THE LAUFFER FAMILY CHARITABLE TRUST TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
CHARITY NUMBER 251115
Clayton Stark & Co Chartered Accountants 5[th ] Floor, Charles House 108-110 Finchley Road London NW3 5JJ
THE LAUFFER FAMILY CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
CONTENTS
| Page | |
|---|---|
| Trustees' Report | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 13 |
THE LAUFFER FAMILY CHARITABLE TRUST
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021
REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees: JS Lauffer G LLauffer RM Lauffer
Governing Document and Constitution Trust Deed dated 13 December 1965, as an unincorporated association in England.
Charity Registration Number 251115 Charity Office 123 Hampstead Way London NWl l 7JN Bankers Barclays Bank plc 28 Hampstead High Street London NW3 1 QB Investment Managers Brewin Dolphin Securities Ltd. 12 Smithfield Street London EClA 9BD Raymond James Investment Services Ltd. Broadwalk House 5 Appold Street London EC2A 2AG Accountants Clayton Stark & Co. (Chartered Accountants) 5 [th ] Floor, Charles House 108-110 Finchley Road London NW3 5JJ
THE LAUFFER FAMILY CHARITABLE TRUST
TRUSTEES' REPORT (continued)
The trustees present their report and financial statements for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out on pages 8 and 9 and comply with the charity's trust deed and applicable law.
Structure, Governance and Management
The trustees named on page l served throughout the year. Appointment of trustees is governed by the Trust Deed of the charity. The trustees are responsible for the day to day administration of the charity and hold periodic trustees' meetings.
The Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. The Board of Trustees ensures that the skill requirements of trustees are kept under review. New trustees, if required, are sought by recommendation from existing trustees, and the required training is given by the existing trustees.
Investment Powers
The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity. Details of investments held are shown in the financial statements.
Objectives and Activities for public benefit
The Charitable Trust is constituted by Trust Deed and its public benefit objectives and aims, and grant-making policy, are to apply the Trust Fund and Income thereof for general charitable purposes in the scheduled territories as specified in the Trust Deed. The scheduled territories are :-
The United Kingdom of Great Britain and Northern Ireland (including the Isle of Man and the Channel Islands). Canada, Australia, New Zealand, The Union of South Africa, Pakistan and Ceylon. The Republic of India.
Any other territories forming part of the British Commonwealth and Empire of which the Queen is registered as Head.
The State of Israel.
The United States of America.
Grant - Making Policy
The trustees meet from time to time to consider making charitable grants to institutions and to review any applications for grants that have been received.
In furtherance of its public objectives, during the year the charity made institutional grants of £367,408 for general charitable purposes, details of which are shown in note 3 of the Notes to the Financial Statements. The policy of the charity is to continue to apply the Trust Fund and Income thereof for general charitable purposes in the aforesaid scheduled territories, as specified in the Trust Deed, for public benefit.
Achievements and Performance
The trustees consider that the performance of the charity this year has been satisfactory. During the year the charity made 155 institutional grants for the aforementioned general charitable purposes in support of the public benefit activities of those institutions.
Other than the Board of Trustees, the charity is not dependent upon the services of unpaid volunteers, donations in-kind or other intangible income.
Financial Review
The principle source of income is investment income.
Details of expenditure on charitable activities are shown in the Statement of Financial Activities on page 6 of the Financial Statements. Expenditure incurred during the year related to Charitable Grants, and Support Costs (Governance Costs) necessary in relation to the charity's activities.
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THE LAUFFER FAMILY CHARITABLE TRUST
TRUSTEES' REPORT (continued)
Financial review (continued)
The charity's assets are held for the purpose of making Grants for general charitable purposes in the aforesaid scheduled territories as specified in the Trust Deed dated 19 December 1965 and the Board of Trustees consider that the financial position of the charity at 31 March 2021 is satisfactory to enable it to continue to make such Grants.
During the year Brewin Dolphin Securities Limited and Raymond James Investment Services continued to act as Investment Managers of the charity's listed investments. During the year there were Realised Gains and Unrealised Gains on listed investments of £232,443 and £1,002,713 respectively.
The listed investments held by the charity have been acquired in accordance with the powers available to the trustees. The 31 March 2021 value of the listed investments has been substituted for their historical cost and value when settled and details are shown in note 6 of the Notes to the Financial Statements.
Reserves Policy
The trustees have examined the requirement for free reserves which are those unrestricted funds not invested in Fixed Assets. It is the policy of the charity to maintain free reserves at a level considered adequate to provide sufficient funds for on average approximately two to three months' unrestricted expenditure to cover governance costs and to respond to emergency applications for grants which may arise from time to time; the free reserves amounted to £1,401 at 31 March 2021. Designated Funds have been created up to an amount equivalent to the value of Fixed Assets held as these represent funds not immediately available for charitable grants; at 31 March 2021 the Designated Funds amounted to £4,893,969.
Future Plans
The charity intends to continue making institutional grants for the aforementioned charitable purposes, as specified in the Trust Deed, for public benefit.
Risk Management
The trustees have reviewed the affairs of the charity and do not consider that there are any major, strategic, business and operational risks which the charity faces other than in relation to the holding of the charity's listed investments and in order to lessen such risks the trustees have previously appointed Investment Managers who periodically review the investments held and report to the trustees with their recommendations in regard thereto.
Going Concern
There are no uncertainties about the charity's ability to continue as a going concern as indicated in note 12 of the Notes to the Financial Statements.
Statement of trustees' responsibilities
The trustees are responsible under the law applicable to charities in England and Wales and United Kingdom Accounting Standards including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice) for preparing a Trustees' Annual Report and financial statements for each financial year which give a true and fair view of the charity's income and expenditure during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
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a) select suitable accounting policies, as described in note 1 of the Notes to the Financial Statements, and apply them consistently;
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b) observe the methods and principles in the Charities SORP;
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c) make judgements and estimates that are reasonable and prudent;
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d) state whether applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
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e) prepare the financial statements on a going concern basis, unless it is inappropriate to presume that the charity will continue in operation, and on the accruals concept.
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THE LAUFFER FAMILY CHARITABLE TRUST
TRUSTEES' REPORT (continued)
Statement of trustees' responsibilities (continued)
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011; the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. The Trustees 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.
Amounts are presented within items in the Statement of Financial Activities and Balance Sheet in accordance with generally accepted accounting principles or practice, the trustees having had regard to the substance of the reported transaction or arrangement.
The trustees have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to guidance issued by the Charity Commissioners, including public benefit objectives. The activities undertaken for public benefit are as hereinbefore described.
Approved
This report was approved by the trustees on 6 December 2021 and signed on their behalf by:
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THE LAUFFER FAMILY CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LAUFFER FAMILY CHARITABLE TRUST
I report on the financial statements of the Charity for the year ended 31 March 2021, set out on pages 6 to 13.
Respective responsibilities of trustees and independent examiner
As described on pages 3 and 4, the charity's trustees are responsible for the preparation of the Trustees' Annual Report and financial statements. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The Charity has prepared "accruals basis" financial statements. I am qualified to undertake the independent examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. It is my responsibility to:-
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examine the financial statements (under Section 145 of the 2011 Act);
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to follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a "true and fair" view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect:-
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the accounting records were not kept in accordance with section 130 of the 2011 Act; or
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the financial statements did not accord with the accounting records; or
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the financial statements did not comply with the applicable requirements concerning the form in content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a "true and fair view" which is not considered part of an independent examination.
I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Use of this report
This report is made solely to the charity's trustees, as a body, in accordance with the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the independent examiner's statement.
� , \'L'f:1 ,h 5[th ] Floor, Charles House A MitcheffF".'Q� 108-110 Finchley Road Partner - Clayton Stark & Co. London NW3 5JJ Chartered Accountants
6 December 2021
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THE LAUFFER FAMILY CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Notes Income and Endowments Investment Income 2 Legacy Endowments Income Tax repayable Total Income Expenditure Expenditure on Charitable Activities :- Direct Charitable Expenditure - Grants 3 Support Costs (all Governance Costs) 4 TotalExpenditure on Charitable Activities Net (Outgoing) resources fr the lear Other Recognised Gains and Losses Gains on Listed Investments -Realised Gains/ (Losses) on Listed Investments - Unrealised Net Movement in Funds Unrestricted Funds balance brought frward at 1 April 2020 Unrestricted Funds balance carried frward at 31 March 2021 |
2021 General Fund 118,407 442 £11~~8,8~~4~~9~~ 367,408 60,294 £427,702 (308,853) 232,443 1002,713 926,303 3,969,067 £4,~~89~~5,370 2020 General Fund 158,344 171 £158,515 436,548 66,493 £503,041 (344,526) 6,223 (817,068) (1,155,371) 5,124,38 £3,969,067 |
|---|---|
There were no recognised gains or losses other than those as set out above.
All of the activities of the charity are classed as continuing.
The notes on pages 8 to 13 form part of these Financial Statements.
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THE LAUFFER FAMILY CHARITABLE TRUST
BALANCE SHEET AT 31 MARCH 2021
----- Start of picture text -----
Notes 2021 2020
Fixed Assets
Tangible Assets 5 5 7
Listed Investments 6 418931964 319641252
4,893,969 3,964,259
Current Assets
Debtors 7 442
Balances at Bank - Deposit Accounts 121779 131508
13,221 13,508
Less : Creditors : Amounts falling
due within one year 8 O L820) (8 1 700)
Net Current Assets 11401 41808
Net Assets £4,895.70 £3,969,067
Represented By:
Designated Funds - Fixed Assets 10 4,893,969 3,964,259
Unrestricted Funds - General Reserves 10 L401 4 1 808
Total Charity Funds £4,8952370 £3,962,067
----- End of picture text -----
The notes on pages 8 to 13 form part of these Financial Statements.
Approved by the Board of Trustees on 6 December 2021 .
. . bl .. l[\1/. ] . . RM Lauffer
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THE LAUFFER FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting Policies Charity Information
The Lauffer Family Charitable Trust is a charity registered with the Charity Commission for England and Wales. The charity's legal form and address is shown on page I of the Trustees' Report. The nature of the charity's operations and principal activities are shown on page 2 of the Trustees' Report.
Basis of Preparation
The charity is a Public Benefit Entity as defined by Financial Reporting Standard 102 (FRS 102).
The financial statements have been prepared under the historical cost convention as modified by the inclusion of investments at market value and in accordance with the Charities Act 2011, the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS 102) 2015 effective January 2015 as subsequently updated for reporting periods beginning on or after 1 January 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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 2005 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 on a going concern basis in accordance with note 12 of the Notes to the Financial Statements.
Income
All income is accounted for as receivable by the charity. There were no permanent endowments received in the year (2020 - NIL).
Expenditure on Charitable Activities
Support Costs are charged on an accruals basis.
Grants are charged in the year when paid; they comprise donations to third-party institutions in accordance with the charitable objects of the charity and its public benefit objectives.
Tangible fixed assets for use by the charity and depreciation
Tangible fixed assets for use by the charity are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost of an asset, less its estimated residual value, over the expected useful life of that asset, as follows :-
Computer equipment 25% Reducing Balance
Fixed Assets - Investments
Investments are stated at market value. Realised and unrealised gains and losses on investments are dealt with in the Statement of Financial Activities.
Funds Structure
Funds held by the charity are :-
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(i) Designated Funds - these are funds set aside by the trustees out of Unrestricted General Funds for a specific purpose or reason.
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(ii) Unrestricted General Funds - these are funds which are immediately available to be used in accordance with the charitable objects at the discretion of the trustees.
Taxation
The Lauffer Family Charitable Trust is a registered charity and is therefore exempt from Income Tax and Capital Gains Tax.
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THE LAUFFER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)
1. Accounting Policies (continued) Value Added Tax
Value Added Tax is not recoverable by the charity and, as such, is included in the relevant costs in the Statement of Financial Activities.
| 2. 3. Investment Income Income from Listed Investments (Dividends and Interest) Bank Interest Number of Grant in year ended 31/3/21 2021 Direct Charitable Ex)enditure - Grants Charitable Donations: British Friends of Midrash Shmuel Holocaust Educational Trust 1 1,000 Beit Halochem UK 1 1,500 British Friends of Shvut Ami 1 2,500 British Friends of Gesher Friends of Beis Yisroel Trust Jewish Leaing Exchange (JLE) 1 2,000 Arts Therapies for Children 1 1,000 Friends of Nachalas Bnei Shimon 1 6,000 Aspire BSD 2 2,000 University Jewish Chaplaincy Chai Cancer Care 2 1,500 Friends of Tifereth Shlomo 2 6,000 Chicken Soup Shelter 1 2,500 Maccabi London Brady Recreational Trust 1 2,500 Gesher Trust Maccabi GB 1 2,500 Chevras Mooz Lado! 2 11,000 Y ad Vashem UK Foundation 1 2,000 Jewish Association for the Mentally Ill (JAMD 1 1,000 American Jewish J DC Trust Halacha LeMoshe Trust 2 15,000 Agudath Israel of Long Island Central Square Minyan 2 1,760 UK Toremet Ltd 3 14,250 Yesamach Levav Trust 3 10,300 JW 3 Development 1 2,000 Achisomoch Aid Co. Ltd 10 28,600 Tomchei Y otzei Anglia 2 8,000 Friends of Yeshivat Shaarei Shumuos . 12,000 carried forward 4 136,910 |
2021 2020 118,359 158,157 � 358 ~~£1~~1~~8,07~~ £158,515 Number of Grant in year ended 31/3/20 2020 1 3,800 1 1,000 1 1,500 2 5,500 1 1,500 1 4,000 1 2,500 1 6,000 1 1,000 1 1,500 1 2,500 1 1,400 2 7,500 1 2,000 1 1,000 1 2,500 3 16,000 2 1,350 1 2,500 2 15,000 1 6,000 8 4,325 1 1,500 4 12,000 1 4,000 -- 41 107,875 |
|---|---|
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THE LAUFFER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)
| Number of Grants | Number of Grants | ||||
|---|---|---|---|---|---|
| in year | in year | ||||
| ended 31/3/21 | 2021 | ended 31/3/20 | 2020 | ||
| 3. | Direct Charitable Expenditure - Grants ( continued) | ||||
| brought forward | 44 |
136,910 | 41 | 107,875 | |
| United Talmudical Associates | 2 | 4,400 | |||
| Hendon Adath Yisroel Congregation | 2 | 5,000 | 1 | 2,500 | |
| United Synagogue | 3 | 5,803 | 5 | 7,639 | |
| Keren L'kiruv Yisroel | 1 | 5,000 | |||
| Grief Encounter | 1 | 8,000 | |||
| The Beth Yisroel Organisation | 2 | 12,000 | |||
| Mesila UK | 3 | 8,000 | 3 | 9,000 | |
| Beis Aharon Trust | 1 | 7,000 | 3 | 31,500 | |
| Kolle} Viznitz London | 1 | 15,000 | 1 | 12,000 | |
| Jewish Museum | 1 | 2,500 | |||
| Kisharon | 2 | 3,250 | 2 | 9,000 | |
| Jewish Child's Day | 1 | 1,000 | 1 | 1,000 | |
| British Friends of Herzog Hospital | 2 | 6,500 | |||
| Jewish Deaf Association | 2 | 10,000 | 1 | 17,000 | |
| Youth Aliyah Child Rescue | 2 | 2,200 | I | 2,500 | |
| Nightingale Hammerson | I | 1,150 | |||
| Step by Step | 1 | 5,000 | |||
| Jerusalem Foundation UK | I | 1,800 | 1,800 | ||
| Crisplamb | 1 | 1,500 | |||
| Bonei Olam | 1 | 1,000 | |||
| Lincoln College Development Fund | 1 | 3,750 | |||
| March of The Living | 1 | 5,000 | |||
| Tikva UK | 1 | 1,000 | 1 | 1,000 | |
| Congregation Bais Shalom | 1 | 6,000 | |||
| P' tach Israel | 1 | 1,500 | 1 | 1,500 | |
| Kol Yerushalayim Kolle! Trust | 1 | 2,000 | 1 | 2,000 | |
| Peninim Charity Trust | 2 | 6,000 | 1 | 6,000 | |
| Friends of Galanta | 2 | 10,000 | |||
| Friends of Aetres Moshe | 1 | 6,000 | |||
| Mercaz Hatorah Netzach Yisroel | 1 | 4,000 | 3 | 5,600 | |
| Friends of Yeshiva Torah Ohr | 1 | 2,400 | |||
| Ezra U'Marpeh | 1 | 2,000 | |||
| British Friends of Igud | |||||
| Hakolelim B 'Yerushalayim | 2 | 5,000 | I | 2,000 | |
| Leket UK | 2 | 1,700 | |||
| Hadassah UK | 1 | 2,500 | |||
| Y ad Eliezer Trust | 4 | 18,500 | 2 | 12,000 | |
| Laniado | 1 | 1,000 | |||
| British Emunah Fund | 1 | 1,200 | 1 | 1,200 | |
| Colle! Chibath Yerushalayim Ezer Mizion carried forward |
I - - 85 |
2,500 278,163 |
1 -- 90 |
2,000 1000 283,014 |
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THE LAUFFER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)
| Number of Grants | Number of Grants | Number of Grants |
Number of Grants |
Number of Grants |
||||
|---|---|---|---|---|---|---|---|---|
| in year | in year | |||||||
| ended 31/3/21 | 2021 | ended 31/3/20 | 2020 | |||||
| 3. | Direct Charitable Expenditure - Grants (continued) | |||||||
| brought forward | 85 |
278,163 | 90 | 283,014 | ||||
| Side by Side | 2 | 6,000 | 2 | 4,500 | ||||
| Guy's Trust | 2 | 1,200 | ||||||
| Jewish Interactive | 1 | 1,500 | 1 | 1,500 | ||||
| J Roots | 2 | 2,400 | ||||||
| Asser Bishvil Foundation | 3 | 6,200 | 3 | 6,500 | ||||
| Camp Simcha | 2 | 10,000 | ||||||
| Rimon Jewish Primary School | 1 | 4,500 | 5 | 19,950 | ||||
| Gertner Charitable Trust | I | 1,000 | ||||||
| Tchabe Kolle} Trust | 1 | 7,000 | ||||||
| Kehal Charedim Trust | 4 | 37,000 | 7 | 89,000 | ||||
| Norwood | 2 | 1,300 | 3 | 2,000 | ||||
| Prism the Gift Fund | 1 | 1,500 | 1 | 1,500 | ||||
| Zoological Society of London | I | 1,500 | I | 2,000 | ||||
| Community Security Trust | 1 | 2,000 | 2 | 1,650 | ||||
| Other (all below £1000) | 49 | 15,545 | 59 | 15,534 | ||||
| 155 | £367,08 | 17 | ~~£~~43~~6,~~54~~8~~ | |||||
| Note:- All grants were institutional grants for the purposes of: | ||||||||
| Education | 37 | 107,450 | 46 | 141,930 | ||||
| Religious Activities | 15 | 53,608 | 31 | 122,694 | ||||
| Environment | 5 | 1,149 | 6 | 1,030 | ||||
| Welfare and Care of Children and Families | 72 | 164,290 | 61 | 116,460 | ||||
| Medical Healthcare | 14 | 26,300 | 17 | 35,395 | ||||
| Recreation and Culture | 12 | 14,611 | 16 | 19,039 | ||||
| 155 | £367,08 | 17 | £436,548 | |||||
| 2021 | 2020 | |||||||
| **4. ** | Support costs (all Governance costs) in support of | |||||||
| Charitable Activities | ||||||||
| Consultancy Fees (see note 11) | 2,400 | 2,400 | ||||||
| Postage and Stationery | 74 | 59 | ||||||
| Investment Management Fees | 47,867 | 55,020 | ||||||
| Profssional Fees | ||||||||
| Bank Charges and Sundries | 831 | 41 | ||||||
| Accountancy (£6,960) and costs of Independent Examnation (£1,740) | 8,700 | 8,700 | ||||||
| Underprovision fr accountancy in previous year | 420 | 270 | ||||||
| Depreciation of Computer Equipment | 2 | 3 | ||||||
| £60,294 | £66,93 |
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THE LAUFFER FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)
5. Tangible Fixed Assets (for use by the charity)
| 6. | Computer Eguipment Cost At 1 April 2020 and 31 March 2021 Depreciation At 1 April 2020 Charge fr year At 31 March 2021 Net Book Value At 31 March 2021 At 31 March 2020 Fixed Assets - Investments Listed Investments Market Value at 1 April 2020 (Disposals) in year Acquisitions in year, at cost Net Unrealised Gains/ (Losses) Market Value at 31 March 2021 (as valued by Investment Managers) Historical cost and value when settled of Listed Investments Market Value as above The following investments comprised more than 5% of the total Listed Investments portfolio: 229,216 JPMorgan US Equity Income 14,800 Invesco Mkts i FSE Rafi All World Bank Deposits Proceeds of sale of listed investments held fr reinvestment Total Fixed Assets - Investments Market Value at 31 March 2021 ~~£298,669~~ £254,634 3.021 3,014 2 3,016 £1 £1 2021 3,922,567 (695,131) 640,638 1,002,713 £4~~,8~~70~~.~~7~~8~~7 £4,008,044 4,870,787 23,77 £4.893.964 2020 4,952,452 (758,407) 545,590 (817,068) £3,9221567 £4,190,812 3,922,567 41.685 £3.964.252 |
|---|---|
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' .
THE LAUFFER FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)
2021 2020
| 7. 8. |
Debtors Sundry Debtors Creditors:Amounts flling due within one year |
|---|---|
Accruals |
9. Staf Costs and Trustees' Remuneration There were no employees during the year (2020-Nil).
No remuneration was paid to trustees in the year (2020-Nil) and no expenses were reimbursed to trustees in the year (2020-Nil).
| 10. Unrestricted Funds Balance at 1 April 2020 Net Movement in Funds fr the year Transfer between Funds Balance at 31 March 2021 |
Designated Funds General Total Fixed Assets Reserves 3,969,067 3,964,259 4,808 926,303 926,303 929,710 (929,710) £4~~,895.~~3~~70~~ £4,893.969 £1.01 |
|---|---|
The Designated Fixed Assets Funds represents the Net Book Value of Fixed Assets and have been created as these represent funds not immediately available for charitable grants. Each year an amount is transferred to or from these funds which represents the movement in the Net Book Value of Fixed Assets in the year.
11. Related Party Transaction
During the year there were secretarial f s paid of £2,400 (2020 - £2,400) to Beth Lauffer who is the wife of one of the trustees, J S Lauffer.
12. Going Concern
The Trustees have assessed whether the going concern basis of preparation of the financial statements continues to be appropriate based upon whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. This assessment has been required in the light of the significant uncertainty around the short to medium term impact of the Coronavirus COVID-19 pandemic.
In the event of a significant future decline in the value of the charity's listed investments and/or its investment income thereon, this may result in a reduction in the level of charitable grants to institutions that the charity is normally able to make.
At the time of approving the financial statements the trustees believe that all appropriate measures will be taken to ensure that the charity will be able to continue its operations for a least the next twelve months and thus conclude that the going concern basis remains appropriate.
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