Charity number: 1190939
ROBY LITTMAN CHARITABLE FOUNDATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2021
ROBY LITTMAN CHARITABLE FOUNDATION
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 10 |
ROBY LITTMAN CHARITABLE FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 MARCH 2021
Trustees J K Littman E L Littman D L B Littman S C Littman Charity registered number 1190939 Principal office Manor Farm Mill Lane Somerton TA11 7BQ Independent Examiner David Pumfrey FCA Simmons Gainsford LLP Chartered Accountants 14th Floor 33 Cavendish Square London W1G 0PW
Page 1
ROBY LITTMAN CHARITABLE FOUNDATION
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 MARCH 2021
The Trustees present their annual report together with the financial statements of the Roby Littman Charitable Foundation for the period 17 August 2020 to 31 March 2021.
Objectives and activities
a. Policies and objectives
Roby Littman Charitable Foundation was established in 2020, to further such exclusive charitable purposes (according to the laws on England and Wales) as the trustees see fit from time to time including but not limited to the advancement of education and the advancement of health or the saving of lives by:
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Making Grants to charities operating in the UK which promote the objectives; and
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By such other means as shall promote the objectives.
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
a. Review of activities
Donations of £40,000 have been received for the period with support costs of £4,802 being incurred.
b. Taxation
The charity has no liability to Corporation Tax or Capital Gains Tax on its charitable activities.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees acknowledge the presence of the Coronavirus pandemic but are of the opinion that it will not have a significant impact on the Charities' ability to operate. For this reason, they continue to adopt the going concern basis in preparing the financial statements. There are no material uncertanties regarding going concern.
b. Principal risks and uncertainties
The principal risk of the charity is the loss of funding. However, as it is expected that all donations will come from the Trustees, this is not considered to be significant.
c. Financial review
The results for the period are set out on page 6. The Trustees believe that the accounts comply with the current requirements of the charity's governing document and the requirement of the SORP.
Page 2
ROBY LITTMAN CHARITABLE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2021
Structure, governance and management
a. Constitution
Roby Littman Charitable Foundation is a registered charity, number 1190939, and is constituted under a Trust deed.
The Trustees who served during the year were:
J K Littman E L Littman D L B Littman S C Littman
b. Methods of appointment or election of Trustees
The management of the Charity 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 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).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity 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 and signed on their behalf by:
J K Littman
Date: 22/12/2022 | 06:40 GMT
Page 3
ROBY LITTMAN CHARITABLE FOUNDATION
INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 MARCH 2021
Independent examiner's report to the Trustees of Roby Littman Charitable Foundation ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the period ended 31 March 2021.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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 applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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: 22/12/2022 | 06:40 GMT
David Pumfrey FCA Simmons Gainsford LLP 14th Floor 33 Cavendish Square London W1G 0PW
Page 4
ROBY LITTMAN CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MARCH 2021
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 50,000 50,000 4,802 4,802 45,198 45,198 45,198 |
Total funds 2021 £ 50,000 |
|---|---|---|
| 50,000 | ||
| 4,802 | ||
| 4,802 | ||
| 45,198 | ||
| 45,198 | ||
| 45,198 |
The Statement of financial activities includes all gains and losses recognised in the period.
The notes on pages 7 to 10 form part of these financial statements.
Page 5
ROBY LITTMAN CHARITABLE FOUNDATION
BALANCE SHEET AS AT 31 MARCH 2021
| Note Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total net assets Charity funds Unrestricted funds 9 Total funds |
10,000 40,000 50,000 (4,802) |
2021 £ 45,198 |
|---|---|---|
| 45,198 | ||
| 45,198 | ||
| 45,198 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
J K Littman
Date: 22/12/2022 | 06:40 GMT
The notes on pages 7 to 10 form part of these financial statements.
Page 6
ROBY LITTMAN CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021
1. General information
Roby Littman Charitable Foundation is a registered charity in England and Wales, registration number 119039. The address of the registered office is Manor Farm, Mill Lane, Charlton Mackrell, Somerton, TA11 7BQ.
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 Charities Act 2011.
Roby Littman Charitable Foundation 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 Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
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 charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 7
ROBY LITTMAN CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021
2. Accounting policies (continued)
2.4 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
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.
Liabilities are recognised at the amount that the Charity 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.
2.7 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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 Charity and which have not been designated for other purposes.
3. Income from donations and legacies
| Unrestricted funds 2021 £ Donations 40,000 Gift Aid Recoverable 10,000 50,000 |
Total funds 2021 £ 40,000 10,000 |
|---|---|
| 50,000 |
Page 8
ROBY LITTMAN CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021
4. Analysis of expenditure by activities
| Support | Total | |
|---|---|---|
| costs | funds | |
| 2021 | 2021 | |
| £ | £ | |
| Advancement of education | 4,802 | 4,802 |
Analysis of support costs
| Accountancy fees Legal fees |
Activities 2021 £ 1,200 3,602 4,802 |
Total funds 2021 £ 1,200 3,602 |
|---|---|---|
| 4,802 |
5.
Independent examiner's remuneration
| 2021 | |
|---|---|
| £ | |
| Fees payable to the Charity's independent examiner for the independent examination of | |
| the Charity's annual accounts | 1,200 |
6. Trustees' remuneration and expenses
During the period, no Trustees received any remuneration or other benefits.
During the period ended 31 March 2021, no Trustee expenses have been incurred.
Page 9
ROBY LITTMAN CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021
7. Debtors
| 2021 | |
|---|---|
| £ | |
| Due within one year | |
| Other debtors | 10,000 |
8. Creditors: Amounts falling due within one year
| Other creditors Accruals and deferred income |
2021 £ 3,602 1,200 |
|---|---|
| 4,802 |
9. Summary of funds
Summary of funds - current period
| Balance at | |||
|---|---|---|---|
| 31 March | |||
| Income | Expenditure | 2021 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General Funds - all funds | 50,000 | (4,802) | 45,198 |
10. Analysis of net assets between funds Analysis of net assets between funds - current period
| Unrestricted funds 2021 £ Current assets 50,000 Creditors due within one year (4,802) Total 45,198 |
Total funds 2021 £ 50,000 (4,802) |
|---|---|
| 45,198 |
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