CHARITY REGISTRATION NUMBER: 1198437
LUSH DONATIONS
TRUSTEES' REPORT AND UNAUDITED ACCOUNTS
30 SEPTEMBER 2022
LUSH DONATIONS
LUSH DONATIONS CHARITABLE INCORPORATED ORGANISATION (CIO) FINANCIAL STATEMENTS 30 SEPTEMBER 2022
| Pages | |
|---|---|
| Trustees' Annual Report | 2 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 |
Page 1
LUSH DONATIONS TRUSTEES ANNUAL REPORT
The trustees present their report with the unaudited financial statements of the charity for the period ended 30 September 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1198437
Principal and Registered Office
113 Fairview Road
London N15 6TS
Trustees
The following trustees served during the year:
L Mandel N Schwartz P Dym
OBJECTIVES AND ACTIVITIES
The charity's objectives are to advance the Jewish religion, advance Jewish religious education and prevent and relieve poverty.
The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives in planning future events.
ACHIEVEMENTS AND PERFORMANCE
The charity employs its funds and resources for the benefit of the community, specifically for the prevention and relief of poverty, the advancement of the Jewish religion and advancement of Jewish religious education.
During the year the charity did not make any grants as it was yet to commence its activities
The financial results for the year to 30 September 2022 are fully reflected in the attached Financial Statements and the Notes thereon.
FINANCIAL REVIEW
Reserves Policy
The charity's policy is to maintain Unrestricted funds at a level which the trustees deem appropriate after considering future commitments and the likely costs for the next year.
As at 30 September 2022 the charity had no Unrestricted Funds as it was yet to formally commence its operations. After the year-end the charity hopes to receive donations which will enable it commence its charitable activities.
Grant Making Policy
The charity makes grants to organisations and individuals for the advancement of the Jewish religion, Jewish religious education and the prevention and relief poverty.
In making these grants, the trustees use their personal knowledge and experience of the community and its needs. The trustees monitor the application of the funds meeting with the recipients obtaining relevant and necessary information.
PRINCIPAL RISKS AND UNCERTAINTIES
Risk Management
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LUSH DONATIONS TRUSTEES ANNUAL REPORT
The trustees have identified and reviewed the major risks to which the charity is exposed, in particular operational and financial risks and are satisfied that appropriate systems are in place to manage and mitigate these risks.
PLANS FOR FUTURE PERIODS
The charity plans to provide grants to organisations and needy individuals whose needs are in line with the charity's stated objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is constituted as a Charitable Incorporated Organisation (CIO) and as such its governing document is its Constitution.
The trustees administer the day-to-day affairs of the charity. None of the Trustees have beneficial interest in the charity.
STATEMENT OF COMPLAINCE
The charity is a public benefit entity, a registered charity in England and Wales and is unincorporated. The address of the registered office is 113 Fairview Road, London, N15 6TS.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
N Schwartz
Trustee 5 July 2023
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LUSH DONATIONS STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
| Notes Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Total Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Total funds | Total funds | |
|---|---|---|---|
| 2022 | 2022 | ||
| £ | £ | £ | |
| - | - | - | |
| - | - | - | |
| - | - | - | |
| - | - | - | |
| - | - | - | |
| - | - | - | |
| - | - | - | |
The charity is dormant and has not undertaken any activity during the year.
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LUSH DONATIONS BALANCE SHEET
AS AT 30 SEPTEMBER 2022
| Charity No. 1198437 Current assets Cash at bank and in hand Creditors:Amount falling due within one year Net current assets Total assets less current liabilities Creditors:Amounts falling due after more than one year Total net assets The funds of the charity Unrestricted funds General funds Designated funds Reserves Revaluation reserve Pension reserve Total funds |
2022 £ - - - - - - - - - - - - - - |
£ - |
|---|---|---|
| - - |
||
| - - - |
||
| - | ||
| - - |
||
| - - - |
||
| - | ||
| - |
Total funds
Approved by the trustees on 5 July 2023
And signed on their behalf by:
N Schwartz Trustee 5 July 2023
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LUSH DONATIONS NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
Recognition of income Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is reported gross expenditure in the SoFA.
Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the gift/donation to donations and gifts which it relates. Donated services and These are only included in income (with an equivalent amount in expenditure) where the facilities benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. This includes any gain or loss resulting from revaluing investments to market value at the Gains/(losses) on end of the year. revaluation of fixed assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
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LUSH DONATIONS NOTES TO THE ACCOUNTS
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot expenditure be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on raising These comprise the costs associated with attracting voluntary income, fundraising trading funds costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and services charitable activities in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation where relevant is provided in order to write off each asset over its estimated useful life.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Intangible fixed assets and amortisation
Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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LUSH DONATIONS NOTES TO THE ACCOUNTS
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
- 2 Trustee remuneration and expenses
None of the trustees have been paid any remuneration in the current or prior periods.
None of the trustees have been paid any expenses in the current or prior periods.
- 3 Staff costs
No employee received emoluments in excess of £60,000.
- 4 Related party disclosures
No related party transactions were entered into during the year.
5 Limited Liability
The liability of each member in the event of winding up is limited to £1.
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