**Registered number: 10610690 Charity number: 1174644**
**TRIPLE ONE TRUST LIMITED (A company limited by guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **TRIPLE ONE TRUST LIMITED**
## **(A company limited by guarantee)**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative details of the Company, its Trustees and advisers**|1|
|**Trustees' report**|2 - 3|
|**Independent examiner's report**|4|
|**Statement of financial activities**|5|
|**Balance sheet**|6 - 7|
|**Notes to the financial statements**|8 - 15|
**(A company limited by guarantee)**
## **TRIPLE ONE TRUST LIMITED**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 28 FEBRUARY 2022**
|**Trustees**|J Gluck, Director/Trustee (Chair)|
|---|---|
||SB Finkelstein, Director/Trustee|
||AT Tauber, Director/Trustee|
|**Company registered**
**number**
10610690
**Charity registered**
**number**
1174644
**Registered office**
11c Grosvenor Way
London
E5 9ND
**Accountants**
Wolffe Accountancy Services Ltd
34 Braydon Road
London
N16 6QB
**Bankers**
Lloyds Bank
London
EC2R 8AU||
Page 1
## **TRIPLE ONE TRUST LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 28 FEBRUARY 2022**
The Trustees present their annual report together with the financial statements of the Triple One Trust Limited for the 1 March 2021 to 28 February 2022. 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 charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **Policies and objectives**
The charity was set up under a Memorandum and Articles of Association to advance the education of the public, religion, carers, to relieve poverty, to help refugees and the elderly, to promote social inclusion, to relieve sickness, to help young people and to preserve cemeteries. This is done by the provision of grants. These grants assisted those charities.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Achievements and performance**
## **Review of activities**
Grants of £50,000 (2021 - 33,000) were paid to charities thought suitable.
## **Financial review**
## **Reserves**
The reserves of £931,252 (2021 - £918,020) represent the fixed assets and funds not yet distributed.
Page 2
## **TRIPLE ONE TRUST LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **Structure, governance and management**
## **Constitution**
Triple One Trust Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
## **Methods of appointment or election of Trustees**
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the 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 state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate 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 statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 20 November 2022 and signed on their behalf by:
**J Gluck** Director/Trustee
Page 3
**(A company limited by guarantee)**
## **TRIPLE ONE TRUST LIMITED**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **Independent examiner's report to the Trustees of Triple One 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 2022.
## **Responsibilities and basis of report**
As the Trustees of the Company (and 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 the Company's accounts 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:
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 [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.
Signed:
Dated: 20 November 2022
Daniel Wolffe
FCCA
34 Braydon Road London N16 6QB
Page 4
## **TRIPLE ONE TRUST LIMITED**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2022**
|**Note**
**Income from:**
Charitable activities
3
**Total income**
**Expenditure on:**
Property expenses
4
Charitable expenses
Administrative expenses
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2022**
**£**
**86,451**
**86,451**
**22,619**
**50,000**
**600**
**73,219**
**13,232**
**918,019**
**13,232**
**931,251**|**Total**
**funds**
**2022**
**£**
**86,451**
**86,451**
**22,619**
**50,000**
**600**
**73,219**
**13,232**
**918,019**
**13,232**
**931,251**|_Total_
_funds_
_2021_
_£_
_74,999_|
|---|---|---|---|
||||_74,999_|
||||_26,987_
_33,000_
_773_|
||||_60,760_|
||||_14,239_|
||||_903,780_
_14,239_|
||||_918,019_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 15 form part of these financial statements.
Page 5
## **TRIPLE ONE TRUST LIMITED (A company limited by guarantee) REGISTERED NUMBER: 10610690**
## **BALANCE SHEET AS AT 28 FEBRUARY 2022**
|**Note**
**Fixed assets**
Tangible assets
7
**Current assets**
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
Unrestricted funds
**Total funds**|**5,116**
**69,336**
**74,452**
**(700)**|**2022**
**£**
**857,500**
**857,500**
**73,752**
**931,252**
**931,252**
**931,252**
**-**
**931,252**
**931,252**|_4,978_
_56,200_
_61,178_
_(700)_|_2021_
_£_
_857,542_|
|---|---|---|---|---|
|||||_857,542_
_60,478_|
|||||_918,020_|
|||||_918,020_|
||||||
|||||_918,020_|
|||||_-_
_918,020_|
||||||
|||||_918,020_|
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 20 November 2022 and signed on their behalf by:
Page 6
# **TRIPLE ONE TRUST LIMITED (A company limited by guarantee) REGISTERED NUMBER: 10610690**
# **BALANCE SHEET (CONTINUED) AS AT 28 FEBRUARY 2022**
## **J Gluck**
Director/Trustee
The notes on pages 8 to 15 form part of these financial statements.
Page 7
**(A company limited by guarantee)**
## **TRIPLE ONE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **1. General information**
The charity was set up to advance the education of the public, religion, carers, to relieve poverty, to help refugees and the elderly, to promote social inclusion, to relieve sickness, to help young people and to preserve cemeteries.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Triple One Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Income**
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **2.3 Expenditure**
Expenditure is recognised 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 the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a 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 with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
## **2.4 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Page 8
**TRIPLE ONE TRUST LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **2. Accounting policies (continued)**
## **2.4 Tangible fixed assets and depreciation (continued)**
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Fixtures and fittings - 25%
## **2.5 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.6 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.
## **2.7 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance 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 at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **2.8 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Page 9
## **TRIPLE ONE TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **3. Income from charitable activities**
|**Unrestricted**
**funds**
**2022**
**£**
Rents receivable
86,451
Dilapidations receivable
-
86,451
_Unrestricted_
_funds_
_2021_
_£_
Rents receivable
_74,649_
Dilapidations receivable
_350_
_74,999_|**Total**
**funds**
**2022**
**£**
**86,451**
**-**|
|---|---|
||**86,451**|
||_Total_
_funds_
_2021_
_£_
_74,649_
_350_|
||_74,999_|
Page 10
**TRIPLE ONE TRUST LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **4. Property expenses**
|**Unrestricted**
**funds**
**2022**
**£**
Insurance payable
1,125
Repairs
7,432
Professional fees
1,640
Agents fees
10,239
Cleaning
1,200
Depreciation
42
Bank charges
233
Light & heat
75
Rates
293
Sundry expenses
340
22,619
_Unrestricted_
_funds_
_2021_
_£_
Insurance payable
_1,053_
Repairs
_11,495_
Professional fees
_2,416_
Agents fees
_9,143_
Cleaning
_1,260_
Depreciation
_42_
Bank charges
_151_
Light & heat
_1,041_
Rates
_254_
Sundry expenses
_132_
_26,987_|**Total**
**funds**
**2022**
**£**
**1,125**
**7,432**
**1,640**
**10,239**
**1,200**
**42**
**233**
**75**
**293**
**340**|
|---|---|
||**22,619**|
||_Total_
_funds_
_2021_
_£_
_1,053_
_11,495_
_2,416_
_9,143_
_1,260_
_42_
_151_
_1,041_
_254_
_132_|
||_26,987_|
Page 11
**(A company limited by guarantee)**
## **TRIPLE ONE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **4. Property expenses (continued)**
## **5. Charitable expenses**
|Tchabe Kollel
Kupath Chasdei Aharon Ltd
Friends of Beis Chinuch Lebonos
Care All Ltd
Mifal Hachesed Vehatzdokoh
Chasdei Sholom Trust
Reb Shayala's Tzedokoh
Merkos Hatorah Belz
One Heart Lev Echod
Friends of Beis Soroh Schneirer
Inspirations
Friends of Beis Chinuch Lebonos
Care All Ltd
Mifal Hachesed Vehatzdokoh
Alymos Ltd
Merkos Hatorah Belz
One Heart Lev Echod|**Grants to**
**Institutions**
**2022**
**£**
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
50,000
_Grants to_
_Institutions_
_2021_
_£_
_5,000_
_5,000_
_5,000_
_3,000_
_5,000_
_5,000_
_5,000_
_33,000_|**Total**
**funds**
**2022**
**£**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**|
|---|---|---|
|||**50,000**|
|||_Total_
_funds_
_2021_
_£_
_5,000_
_5,000_
_5,000_
_3,000_
_5,000_
_5,000_
_5,000_|
|||_33,000_|
Page 12
**(A company limited by guarantee)**
## **TRIPLE ONE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **6. Administrative expenses**
|**Unrestricted**
**funds**
**2022**
**£**
Accountancy fees
400
Independant examination fee
200
600
_Unrestricted_
_funds_
_2021_
_£_
Accountancy fees
_600_
Independant examination fee
_160_
General expenses
_13_
_773_|**Total**
**funds**
**2022**
**£**
**400**
**200**|
|---|---|
||**600**|
||_Total_
_funds_
_2021_
_£_
_600_
_160_
_13_|
||_773_|
## **7. Tangible fixed assets**
|**Cost or valuation**
At 1 March 2021
At 28 February 2022
**Depreciation**
At 1 March 2021
Charge for the year
At 28 February 2022|**Freehold**
**property**
**£**
**857,500**
**857,500**
**-**
**-**
**-**|**Fixtures and**
**fittings**
**£**
**167**
**167**
**125**
**42**
**167**|**Total**
**£**
**857,667**|
|---|---|---|---|
||||**857,667**|
||||**125**
**42**|
||||**167**|
Page 13
## **TRIPLE ONE TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **7. Tangible fixed assets (continued)**
|**Net book value**
At 28 February 2022
_At 28 February 2021_
**8.**
**Debtors**
**Due within one year**
Other debtors|**Freehold**
**property**
**£**
**857,500**
_857,500_|**Fixtures and**
**fittings**
**£**
**-**
_42_
**2022**
**£**
**5,116**
**5,116**|**Total**
**£**
**857,500**|
|---|---|---|---|
||||_857,542_|
||||_2021_
_£_
_4,978_|
|||||
||||_4,978_|
## **9. Creditors: Amounts falling due within one year**
|Other creditors
Accruals and deferred income|**2022**
**£**
**100**
**600**
**700**|_2021_
_£_
_100_
_600_|
|---|---|---|
||||
|||_700_|
|**10.**|**Summary**|**of funds**|
|---|---|---|
||**Summary**|**of funds - current year**|
|||||**Balance at**|
|---|---|---|---|---|
||**Balance at 1**|||**28 February**|
||**March 2021**|**Income**|**Expenditure**|**2022**|
||**£**|**£**|**£**|**£**|
|General funds|**918,020**|**86,451**|**(73,219)**|**931,252**|
Page 14
**(A company limited by guarantee)**
## **TRIPLE ONE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **10. Summary of funds (continued)**
## **Summary of funds - prior year**
||_Balance at_|||_Balance at_|
|---|---|---|---|---|
||_1 February_|||_28 February_|
||_2020_|_Income_|_Expenditure_|_2021_|
||_£_|_£_|_£_|_£_|
|General funds|_903,780_|_74,999_|_(60,760)_|_918,019_|
## **11. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2022**
**£**
Tangible fixed assets
857,500
Current assets
74,452
Creditors due within one year
(700)
**Total**
931,252|**Total**
**funds**
**2022**
**£**
**857,500**
**74,452**
**(700)**|
|---|---|
||**931,252**|
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2021_
_£_
_857,542_
_61,177_
_(700)_
_918,019_|_Total_
_funds_
_2021_
_£_
_857,542_
_61,177_
_(700)_|
|---|---|---|
|||_918,019_|
Page 15