Docusign Envelope ID: 78FB3D10-3976-4F75-B7AD-6F7962E18317 **REGISTERED CHARITY NUMBER: 1198261** **Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2024** **for** **The Kanzen Family Trust** Cooper Parry Advisory Limited New Derwent House 69-73 Theobalds Road London WC1X 8TA Docusign Envelope ID: 78FB3D10-3976-4F75-B7AD-6F7962E18317 **The Kanzen Family Trust** ## **Contents of the Financial Statements for the year ended 5 April 2024** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Balance Sheet**||6|| |**Notes to the Financial Statements**|7|to|9| Docusign Envelope ID: 78FB3D10-3976-4F75-B7AD-6F7962E18317 **The Kanzen Family Trust** ## **Report of the Trustees for the year ended 5 April 2024** The trustees present their report with the financial statements of the Charity for the year ended 30 June 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **Objectives and activities** ## **Objectives and aims** The Kanzen Family Trust is dedicated to making a positive impact in the community through generous donations to various mainly UK charities that align with our mission. Our primary objectives focus on alleviating the burdens faced by underprivileged families, enhancing educational opportunities, and bolstering community support networks. Throughout the past year, our activities have been centred on identifying and providing financial assistance to credible charities that are making a tangible difference in these areas. We are committed to ensuring that our donations are utilised effectively to maximize the benefits for those in need. Our overarching aim is to contribute to the creation of a more equitable society where individuals and families have access to the resources and support they need to thrive. We believe that through our continued efforts and the collaboration with our charity partners, we can play a vital role in bringing about positive change and fostering a stronger, more supportive community. ## **Significant activities** Over the preceding year, the Kanzen Family Trust has devoted a considerable portion of our resources and endeavours to bolstering community initiatives, striving to enrich the lives of individuals in local areas. Our principal activities have involved dispensing financial aid and resources to organisations and programmes within the community, aiming to uplift and empower residents, particularly those confronting financial difficulties. We have proactively identified and forged partnerships with organisations that are integral to the community, ensuring that our contributions make a tangible difference to the lives of individuals and families. From bolstering food banks and shelters to investing in educational ventures and community hubs, our goal has been to meet the immediate needs of the community whilst also fostering long-term sustainable growth. Through these endeavours, the Kanzen Family Trust has established itself as a key player in fortifying community ties, delivering crucial support services, and enhancing the overall standard of living for local residents. Our dedication to supporting communities remains steadfast, and we are committed to continuing our work in this sector, striving to create more robust and resilient communities. ## **Achievement and performance** ## **Charitable activities** Over the past year, the Kanzen Family Trust has made substantial contributions, with a primary focus on community support initiatives aimed at assisting underprivileged groups, particularly the youth. Our donations have directly facilitated a range of programs and services designed to uplift and empower those in need, fostering positive change and development within the community. We have strategically selected charities that align with our mission and have a proven track record of making a meaningful impact, ensuring that our funds are used effectively and efficiently. Our contributions have supported educational programs, youth development initiatives, community centres, and various other projects that directly benefit underprivileged youth and their families. The positive feedback and success stories from these charities underscore the tangible impact of our donations, and we take pride in knowing that our support has played a vital role in improving the lives of numerous individuals. We remain committed to continually assessing and enhancing our charitable activities to ensure that we are making the greatest possible impact and contributing to the betterment of our community. ## **Fundraising activities** The Kanzen Family Trust relies solely on support from the family business discussed in the 'Related Parties' section of this report. ## **Financial review** ## **Principal funding sources** The Kanzen Family Trust relies solely on support from the family business discussed in the 'Related Parties' section of this report. Page 1 Docusign Envelope ID: 78FB3D10-3976-4F75-B7AD-6F7962E18317 **The Kanzen Family Trust** ## **Report of the Trustees for the year ended 5 April 2024** ## **Financial review** ## **Reserves policy** The Kanzen Family Trust establishes this Reserves Policy to ensure financial stability and sustainability, safeguarding our ability to fulfil our charitable objectives and commitments, even in times of financial uncertainty. The Trust aims to maintain a minimum reserve of £25,000. This level is deemed sufficient to keep the charity active and secure, providing a financial cushion that ensures the continuity of our operations and charitable activities. ## The reserves are maintained to: - Cover unexpected expenditures or shortfalls in income. - Provide a financial buffer to ensure the uninterrupted operation of ongoing projects and commitments to the charities we support, particularly during times of unforeseen financial strain. - Enable the Trust to take advantage of new opportunities that align with our mission and objectives, should they arise. The reserves are held in a dedicated bank account with the Royal Bank of Scotland. The Trust is committed to managing these funds responsibly, ensuring that they are readily accessible when needed, while also seeking to preserve their value against inflation. The investment strategy for these funds will be conservative, prioritising security and liquidity over high returns. The level of reserves will be reviewed annually as part of the Trust’s regular financial planning and review process. This review will assess the adequacy of the reserves in light of the current financial climate, the Trust’s upcoming commitments, and any potential risks or opportunities on the horizon. During this annual review, the Trust will also evaluate the continued financial support from the family business, ensuring that our reserves policy remains aligned with our anticipated income and the overall financial health of our supporting entities. If the reserves fall below the established minimum level, the Trust will take immediate action to replenish them, either through additional fundraising activities, cost-saving measures, or, if necessary, a temporary reduction in charitable giving. Conversely, if the reserves significantly exceed the required minimum, the Trust will assess whether these excess funds could be more effectively used to further our charitable objectives, always ensuring that a sufficient financial safety net is maintained. The Kanzen Family Trust is committed to transparency and accountability in all aspects of our financial management. The reserves policy will be made available to all stakeholders, including trustees, donors, and beneficiaries, and we will provide regular updates on the status of our reserves as part of our annual reporting. Through this Reserves Policy, the Kanzen Family Trust underscores our commitment to financial prudence, responsibility, and the long-term sustainability of our charitable activities. ## **Future plans** As we look to the future, the Kanzen Family Trust will persist in our consistent support of various UK charities, concentrating on community assistance, educational initiatives, and aiding underprivileged families. Our unwavering commitment to these vital causes will remain at the forefront of our activities, ensuring the ongoing stability and efficacy of our charitable endeavours. In parallel, we are preparing to actively scan the horizon for any potential developments that could influence our work. Our team will remain vigilant, keeping a finger on the pulse of emerging trends, potential challenges, and new opportunities that could shape the landscape of our charitable activities. We acknowledge the dynamic nature of the charity sector, and we stand ready to adapt our strategies and operations to navigate any changes and continue meeting the needs of the communities we champion. Whether responding to unexpected events or capitalising on new chances to enhance our impact, the Kanzen Family Trust is committed to steering a course through the future, ensuring we remain a steadfast and influential force for good. ## **Structure, governance and management Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. Page 2 Docusign Envelope ID: 78FB3D10-3976-4F75-B7AD-6F7962E18317 **The Kanzen Family Trust** ## **Report of the Trustees for the year ended 5 April 2024** ## **Structure, governance and management** ## **Recruitment and appointment of new trustees** The Kanzen Family Trust has maintained a stable and dedicated board of trustees over the past year, with no changes in its composition, and we do not anticipate any changes in the foreseeable future, expressing gratitude for the continued commitment and expertise of our current team. ## **Organisational structure** The organisational structure of the Kanzen Family Trust has remained consistent over the past year, continuing to support our efficient operation and effective delivery of services. Our dedicated team works synergistically across various departments to uphold our mission and values, demonstrating a steadfast commitment to the communities we serve. ## **Related parties** In the interest of transparency and accountability, we disclose that the Kanzen Family Trust has not engaged in transactions with related parties, with the exception of Customchain Limited, which is the main business entity of the family. Our interactions with Customchain Limited have been conducted in a manner consistent with our commitment to integrity and fairness, ensuring that the best interests of the Trust and the communities we serve are always at the forefront. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Kanzen Family Trust is committed to maintaining the highest standards of risk management to safeguard our operations and the communities we serve. Over the past year, we have diligently monitored potential risks and are pleased to report that we are not aware of any significant risks currently facing the Trust. Our proactive approach to risk management, combined with our strong governance practices, ensures that we are well-prepared to address any potential challenges that may arise, maintaining the trust and confidence of our stakeholders and the families we support. ## **Reference and administrative details Registered Charity number** 1198261 ## **Principal address** Odeliah House 1 New Brent Street London W4 2DF ## **Trustees** Ms D Kanzen R Kanzen Mrs J I Kanzen J B Kanzen ## **Independent Examiner** Cooper Parry Advisory Limited New Derwent House 69-73 Theobalds Road London WC1X 8TA 30 October 2024 Approved by order of the board of trustees on ............................................. and signed on its behalf by: .................................................................... J B Kanzen - Trustee Page 3 Docusign Envelope ID: 78FB3D10-3976-4F75-B7AD-6F7962E18317 ## **Independent Examiner's Report to the Trustees of The Kanzen Family Trust** ## **Independent examiner's report to the trustees of The Kanzen Family Trust** I report to the charity trustees on my examination of the accounts of The Kanzen Family Trust (the Trust) for the year ended 5 April 2024. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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. James Maxwell Cooper Parry Advisory Limited New Derwent House 69-73 Theobalds Road London WC1X 8TA 30 October 2024 Date: ............................................. Page 4 Docusign Envelope ID: 78FB3D10-3976-4F75-B7AD-6F7962E18317 ## **The Kanzen Family Trust** ## **Statement of Financial Activities for the year ended 5 April 2024** ||||**Period**| |---|---|---|---| ||||**16/3/22**| |||**Year ended**|**to**| |||**5/4/24**|**5/4/23**| |||**Unrestricted**|| |||**fund**|**Total funds**| ||**Notes**|**£**|**£**| |**Income and endowments from**|||| |Donations and legacies||-|395,830| |**Expenditure on**|||| |Other||91,360|103,846| |**NET INCOME/(EXPENDITURE)**||(91,360)|291,984| |**Reconciliation of funds**|||| |Total funds brought forward||291,984|-| |**Total funds carried forward**||200,624|291,984| The notes form part of these financial statements Page 5 Docusign Envelope ID: 78FB3D10-3976-4F75-B7AD-6F7962E18317 ## **The Kanzen Family Trust** ## **Balance Sheet 5 April 2024** |||**2024**|**2023**| |---|---|---|---| |||**Unrestricted**|| |||**fund**|**Total funds**| ||**Notes**|**£**|**£**| |**Current assets**|||| |Cash at bank||205,244|295,484| |**Creditors**|||| |Amounts falling due within one year|4|(4,620)|(3,500)| |**Net current assets**||200,624|291,984| |**Total assets less current liabilities**||200,624|291,984| |**NET ASSETS**||200,624|291,984| |**Funds**|5||| |Unrestricted funds||200,624|291,984| |**Total funds**||200,624|291,984| > The 30 October 2024 financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. J B Kanzen - Trustee The notes form part of these financial statements Page 6 Docusign Envelope ID: 78FB3D10-3976-4F75-B7AD-6F7962E18317 **The Kanzen Family Trust** ## **Notes to the Financial Statements for the year ended 5 April 2024** ## **1. Accounting policies** ## **Basis of preparing the financial statements** The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Incoming resources** All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance condition require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised on a regular basis. ## **Resources expended** 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. ## **Taxation** The charity is exempt from 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. ## **Financial instruments** Financial assets and liabilities are recognised when the Charity becomes party to the contractual provisions of the financial instrument. The Charity holds both basic financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables, loans and borrowings. The trustees have chosen to apply the provisions of Section 11 Basic Financial Instruments. Financial assets - classified as basic financial instruments ## (i) Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less. Financial liabilities - classified as basic financial liabilities ## (ii) Trade and other payables and loans and borrowings Trade and other payables are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount of the cash expected to be paid. ## **Assessment of Going Concern** The Trustee's have reviewed the Trust's current resources and principal income streams and assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustee's have made this assessment in respect to a period of one year from the date of approval of these accounts. The Trustee's have concluded that the Charity has adequate resources to meet its liabilities as they fall due and to continue in operational existence for the foreseeable future. Page 7 Docusign Envelope ID: 78FB3D10-3976-4F75-B7AD-6F7962E18317 **The Kanzen Family Trust** ## **Notes to the Financial Statements - continued for the year ended 5 April 2024** ## **2. Trustees' remuneration and benefits** There were no trustees' remuneration or other benefits for the year ended 5 April 2024 nor for the period ended 5 April 2023. ## **Trustees' expenses** Trustees made donations during the period of £2,180 (2023: £39,183) on behalf of the Charity and were reimbursed in full. ## **3. Comparatives for the statement of financial activities** ||||**Unrestricted**|**Unrestricted**| |---|---|---|---|---| ||||**fund**|| |||||**£**| |**Income and endowments from**||||| |Donations and legacies|||395,830|| |**Expenditure on**||||| |Other|||103,846|| |**NET INCOME**|||291,984|| |**Total funds carried forward**|||291,984|| |**Creditors: amounts falling due within one year**||||| |||**2024**|**2023**|| |||**£**|**£**|| |Other creditors||4,620|3,500|| |**Movement in funds**||||| |||**Net**||| |||**movement**||| ||**At 6/4/23**|**in funds**|**At 5/4/24**|| ||**£**|**£**|**£**|| |**Unrestricted funds**||||| |General fund|291,984|(91,360)|200,624|| |**TOTAL FUNDS**|291,984|(91,360)|200,624|| |Net movement in funds, included in the above are as follows:||||| ||**Incoming**|**Resources**|**Movement**|| ||**resources**|**expended**|**in funds**|| ||**£**|**£**|**£**|| |**Unrestricted funds**||||| |General fund|-|(91,360)|(91,360)|| |**TOTAL FUNDS**|-|(91,360)|(91,360)|| ## **4. Creditors: amounts falling due within one year** ## **5. Movement in funds** Page 8 Docusign Envelope ID: 78FB3D10-3976-4F75-B7AD-6F7962E18317 **The Kanzen Family Trust** ## **Notes to the Financial Statements - continued for the year ended 5 April 2024** ## **5. Movement in funds - continued** ## **Comparatives for movement in funds** ||**Net**|| |---|---|---| ||**movement**|| ||**in funds**|**At 5/4/23**| ||**£**|**£**| |**Unrestricted funds**||| |General fund|291,984|291,984| |**TOTAL FUNDS**|291,984|291,984| Comparative net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Movement**| |---|---|---|---| ||**resources**|**expended**|**in funds**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|395,830|(103,846)|291,984| |**TOTAL FUNDS**|395,830|(103,846)|291,984| ## **6. Related party disclosures** During the prior period, donations were received by the Charity of £395,830, by a company which the Trustee's are directors of. No such donations were made in the year. Trustees made donations during the period of £2,180 (2023: £39,183) on behalf of the Charity and were reimbursed in full. Page 9