Charity registration number 1200393 (England and Wales)
ASZ TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
ASZ TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr Alexander Strom Samuel Strom Darren Strom Philip Strom
Charity number (England and Wales)
Accountants
1200393 Weissbraun Emanuel 220 The Vale London NW11 8SR
ASZ TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Accountants' report | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 - 7 |
ASZ TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their annual report and financial statements for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Objectives and activities
The Object of the Charity is to advance any purpose which is Charitable according to the law of England and Wales.
The purpose of the Charity is general charitable purpose to Public by making grants to individuals in need and Charities Organisations.
Public Benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake when reviewing the Charity's aims and objectives in planning future activities.
Achievements and performance
Significant activities and achievements against objectives Financial review
Reserves policy
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The Charity is constituted as CIO registration on 16 September 2022.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr Alexander Strom
Samuel Strom Darren Strom Philip Strom
Recruitment and appointment of trustees
Recruitment, appointment and training of new trustees
It is a Charity's policy to recruit trustee when needed. The charity's elected trustees are appointed on the basis of Board's specifications concerning eligibility, personal competence, specialist skills, community knowledge and local availability.
New trustees are inducted into workings of the charity including it's Policy and Procedures, at an induction workshop specially organised for them by Board of Trustees.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
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ASZ TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
The trustees' report was approved by the Board of Trustees.
Philip Strom Trustee
3 February 2026
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ASZ TRUST
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ASZ TRUST FOR THE YEAR ENDED 31 MARCH 2023
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of ASZ Trust for the year ended 31 March 2023, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
It is your duty to ensure that ASZ Trust has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of ASZ Trust. You consider that ASZ Trust is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of ASZ Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Weissbraun Emanuel
Chartered Accountants 220 The Vale London NW11 8SR 3 February 2026
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ASZ TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
Notes
Net income and movement in funds
Reconciliation of funds:
Fund balances at 16 September 2022
Fund balances at 31 March 2023
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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ASZ TRUST
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023
| 2023 Notes £ The funds of the Charity The financial statements were approved by the trustees on ......................... .............................. Philip Strom Trustee |
£ |
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| - | |
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ASZ TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
Charity information
ASZ Trust is a registered Charity CIO organisation on 16 September 2022.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 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 are allocated on the portion of the asset’s use.
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ASZ TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
Trustees' expenses
There were no trustees' expense paid for the period ended 31 March 2023.
4 Employees
There were no employees during the year.
5 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
6 Related party transactions
There were no disclosable related party transactions during the year ( - none).
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