ZILBERMAN FILM FOUNDATION
TRUSTEES' ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
ZILBERMAN FILM FOUNDATION
INDEX TO THE TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
| Index | Page | ||
|---|---|---|---|
| Trustees' Annual Report | 1 | - | 3 |
| Accountants' Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Accounts | 7 | - | 9 |
ZILBERMAN FILM FOUNDATION
1
TRUSTEES' ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2023
The trustees present their report and accounts for the period ended 31 March 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and "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)".
Reference and Administrative Information
Charity Number: 1198686
Principal Office
33 Montagu Mansions, London W1U 6LB
Trustees
Julia Zilberman Richard Creasy Edward Aldridge (retired 7 August 2022) Marc Giraudon (appointed 7 August 2022)
Accountants
UHY Hacker Young LLP, Quadrant House, 4 Thomas More Square, London E1W 1YW
Structure, Governance and Management
The charity is a Charitable Incorporated Organisation (a "CIO"), established under a constitution dated 14 April 2022 with objects as set out below.
The constitution provides for a minimum of three trustees. Those trustees are required to retire by rotation, with new trustees appointed by the members or by the existing trustees. The trustees meet at such intervals as they consider appropriate.
The charity has no full time or part time employees or volunteers. The daily administration of the charity is carried out by the trustees themselves.
Risk Management
The trustees have reviewed the major and financial risks that impact on the work of the trust. The systems that have been established enable the trustees to review and take necessary steps to lessen these risks.
Objectives and Activities
The object of the charity is to further the advancement of the arts by supporting and encouraging the continued development, work and education of persons working in the creation, production and development of the arts of film and television.
ZILBERMAN FILM FOUNDATION
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TRUSTEES' ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2023 (Continued)
Public Benefit
The trustees have complied with section 17(5) of the 2011 Charities Act, having due regard for the Charity Commission's guidance on public benefit when reviewing the trust's aims and objectives, when setting the grant making policy and in making awards.
Grant Making Policy
The trustees consider all grant applications on an individual basis and will make donations to approved applications, when funds are available.
Achievement and Performance
The trustees did not award any grants during the year.
Financial Review
The Charity is reliant on the receipt of donations.
Investment Policy and Performance
There are no restrictions on the charity's power to invest.
Reserves Policy
The trustees' aim is to maintain free reserves in unrestricted funds at a level that will provide sufficient funds to respond to applications for grants and ensure that there are sufficient funds available to cover support and governance costs. The actual level of reserves as at 31 March 2023 amounted to £2,780.
Plans for the Future
The trustees have no immediate plans to modify or radically change any of the objects, activities or policies described above.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
ZILBERMAN FILM FOUNDATION
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TRUSTEES' ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2023 (Continued)
Statement of trustees' responsibilities (continued)
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and the application of resources of the charity for that year. In preparing these accounts, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the applicable Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts 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 on behalf of the trustees:
………………………………………. Marc Giraudon (Trustee)
Date: …………………………………
4
ACCOUNTANTS' REPORT TO THE TRUSTEES OF ZILBERMAN FILM FOUNDATION ON THE UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023
In accordance with the engagement letter dated 22 March 2021 we have compiled the financial statements of the Zilberman Film Foundation set out on pages 5 to 9 from the accounting records and information and explanations provided to us by the trustees and by third parties. The financial statements have been compiled under the historical cost basis. They are not intended to achieve full compliance with the provisions of UK Generally Accepted Accounting Principles.
This report is made to you in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial information that we have been engaged to compile, report to you that we have done so, and state those matters that we have agreed to state to you in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the trustees for our work or this report.
We have carried out this engagement in accordance with the technical guidance issued by the Institute of Chartered Accountants in England and Wales and have complied with the ethical guidance laid down by the Institute.
By signing and dating the attached Balance Sheet you have indicated your approval of the financial statements and have acknowledged your responsibility for them, for the appropriateness of the accounting basis and for providing all information and explanations necessary for their compilation.
We have not been instructed to carry out an audit of the financial statements. For this reason we have not verified the accuracy or completeness of the accounting records or information and explanations received from third parties or from the trustees and we do not express any opinion on the financial statements.
UHY Hacker Young LLP Chartered Accountants London
Date:
ZILBERMAN FILM FOUNDATION
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MARCH 2023
| 2023 | ||
|---|---|---|
| Unrestricted | ||
| funds | ||
| Note | £ | |
| Income and endowments from: | ||
| Donations | 2 | 5,000 |
| Total income | 5,000 | |
| Expenditure on: | ||
| Charitable activities | 4 | (2,220) |
| Total expenditure | (2,220) | |
| Net movement in funds | 2,780 | |
| Reconciliation of funds: | ||
| Total funds brought forward | - | |
| Total funds carried forward | £2,780 |
ZILBERMAN FILM FOUNDATION
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BALANCE SHEET AS AT 31 MARCH 2023
| Note Current assets Debtors 9 Cash at bank 10 Total assets Liabilities Creditors falling due within one year 11 Total assets less current liabilities Creditors falling due after one year 11 The funds of the charity Unrestricted funds (page 4) Total net assets |
2023 £ - 5,000 |
|---|---|
| 5,000 | |
| (2,220) | |
| 2,780 - |
|
| £2,780 | |
| £2,780 |
The financial statements as set out on pages 5 to 9 were approved by the Trustees on …....................... 2024 and are hereby signed on their behalf by:
……………………………………….
Marc Giraudon (Trustee)
ZILBERMAN FILM FOUNDATION
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NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023
1 Accounting policies
1.1 Basis of preparation
These accounts have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and “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)”. The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.
The accounts have been prepared under the historical cost convention, the principal accounting policies adopted are set out below.
1.2 Going concern
The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and have therefore continued to adopt a going concern basis for the preparation of their accounts.
1.3 Charitable funds
All funds are unrestricted. Both the capital and income of the charity can be applied at the discretion of the trustees in the furtherance of the objects of the trust.
1.4 Income recognition
All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and the amount of income receivable can be measured reliably.
1.5 Expenditure recognition
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. Unless otherwise stated in these accounts, all expenditure is accounted for on an accruals basis and classified under headings that aggregate all costs related to the
These financial statements include a fee provision for the accountancy cost of their preparation.
Grants are awarded in the furtherance of the charitable objectives of the trust. Such grants are accounted for when the trustees have awarded the grant unconditionally, or where any conditions relating to the grant award remain beyond the trustees' control.
1.6 Irrecoverable VAT
Irrecoverable VAT is charged against the category of resource expenditure in relation to which it was incurred.
1.7 Charitable Activities
Expenditure on charitable activities includes grants awarded and governance costs.
Governance costs comprise all expenditure relating to the charity's public accountability, regulatory compliance, and good practice.
1.8 Investments
Investments are stated at their market value as at the balance sheet date.
1.9 Gains and losses on investments
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sale proceeds and their opening carrying value or their acquisition cost if acquired during the current financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
ZILBERMAN FILM FOUNDATION
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NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023 (Continued)
2 Donations received
During the period the charity received a donation of £5,000.
| 3 Investment income Interest on cash deposits 4 Expenditure on charitable activities Net grants awarded - (note 5) Governance costs - (note 6) 5 Grants Grants awarded during the year 6 Governance costs Accountancy fees Legal fees Other administrative expenses |
2023 £ - |
|---|---|
| £- | |
| 2023 £ - 2,220 |
|
| £2,220 | |
| 2023 £ |
|
| £- | |
| 2023 £ 2,220 - - |
|
| £2,220 |
7 Staff costs
No staff were employed by the charity during the year. The daily administration of the charity was carried out by the trustees.
8 Related party transactions and trustees' remuneration
No trustees received remuneration or benefits from the charity during the year.
No trustees were reimbursed for their expenses during the year.
ZILBERMAN FILM FOUNDATION
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023 (Continued)
| 9 Analysis of current assets Debtors Gift Aid tax repayment 10 Cash at bank NatWest current account 11 Analysis of liabilities Creditors falling due within one year Accountancy fees Other professional fees Creditors falling due after one year Grants awarded for future payment |
2023 £ - |
|---|---|
| £- | |
| £ 5,000 |
|
| £5,000 | |
| 2023 £ 2,220 - |
|
| £2,220 | |
| 2023 £ - |
|
| £- |