805
	------------------	-------------------
	78,757	1,260,805
	===============	===============

14

LONDON EMERGENCIES TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1. Accounting policies

i. Basis of preparation

• The financial statements have been prepared 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) (Second Edition – effective 1 January 2019) - (Charities SORP (FRS 102)), and the Companies Act 2006.

ii. Preparation of accounts on a going concern basis

• The Trustees consider that the company will have adequate reserves to continue in operational existence for the foreseeable future. They believe the going concern basis of accounting is appropriate for these annual financial statements.

iii. Critical accounting judgements and estimates

In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the charities accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

iv. Basic Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.

v. Income recognition

All income is recognised once the charity has entitlement to income, it is probable that income will be received and the amount of income receivable can be measured reliably.

vi. Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

vii. Cash at bank and in hand

Cash at bank and cash 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.

viii. Funds

Unrestricted funds are donations and other income receivable or generated for the objects of the charity. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. Restricted funds are those funds which are to be used in accordance with specific instructions imposed by the donor or trust deed.

2. Taxation

The London Emergencies Trust is a registered charity and is thus exempt from taxation of its income and gains falling within Section 505 of the Income and Corporation Taxes Act 1988 or Section 256 of the Taxable Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives. No tax charge has arisen in the year.

3. Company limited by Guarantee

LET is a company limited by guarantee, each of the six members being liable for a maximum sum of £1 in the event of the company winding up.

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LONDON EMERGENCIES TRUST

NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 DECEMBER 2020

4. Income

LET receives income for both its operational costs and for distribution in grants to those bereaved and hospitalised as a result of both the several terrorist attacks on London since 2017 and from the Grenfell Tower fire. Income received during 2020 is as below:

For grant distribution Westminster Fishmongers’ Hall Streatham High Road Grenfell Tower Sub Total Operational costs Donations in kind Total	Unrestricted £ - - - - - - - -	Restricted £ - - 57,000 - 57,000 - 2,500 59,500	Total 2020 £ - - 57,000 - 57,000 - 2,500 59,500	Total 2019 £ 2,908 243,000 - 60,000
				305,908 18,750 20,000
				344,658

Income received for grant distribution – all income is restricted

	2020	2020	2019
		£	£
Westminster Bridge
Other donations		-	2,098
Fishmongers’ Hall
British Red Cross / UK Solidarity Fund		-	243,000
Streatham High Road
British Red Cross / UK Solidarity Fund	57,000		-
Grenfell Tower Fire
British Red Cross / UK Solidarity Fund		-	60,000
total	57,000		305,098
Income received for operational costs – all income is unrestricted
	2020		2019
		£	£
Greater London Authority		-	18,750
Total		-	18,750

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LONDON EMERGENCIES TRUST

NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 DECEMBER 2020

5. Donations in kind

During the year, LET received pro-bono support from a number of sources towards the operational costs of the charity. These have been valued as follows:

Staffing – Wembley National Stadium Trust Legal - Farrer & Co Legal – Wrigleys Office space – City Bridge Trust London Funders Total	2020 £ 1,250 - - 250 1,000 2,500	2019 £ 2,000 4,750 12,000 250 1,000
		20,000

6. Expenditure – charitable activities

During the year, LET expended resources on the operational day-to-day running of the charity and on distributing grants to the bereaved and hospitalised from both the several terror attacks in London since 2017 and from the Grenfell Tower fire. During 2020, income was expended as follows:

Grants Expenditure Westminster Fishmongers’ Hall Streatham High Road Grenfell Tower Sub-Total Operational Expenditure Donations in kind Total	2020 £ - (21,000) 50,000 100 29,100 29,152 2,500 60,752	2019 £ 2,908 243,000 - 60,000
		305,908
		20,206 20,000
		346,114

17

LONDON EMERGENCIES TRUST

NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 DECEMBER 2020

Operational Expenditure

Travel Staff costs Press & PR IT Phone Insurance Bank charges Audit Independent examination Legal Total operational expenditure	Unrestricted £ - 3,977 2,900 5,082 158 798 143 - 3,000 6,000 22,058	Restricted £ - 7,094 - - - - - - - - 7,094	Total 2020 £ - 11,071 2,900 5,082 158 798 143 - 3,000 6,000 29,152	Total 2019 £ 889 8,324 3,150 - 159 1,571 113 2,400 3,000 600
				20,206

7. Debtors

There were no debtors to report as at 31[st] December 2020 (2019: nil)

8. Creditors

9. Net assets between funds Unrestricted funds Restricted funds Total Amounts due within one year: Independent Examination fee Grants to individuals Administration costs to London Funders	2020 £ 20,792 54,065 74,857 2020 £ 3,000 - 900 3,900		2019 £ 42,850 32,659 2019 £ 3,000 1,181,696 - 1,184,696
			78,509

9. Net assets between funds

10. Staff costs

No staff were employed either directly or indirectly on LET business during 2020. Administrative and casework support was provided by London Funders, which was re-imbursed by LET for its staff time. In 2020, this totalled £11,071 (2019: £8,324). These costs were all covered by income raised, principally, from trusts and foundations specifically for operational costs. No funds donated by the public were used to cover any of this expenditure. In 2020, other staff input was received pro bono from the Wembley National Stadium Trust, at a value of £1,250.

11. Related party transactions

Geeta Nargund was a Trustee of the British Red Cross, which in 2020 provided grant income for distribution of £57,000 (2019: £303,000); Bharat Mehta is Chief Executive of Trust for London which has previously provided core funding for LET operating costs (2019: nil).

12. Trustees remuneration and expenses

No Trustee received any remuneration or claimed any expenses for their services on the board of LET (2019: nil).

18

LONDON EMERGENCIES TRUST

NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 DECEMBER 2020

13. Analysis of funds 2020 General funds Restricted funds 1. Westminster 2. London Bridge / Borough Market 3. Finsbury Park 4. Parsons Green 5. Westminster / Millbank 6. Fishmongers’ Hall 7. Streatham 8. Grenfell Tower 9. Operational costs Total 2019 General funds Restricted funds 1. Westminster 2. London Bridge / Borough Market 3. Finsbury Park 4. Parsons Green 5. Westminster / Millbank 6. Fishmongers’ Hall 8. Grenfell Tower 9. Operational costs Total	Opening £ 42,850 20,617 10 10 3,500 - - - 2,028 7,094 76,109 Opening £ 27,600 20,617 10 10 3,500 - - 2,028 23,800 77,565	Income £ - - - - - - - 59,500 - - 59,500 Income £ 18,750 2,908 - - - - 243,000 60,000 - 324,658	Expenditure £ 22,058 - - - - - (21,000) 52,500 100 7,094 60,752 Expenditure £ 3,500 2,908 - - - 243,000 60,000 16,706 326,114	Balance £ 20,792 20,617 10 10 3,500 - 21,000 7,000 1,928 -
				**74,857 **
				Balance £ 42,850 20,617 10 10 3,500 - - 2,028 7,094
				76,109

Purpose of funds

1. For grants to the victims of the Westminster Bridge attack

2. For grants to the victims of the London Bridge / Borough market attack

3. For grants to the victims of the Finsbury Park attack

4. For grants to the victims of the Parsons Green attack

5. For grants to the victims of the Westminster / Millbank attack

6. For grants to the victims of the Fishmongers’ Hall attack

7. For grants to the victims of the Streatham High Road attack

8. For grants to the victims of the Grenfell Tower fire

9. For operational costs

13. Post balance sheet event – Covid-19

The Trustees are monitoring the effects of the continuing effect of the coronavirus (COVID-19) pandemic upon the operations of the Charity. This is a non-adjusting post balance sheet event and the impact cannot be quantified. The Trustees believe it is unlikely to see a significant effect in the year to 31 December 2021.

19