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 2023
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 - 14 |
(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 2023
| Trustees | J Gluck, Director/Trustee (Chair) |
|---|---|
| SB Finkelstein, Director/Trustee | |
| AT Tauber, Director/Trustee | |
| Company registered number 10610690 Charity registered number 1174644 Registered office Side Entrance 123 Clapton Common London E5 9AB 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 2023
The Trustees present their annual report together with the financial statements of the Triple One Trust Limited for the 1 March 2022 to 28 February 2023. 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 £10,000 (2022 - 50,000) were paid to charities thought suitable.
Financial review
Reserves
The reserves of £979,126 (2022 - £931,252) 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 2023
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 23 November 2023 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 2023
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 2023.
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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: 23 November 2023
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 2023
| 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 2023 £ 81,789 81,789 23,315 10,000 600 33,915 47,874 931,251 47,874 979,125 |
Total funds 2023 £ 81,789 81,789 23,315 10,000 600 33,915 47,874 931,251 47,874 979,125 |
Total funds 2022 £ 86,451 |
|---|---|---|---|
| 86,451 | |||
| 22,619 50,000 600 |
|||
| 73,219 | |||
| 13,232 | |||
| 918,019 13,232 |
|||
| 931,251 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 14 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 2023
| 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 |
2,814 119,512 122,326 (700) |
2023 £ 857,500 857,500 121,626 979,126 979,126 979,126 - 979,126 979,126 |
5,116 69,336 74,452 (700) |
2022 £ 857,500 |
|---|---|---|---|---|
| 857,500 73,752 |
||||
| 931,252 | ||||
| 931,252 | ||||
| 931,252 | ||||
| - 931,252 |
||||
| 931,252 |
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 23 November 2023 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 2023
J Gluck
Director/Trustee
The notes on pages 8 to 14 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 2023
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 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 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.
2.5 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.
2.6 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.
2.7 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 8
TRIPLE ONE TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
3. Income from charitable activities
| Unrestricted funds 2023 £ Rents receivable 81,789 Unrestricted funds 2022 £ Rents receivable 86,451 4. Property expenses Unrestricted funds 2023 £ Insurance payable 1,290 Repairs 9,589 Professional fees 1,080 Agents fees 9,304 Cleaning 1,200 Bank charges 240 Light & heat 189 Rates 123 Sundry expenses 300 23,315 |
Total funds 2023 £ 81,789 |
|---|---|
| Total funds 2022 £ 86,451 |
|
| Total funds 2023 £ 1,290 9,589 1,080 9,304 1,200 240 189 123 300 |
|
| 23,315 |
Page 9
(A company limited by guarantee)
TRIPLE ONE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
4. Property expenses (continued)
| Insurance payable Repairs Professional fees Agents fees Cleaning Depreciation Bank charges Light & heat Rates Sundry expenses |
Unrestricted funds 2022 £ 1,125 7,432 1,640 10,239 1,200 42 233 75 293 340 22,619 |
Total funds 2022 £ 1,125 7,432 1,640 10,239 1,200 42 233 75 293 340 |
|---|---|---|
| 22,619 |
5. Charitable expenses
| One Heart Lev Echod Kollel Veyoel Moshe |
Grants to Institutions 2023 £ 5,000 5,000 10,000 |
Total funds 2023 £ 5,000 5,000 |
|---|---|---|
| 10,000 |
Page 10
(A company limited by guarantee)
TRIPLE ONE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
5. Charitable expenses (continued)
| Toras Chesed Inspirations Friends of Beis Chinuch Lebonos Care All Ltd Mifal Hachesed Vehatzdokoh Vaad Lehachzokas Hayehadus Alymos Ltd Merkos Hatorah Belz One Heart Lev Echod Grants, Direct costs - Activity 10 |
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 |
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 |
6. Administrative expenses
| Unrestricted funds 2023 £ Accountancy fees 400 Independant examination fee 200 600 Unrestricted funds 2022 £ Accountancy fees 400 Independant examination fee 200 600 |
Total funds 2023 £ 400 200 |
|---|---|
| 600 | |
| Total funds 2022 £ 400 200 |
|
| 600 |
Page 11
(A company limited by guarantee)
TRIPLE ONE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
6. Administrative expenses (continued)
7. Tangible fixed assets
| Cost or valuation At 1 March 2022 At 28 February 2023 Depreciation At 1 March 2022 At 28 February 2023 Net book value At 28 February 2023 At 28 February 2022 8. Debtors Due within one year Trade debtors Other debtors |
Freehold property £ 857,500 857,500 - - 857,500 857,500 |
Fixtures and fittings £ 167 167 167 167 - - 2023 £ 2,814 - 2,814 |
Total £ 857,667 |
|---|---|---|---|
| 857,667 | |||
| 167 | |||
| 167 | |||
| 857,500 | |||
| 857,500 | |||
| 2022 £ - 5,116 5,116 |
Page 12
TRIPLE ONE TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
9. Creditors: Amounts falling due within one year
| Other creditors Accruals and deferred income |
2023 £ 100 600 700 |
2022 £ 100 600 |
|---|---|---|
| 700 |
10. Summary of funds
Summary of funds - current year
| General funds Summary of funds - prior year General funds |
Balance at 1 March 2022 £ 931,252 Balance at 1 March 2021 £ 918,020 |
Income £ 81,789 Income £ 86,451 |
Expenditure £ (33,915) Expenditure £ (73,219) |
Balance at 28 February 2023 £ 979,126 |
|---|---|---|---|---|
| Balance at 28 February 2022 £ 931,252 |
11. Analysis of net assets between funds Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Tangible fixed assets 857,500 Current assets 122,326 Creditors due within one year (700) Total 979,126 |
Total funds 2023 £ 857,500 122,326 (700) |
|---|---|
| 979,126 |
Page 13
TRIPLE ONE TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
11. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 857,500 74,452 (700) 931,252 |
Total funds 2022 £ 857,500 74,452 (700) 931,252 |
|---|---|---|
Page 14