2021-12-31-accounts - The Charitable Fund Of The London Association Of Funeral Directors

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REGISTERED CHARITY NUMBER: 252498

`REPORT OF THE TRUSTEES AND`

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021

`FOR`

THE CHARITABLE FUND OF THE LONDON
ASSOCIATION OF FUNERAL DIRECTORS

Clemence Hoar Cummings
Chartered Accountants
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN

THE CHARITABLE FUND OF THE LONDON
ASSOCIATION OF FUNERAL DIRECTORS

`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021`

		`Page`
`Report of the Trustees`	`1`	`to`	`3`
`Independent Examiner's Report`		`4`
`Statement of Financial Activities`		`5`
`Balance Sheet`		`6`
`Notes to the Financial Statements`	`7`	`to`	`11`
`Detailed Statement of Financial Activities`		`12`

`THE CHARITABLE FUND OF THE LONDON ASSOCIATION OF FUNERAL DIRECTORS`

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021`

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31stDecember2021.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewith the
FinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1 January
2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

The objects for which the Charitable Fund was established are:

the relief, in any suitable manner, of poverty, in particular among persons and the spouses, children or other dependents of such persons who have engaged in the Disposal of the Dead, whether or not such persons are or were formerly members of the Association.
the promotion of education and in particular the education and tuition of persons seeking to study and be engaged in the Disposal of the Dead
the promotion of research into and the advancement of knowledge of methods of Disposal of the Dead and the dissemination of the results of the Research.

The Charitable Fund is active in Greater London and the Home Counties.

`Significant activities`

ThemainactivityoftheCharitableFundistheprovisionofeducationopportunitiesforthoseinvolvedin the
care and disposal of the Dead.

Thishasincludedtheestablishmentandoperationofaformaleducationcourse.Thecourseequips those
engagedinfuneralservicewiththeknowledgeandskillstocareforthedeceasedandtoguidethe bereaved
throughthelegalrequirementsandarrangementsfordisposalofthedeceased,includingadvising on
appropriate funeral rites and practices.

Othereducationopportunitiesareprovidedtomaintain,updateandenhancetheknowledgeandskills of
practitioners.

Socialrestrictions,inresponsetotheCovid19pandemic,hadcontinuedin2021.Havingdeveloped and
trialledanadaptedversionofthecourse,providingtutored,fullyinteractive,onlineseminars,itwas possible
tocontinuetomeetdemandforplaces.Threeiterationswereoperatedduringtheyear.Theonline delivery
modehasprovedpopularandwillbecontinued.Afurtherinnovation,inAutumn2021,wasa course
operatedwithtwocohortsofstudents,studyingeitheronlineorinatraditionalclassroomsetting. This
development will provide future students with options to meet their preference of learning style.

Videoconferencingplatformsalsowereusedtodeliverlecturesonmattersofgeneralinteresttothe funeral
sector,providingacost-effectivemethodofengagement.Aspositivefeedbackwasreceived, similar
opportunities will be offered in future.

Abenefitoftheenforcedinnovationindeliveryofeducationhasbeentheopportunityforimproved access
and the capacity to respond to the continuing geographically diverse demand for places.

Page 1

`THE CHARITABLE FUND OF THE LONDON ASSOCIATION OF FUNERAL DIRECTORS`

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021`

`FINANCIAL REVIEW`

`Financial position`

TheTrusteesandmanagersintentionistoretainfundstoenabletheCharitableFundtomeet liabilities,
incurred from its activities, as they fall due.

The Charitable Fund benefits from returns on some long-held, small investments, gifted by the Association.

Theeducationprovisionhasthecapacitytogeneratesomesurplus,whichisretainedtosupport the
CharitableFund'sactivities.Despiteongoingchallengeswithrisingcosts,Trusteesandmanagers will
continuetomanageincomeandcostsofeducationevents,withtheaimofgrowingresourcetofurther the
Charitable Fund's objects.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

TheCharitableFundoftheLondonAssociationofFuneralDirectors(the"CharitableFund")was established
byordinaryresolutionofthemembersoftheLondonAssociationofFuneralDirectors("theAssociation") in
GeneralMeetingon26thFebruary1944.TheAssociationisatradeassociationofFuneralDirectors and
others engaged in funeral service.

TheCharitableFundoperatesinaccordancewiththeprovisionsofitsgoverningdocument,TheRulesof the
Charitable Fund ("Rules"); the prevailing Rules were adopted on 17th October 1968.

`Recruitment and appointment of new trustees`

InaccordancewiththeRules,theOfficersandMembersoftheAssociation'sExecutiveCommitteeare tasked
with providing management of the Charitable Fund, including the appointment of Trustees.

TheRulesrequirethatTrusteesareservingorpastOfficersorMembersoftheAssociation's Executive
Committee.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Charity number`

`Principal address`

C/o The Secretary
London Association of Funeral Directors
8 Cross Meadow
Chesham
Buckinghamshire

`Trustees`

AllTrusteesinofficeatthedateofapprovaloftheFinancialStatementshadservedthroughoutthe financial
period.

The Trustees are:
Claire Austin
John Lodge
Simon Truelove

No other had served during the period.

None received any remuneration for service as a Trustee, nor any reimbursement of expenses.

Page 2

`THE CHARITABLE FUND OF THE LONDON ASSOCIATION OF FUNERAL DIRECTORS`

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021`

`REFERENCE AND ADMINISTRATIVE DETAILS`

Independent Examiner
David Belbin BSc FCA DChA
Clemence Hoar Cummings
Chartered Accountants
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 18th May 2022

S. Truelove

.........................................................
Trustee

Page 3

`INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHARITABLE FUND OF THE LONDON ASSOCIATION OF FUNERAL DIRECTORS`

`Independent examiner's report to the trustees of The Charitable Fund of the London Association of Funeral Directors`

IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheCharitableFundofthe London
Association of Funeral Directors (the Trust) for the year ended 31st December 2021.

`Responsibilities and basis of report`

AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').

IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheActand in
carryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommission under
section 145(5)(b) of the Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention 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 Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts 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.

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.

David Belbin BSc FCA DChA
Clemence Hoar Cummings
Chartered Accountants
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN

Date: ............................................. 18th May 2022

Page 4

THE CHARITABLE FUND OF THE LONDON
ASSOCIATION OF FUNERAL DIRECTORS

`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021`

2021
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Charitable activities
26,705
Investment income
2
511
Total
27,216
EXPENDITURE ON
Charitable activities
Charity activity
21,628
Other
830
Total
22,458
Net gains on investments
636
NET INCOME/(EXPENDITURE)
5,394
RECONCILIATION OF FUNDS
Total funds brought forward
41,651
TOTAL FUNDS CARRIED FORWARD
47,045 2020
Total
funds
£
8,323
533
8,856
10,415
830
11,245
662
(1,727)
43,378
41,651

The notes form part of these financial statements

Page 5

`THE CHARITABLE FUND OF THE LONDON ASSOCIATION OF FUNERAL DIRECTORS`

`BALANCE SHEET 31ST DECEMBER 2021`

2021
Unrestricted
fund
Notes
£
FIXED ASSETS
Investments
5
19,195
CURRENT ASSETS
Debtors
6
6,145
Cash at bank
29,796
35,941
CREDITORS
Amounts falling due within one year
7
(8,091)
NET CURRENT ASSETS
27,850
TOTAL ASSETS LESS CURRENT
LIABILITIES
47,045
NET ASSETS
47,045
FUNDS
8
Unrestricted funds
47,045
TOTAL FUNDS
47,045
The
financial
statements
were
approved
by
the
Board
of
Trustees
and
authorised
for
............................................. and were signed on its behalf by:
18th May 2022 2020
Total
funds
£
18,560
6,145
19,054
25,199
(2,108)
23,091
41,651
41,651
41,651
41,651
issue
on

S. Truelove ............................................. Trustee

The notes form part of these financial statements

Page 6

THE CHARITABLE FUND OF THE LONDON
ASSOCIATION OF FUNERAL DIRECTORS

`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021`

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102) (effective
1January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicable in
theUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshave been
preparedunderthehistoricalcostconvention,withtheexceptionofinvestmentswhichareincluded at
market value, as modified by the revaluation of certain assets.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.

`Taxation`

The charity is exempt from tax on its charitable activities.

`Fund accounting`

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

continued...

Page 7

THE CHARITABLE FUND OF THE LONDON
ASSOCIATION OF FUNERAL DIRECTORS

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021`

`2. INVESTMENT INCOME`

`INVESTMENT INCOME`
	`2021`	`2020`
	`£`	`£`
`Deposit account interest`	`511`	`533`

`3. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31stDecember2021 nor
for the year ended 31st December 2020.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31stDecember2021norforthe year
ended 31st December 2020.

`4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

	`Unrestricted`
	`fund`
	`£`
`INCOME AND ENDOWMENTS FROM`
`Charitable activities`	`8,323`
`Investment income`	`533`
`Total`	`8,856`
`EXPENDITURE ON`
`Charitable activities`
`Charity activity`	`10,415`
`Other`	`830`
`Total`	`11,245`
`Net gains on investments`	`662`
`NET INCOME/(EXPENDITURE)`	`(1,727)`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`	`43,378`
`TOTAL FUNDS CARRIED FORWARD`	`41,651`

continued...

Page 8

THE CHARITABLE FUND OF THE LONDON
ASSOCIATION OF FUNERAL DIRECTORS

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021`

`5. FIXED ASSET INVESTMENTS`

`FIXED ASSET INVESTMENTS`
	`Unlisted`
	`investments`
	`£`
`MARKET VALUE`
`At 1st January 2021`	`18,560`
`Revaluations`	`635`
`At 31st December 2021`	`19,195`
`NET BOOK VALUE`
`At 31st December 2021`	`19,195`
`At 31st December 2020`	`18,560`

There were no investment assets outside the UK.

FixedAssetInvestmentsheldinCOIFfundsarevaluedatthemidmarketvalueattheyearend. Any
change in market value is shown in the Statement of Financial Activities.

`6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`Other debtors` `CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Trade creditors` `Other creditors` `MOVEMENT IN FUNDS` `At 1.1.21` `£` `Unrestricted funds` `General fund` `41,651` `TOTAL FUNDS` `41,651`	`2021` `£` `6,145` `2021` `£` `-` `8,091` `8,091` `Net` `movement` `in funds` `£` `5,394` `5,394`	`2020` `£` `6,145` `2020` `£` `1` `2,107` `2,108` `At` `31.12.21` `£` `47,045`	`2020` `£` `6,145`
			`2020` `£` `1` `2,107`
			`2,108`
		`47,045`

`7.`

`8. MOVEMENT IN FUNDS`

continued...

Page 9

THE CHARITABLE FUND OF THE LONDON
ASSOCIATION OF FUNERAL DIRECTORS

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021`

`8. MOVEMENT IN FUNDS - continued`

Net movement in funds, included in the above are as follows:

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`Incoming` `resources` `£` `27,216` `27,216`	`Resources` `expended` `£` `(22,458)` `(22,458)`	`Gains and` `Movement` `losses` `in funds` `£` `£` `636` `5,394` `636` `5,394`	`Gains and` `Movement` `losses` `in funds` `£` `£` `636` `5,394` `636` `5,394`
				`5,394`

`Comparatives for movement in funds`

		`Net`
		`movement`	`At`
	`At 1.1.20`	`in funds`	`31.12.20`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`43,378`	`(1,727)`	`41,651`
`TOTAL FUNDS`	`43,378`	`(1,727)`	`41,651`

Comparative net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Gains and`	`Movement`
	`resources`	`expended`	`losses`	`in funds`
	`£`	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`8,856`	`(11,245)`	`662`	`(1,727)`
`TOTAL FUNDS`	`8,856`	`(11,245)`	`662`	`(1,727)`

A current year 12 months and prior year 12 months combined position is as follows:

		`Net`
		`movement`	`At`
	`At 1.1.20`	`in funds`	`31.12.21`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`43,378`	`3,667`	`47,045`
`TOTAL FUNDS`	`43,378`	`3,667`	`47,045`

continued...

Page 10

THE CHARITABLE FUND OF THE LONDON
ASSOCIATION OF FUNERAL DIRECTORS

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021`

`8. MOVEMENT IN FUNDS - continued`

Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedin the
above are as follows:

	`Incoming`	`Resources`	`Gains and`	`Movement`
	`resources`	`expended`	`losses`	`in funds`
	`£`	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`36,072`	`(33,703)`	`1,298`	`3,667`
`TOTAL FUNDS`	`36,072`	`(33,703)`	`1,298`	`3,667`

`9. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31st December 2021.

Page 11

THE CHARITABLE FUND OF THE LONDON
ASSOCIATION OF FUNERAL DIRECTORS

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021`

	`2021`	`2020`
	`£`	`£`
`INCOME AND ENDOWMENTS`
`Charitable activities`
`Course fees`	`26,705`	`8,323`
`Investment income`
`Deposit account interest`	`511`	`533`
`Total incoming resources`	`27,216`	`8,856`
`EXPENDITURE`
`Charitable activities`
`Course expenses`	`21,151`	`10,115`
`Student Awards`	`-`	`300`
	`21,151`	`10,415`
`Support costs`
`Finance`
`Bank charges`	`12`	`-`
`Independent examiner's fee`	`830`	`830`
	`842`	`830`
`Other`
`Sundries`	`40`	`-`
`Other 2`
`Administrators costs`	`425`	`-`
`Total resources expended`	`22,458`	`11,245`
`Net income/(expenditure)`	`4,758`	`(2,389)`

This page does not form part of the statutory financial statements

Page 12