Charity number: 1192047
THE 13 TAMMUZ 5769 TRUST
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
THE 13 TAMMUZ 5769 TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 11 |
THE 13 TAMMUZ 5769 TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2023
Trustees
Anthony Robert Julius, Chair Stuart Antony Adams, Trustee Katarina Julius, Trustee
Charity registered number
1192047
Principal office
71B Flask Walk, London, NW3 1ET
Accountants
Nyman Libson Paul LLP, 124 Finchley Road, London, NW3 5JS
Page 1
THE 13 TAMMUZ 5769 TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2023
The Trustees present their annual report together with the financial statements of the The 13 Tammuz 5769 Trust for the 1 November 2022 to 31 October 2023.
Objectives and activities
a. Policies and objectives
The Charity's objectives are to preserve and protect physical and mental health through the promotion of psychoanalysis, and the education of the general public in the field of psychoanalysis and the promotion of the arts.
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. Main achievements of the Charity
The charity made a donation towards a TV documentary development project in the year and mostly incurs expenses in relation to the promotion of mental health.
Financial review
a. Going concern
The Charity incurred a surplus of £1,188 (2022: deficit of £12,943) during the year with a cumulative deficit of £33,445. As per note 6, the Trustee has provided guarantees that the funding will not need to be repaid and it is their intention to donate further funds to the charity to cover the discharge of this amount. Thus, 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.
b. Reserves policy
The charity is in the process of establishing a reserves policy which will be formalised once more monies are invested for charitable purposes.
c. Financial Results
The Charity incurred a surplus of £1,188 (2022: deficit of £12,943). In previous years the charity paid for its ongoing costs through temporary funding from or by a trustee. Although at the reporting date £34,434 is due to one of the trustees, it is their intention to donate further funds to the charity to cover the discharge of this amount.
Structure, governance and management
a. Constitution
The 13 Tammuz 5769 Trust is a registered charity, number 1192047, and is constituted under a CIO Foundation constitution. It has been registered with the Charity Commission since 28 October 2020.
Page 2
THE 13 TAMMUZ 5769 TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
Structure, governance and management (continued)
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and under the terms of the constitution.
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 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:
-
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 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 on and signed on their behalf by:
Anthony Robert Julius (Trustee)
Katarina Julius (Trustee)
Page 3
THE 13 TAMMUZ 5769 TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2023
| Note Income from: Donations and legacies 3 Bank interest 4 Total income Expenditure on: Charitable activities 5 Total expenditure Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 6,250 8 6,258 5,070 5,070 (34,633) 1,188 (33,445) |
Total funds 2023 £ 6,250 8 6,258 5,070 5,070 (34,633) 1,188 (33,445) |
Total funds 2022 £ - - - 12,943 12,943 (21,690) (12,943) (34,633) |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 6 to 11 form part of these financial statements.
Page 4
THE 13 TAMMUZ 5769 TRUST
BALANCE SHEET AS AT 31 OCTOBER 2023
| 2023 | 2023 | 2022 | 2022 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Note | £ | £ | |||||||||||||
| Current assets | |||||||||||||||
| Cash at bank and | in hand | 2,429 | - | ||||||||||||
| 2,429 | - | ||||||||||||||
| Creditors: amounts falling due | within one | ||||||||||||||
| year | 7 | (35,874) | (34,633) | ||||||||||||
| Total net assets | (33,445) | (34,633) | |||||||||||||
| Charity funds | |||||||||||||||
| Restricted funds | 8 | - | - | ||||||||||||
| Unrestricted funds | 8 | (33,445) | (34,633) | ||||||||||||
| Total funds | (33,445) | (34,633) | |||||||||||||
| The financial |
statements | were | approved | and | authorised | for | issue | by | the |
Trustees | on |
||||
| _______and signed on | their | behalf by: |
Anthony Robert Julius (Trustee)
Katarina Julius (Trustee)
The notes on pages 6 to 11 form part of these financial statements.
Page 5
THE 13 TAMMUZ 5769 TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
1. General information
The 13 Tammuz 5769 Trust is a Charitable Incorporated Organisation, registered in England and Wales with the Charity Commission. The address of its registered office is 71B Flask Walk, London, NW3 1ET.
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.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The 13 Tammuz 5769 Trust 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 Going concern
The Charity incurred a surplus of £1,188 (2022: deficit of £12,943) during the year with a cumulative deficit of £33,445, as per note 6, the Trustee has provided guarantees that the funding will not need to be repaid and it is their intention to donate further funds to the charity to cover the discharge of this amount. Thus, 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. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
2.3 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.
2.4 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.
Page 6
THE 13 TAMMUZ 5769 TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
2. Accounting policies (continued)
2.4 Expenditure (continued)
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.
2.5 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.
2.6 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.
2.7 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 Charity and which have not been designated for other purposes.
3. Income from donations and legacies
| Donations Similar incoming resources |
Unrestricted funds 2023 £ 5,000 1,250 6,250 |
Total funds 2023 £ 5,000 1,250 6,250 |
Total funds 2022 £ - - |
|---|---|---|---|
| - |
Page 7
THE 13 TAMMUZ 5769 TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
4. Investment income
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 | 2023 | 2022 | |
| £ | £ | £ | |
| Bank interest | 8 | 8 | - |
5. Analysis of expenditure by activities
| Expenditure Expenditure Analysis of direct costs Donations |
Activities undertaken directly 2023 £ 1,000 Activities undertaken directly 2022 £ 8,481 |
Support costs 2023 £ 4,070 Support costs 2022 £ 4,462 Direct costs 2023 £ 1,000 |
Total funds 2023 £ 5,070 |
|---|---|---|---|
| Total funds 2022 £ 12,943 |
|||
| Total funds 2023 £ 1,000 |
Page 8
THE 13 TAMMUZ 5769 TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
5. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Book production Art work for book Translator for book |
Direct costs 2022 £ 6,910 550 1,021 8,481 |
Total funds 2022 £ 6,910 550 1,021 |
|---|---|---|
| 8,481 |
Analysis of support costs
| Accountancy fees Bank charges Legal Fees Accountancy Fees |
Support costs 2023 £ 4,020 50 4,070 Support costs 2022 £ 1,912 2,550 4,462 |
Total funds 2023 £ 4,020 50 |
|---|---|---|
| 4,070 | ||
| Total funds 2022 £ 1,912 2,550 |
||
| 4,462 |
Page 9
THE 13 TAMMUZ 5769 TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
As at the balance sheet date an amount of £34,434 (2022: £31,281) was due to one of the trustees in connection with start-up costs of the charity settled on its behalf. The Trustee has provided guarantees that the funding will not need to be repaid and it is their intention to donate further funds to the charity to cover the discharge of this amount.
7. Creditors: Amounts falling due within one year
| Other creditors Accruals and deferred income |
2023 £ 34,434 1,440 35,874 |
2022 £ 31,281 3,352 |
|---|---|---|
| 34,633 |
8. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 November 2022 £ (34,633) Balance at 1 November 2021 £ (21,690) |
Income £ 6,258 Income £ - |
Expenditure £ (5,070) Expenditure £ (12,943) |
Balance at 31 October 2023 £ (33,445) Balance at 31 October 2022 £ (34,633) |
|---|---|---|---|---|
Page 10
THE 13 TAMMUZ 5769 TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
9. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Current assets Creditors due within one year Total Analysis of net assets between funds - prior year Creditors due within one year Total |
Unrestricted funds 2023 £ 2,429 (35,874) (33,445) Unrestricted funds 2022 £ (34,633) (34,633) |
Total funds 2023 £ 2,429 (35,874) (33,445) Total funds 2022 £ (34,633) (34,633) |
|---|---|---|
Page 11