**Charity registration number 1200405**
## **KRAUSLI TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **KRAUSLI TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Sandra Cymerman Marcel Kraus Yvonne Brandeis Susanne Kraus
**Charity number** 1200405 **Independent examiner** Weissbraun Emanuel 220 The Vale London NW11 8SR
## **KRAUSLI TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 10|
## **KRAUSLI TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
The trustees present their annual report and financial statements for the year ended 31 March 2024.
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 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)" (effective 1 January 2019).
## **Objectives and activities**
The object of the trust 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.
## _Activities_
The Charity received share of investment total amount £427,423 at Ockway House limited as a donation from A B Strom Charitable Trust on 31 March 2023.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
The trustees consider that the performance of the charity this year has been satisfactory. Substantial funds have been granted to various Charities in UK in line with charity's objectives from the donations received from institutional donor Ockway House. Ockway house has made a total donation of £139,185 during the year. The charity has total assets worth £427,423 in Ockway House.
## **Financial review**
In the period under review, the Charity made a surplus of £73,350 after making a charitable payments of £65,355.
## _Going concern_
## **Internal and external factors**
The Trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not redeem any material factors to have an impact of Charity's future and going concern.
## _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 20 September 2022.
The trustees who served during the year and up to the date of signature of the financial statements were: Sandra Cymerman Marcel Kraus Yvonne Brandeis Susanne Kraus
- 1 -
## **KRAUSLI TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## _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.
## _Organisational structure_
The days to days activities is managed by Sandra Cymerman and supported by all other trustees.
The trustees' report was approved by the Board of Trustees.
Sandra Cymerman **Trustee**
Marcel Kraus **Trustee**
29 January 2025
- 2 -
## **KRAUSLI TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF KRAUSLI TRUST**
I report to the trustees on my examination of the financial statements of Krausli Trust (the charity) for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
## **Michael Weissbraun, FCCA**
## **Weissbraun Emanuel**
220 The Vale London NW11 8SR
Dated: 29 January 2025
- 3 -
## **KRAUSLI TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2024**|**2023**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations and legacies|**3**|139,186|427,423|
|**Total income**||139,186|427,423|
|**Expenditure on:**||||
|Charitable activities|**4**|65,835|-|
|**Total expenditure**||65,835|-|
|**Net income and movement in funds**||73,351|427,423|
|**Reconciliation of funds:**||||
|Fund balances at 1 April 2023||427,423|-|
|**Fund balances at 31 March 2024**||500,774|427,423|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
## **KRAUSLI TRUST**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2024**_
|**Notes**
**Fixed assets**
Heritage assets
**10**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**11**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Unrestricted funds
**12**|**2024**
**£**
73,831
(480)|**£**
427,423
73,351
500,774
500,774
500,774|**2023**
**£**
-
-|**£**
427,423
-|
|---|---|---|---|---|
|||||427,423|
|||||427,423|
|||||427,423|
The financial statements were approved by the trustees on 29 January 2025
Sandra Cymerman **Trustee**
Marcel Kraus **Trustee**
- 5 -
## **KRAUSLI TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **Charity information**
Krausli Trust is a registered Charity CIO organisation on 20 September 2022.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's CIO documents, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). 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.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **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.
- 6 -
## **KRAUSLI TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **(Continued)**
## **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.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
## **1.7 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **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.
- 7 -
## **KRAUSLI TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**3**|**Income from donations and legacies**|||
|---|---|---|---|
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2024**|**2023**|
|||**£**|**£**|
||Donations and gifts|139,186|427,423|
|**4**|**Expenditure on charitable activities**|||
||||**Charitable**|
||||**payment**|
||||**2024**|
||||**£**|
||**Direct costs**|||
||Grant funding of activities (see note 5)||65,355|
||**Share of support and governance costs (see note 6)**|||
||Governance||480|
||||65,835|
||**Analysis by fund**|||
||Unrestricted funds||65,835|
|**5**|**Grants payable**|||
||||**Charitable**|
||||**payments**|
||||**2024**|
||||**£**|
||Grants to institutions:|||
||Other||65,355|
||-|||
|**6**|**Support costs allocated to activities**|||
|||**2024**|**2023**|
|||**£**|**£**|
||Governance costs|480|-|
||**Analysed between:**|||
||Heading #ac982|480|-|
- 8 -
## **KRAUSLI TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**7**|**Net movement in funds**|**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
The net movement in funds is stated after charging/(crediting):
## **8 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.
## **9 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **10 Heritage assets**
|**At 1 April 2023 and at 31 March 2024**
**11**
**Creditors: amounts falling due within one year**
**2024**
**£**
Accruals and deferred income
480|**£**
427,423|
|---|---|
||**2023**
**£**
-|
## **12 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 April**|**Incoming**|**Resources**|**At 31 March**|
|---|---|---|---|---|
||**2023**|**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|General funds|427,423|139,186|(65,835)|500,774|
|**Previous Period:**|**At 1 April**|**Incoming**|**Resources**|**At 31 March**|
||**2022**|**resources**|**expended**|**2023**|
||**£**|**£**|**£**|**£**|
|General funds|-|427,423|-|427,423|
- 9 -
## **KRAUSLI TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **13 Related party transactions**
There were no disclosable related party transactions during the year (2023 - none).
- 10 -