REGISTERED COMPANY NUMBER: 10595988 (England and Wales) REGISTERED CHARITY NUMBER: 1173254
Report of the Trustees and
Unaudited Financial Statements FOR THE YEAR ENDED 28 February 2023
for
CLEARWATERS TRUST LIMITED
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
CLEARWATERS TRUST LIMITED
Contents of the Financial Statements FOR THE YEAR ENDED 28 FEBRUARY 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 7 |
CLEARWATERS TRUST LIMITED (REGISTERED NUMBER: 10595988)
Report of the Trustees FOR THE YEAR ENDED 28 FEBRUARY 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective of the charity is the advancement of the Orthodox Jewish Faith by financially supporting synagogues, places of religious study and institutes of Jewish Education, and in other ways as the trustees may see fit.
Significant activities
The main way the charity pursues its objective is through grant-making. During the year, a total of £193,000 (2022: £158,000) was donated to other charitable organisations.
Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grantmaking policy.
Volunteers
There were no volunteers during the year.
ACHIEVEMENT AND PERFORMANCE
Internal and external factors
There were no specific factors to report.
FINANCIAL REVIEW
Financial position
The charity had incoming resources of £195,000 (2022: £160,000) and charitable expenditure of £194,580 (2022: £159,037). At the year end the charity had a total unrestricted surplus of £409 (2022: £11 deficit).
Principal funding sources
The principal funding sources are donations from limited companies.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
In the event of the company being wound up, members are required to contribute an amount not exceeding £10.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
10595988 (England and Wales)
Registered Charity number
1173254
Registered office
First Floor, Winston House 349 Regents Park Road London N3 1DH
Trustees
Mr J Feiner Mr B M Roitenbarg Mr E Teitelbaum
Page 1
CLEARWATERS TRUST LIMITED (REGISTERED NUMBER: 10595988)
Report of the Trustees FOR THE YEAR ENDED 28 FEBRUARY 2023
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 23 November 2023 and signed on its behalf by:
Mr B M Roitenbarg - Trustee
Page 2
Independent Examiner's Report to the Trustees of
Clearwaters Trust Limited (Registered number: 10595988)
Independent examiner's report to the trustees of Clearwaters Trust Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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 (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Aryeh Melinek, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
23 November 2023
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CLEARWATERS TRUST LIMITED
Statement of Financial Activities (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 28 FEBRUARY 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 195,000 EXPENDITURE ON Charitable activities Charitable activities 194,580 NET INCOME 420 RECONCILIATION OF FUNDS Total funds brought forward (11) TOTAL FUNDS CARRIED FORWARD 409 |
2022 Total funds £ 160,000 159,037 963 (974) (11) |
|---|---|
The notes form part of these financial statements
Page 4
CLEARWATERS TRUST LIMITED (REGISTERED NUMBER: 10595988)
Balance Sheet
28 FEBRUARY 2023
| 2023 | 2023 | 2022 | ||
|---|---|---|---|---|
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | £ | £ | ||
| CURRENT ASSETS | ||||
| Debtors | 4 | 213 | 349 | |
| Cash at bank | 196 | 98 | ||
| 409 | 447 | |||
| CREDITORS | ||||
| Amounts falling due within one year | 5 | - | (458) | |
| NET CURRENT ASSETS/(LIABILITIES) | 409 | (11) | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 409 | (11) | ||
| NET ASSETS/(LIABILITIES) | 409 | (11) | ||
| FUNDS | ||||
| Unrestricted funds | 409 | (11) | ||
| TOTAL FUNDS | 409 | (11) |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 November 2023 and were signed on its behalf by:
Mr B M Roitenbarg - Trustee
The notes form part of these financial statements
Page 5
CLEARWATERS TRUST LIMITED
Notes to the Financial Statements FOR THE YEAR ENDED 28 FEBRUARY 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. GRANTS PAYABLE
| Charitable activities A summary of grants made to institutions during the year is as follows: Name of institution The Rehabilitation Trust Keren Yedidei Beis Viznitz Ltd Meir Hatorah VHLT Ltd Olam Chesed Yiboneh Mercaz Chasidei Wiznitz Trust Rise and Shine TS Trust Total |
2023 2022 £ £ 193,000 158,000 Amount (£) 43,000 35,000 30,000 20,000 20,000 15,000 20,000 10,000 193,000 |
|---|---|
A summary of grants made to institutions during the year is as follows:
continued...
Page 6
CLEARWATERS TRUST LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2023 nor for the year ended 28 February 2022.
4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
||
|---|---|---|
| Prepayments and accrued income 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income |
2023 £ 213 2023 £ - |
2022 £ 349 |
| 2022 £ 458 |
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2023.
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