**CHARITY REGISTRATION NUMBER: 253194**
# **C S Kaufman Charitable Trust Unaudited Financial Statements**
## **5 April 2022**
## **HAFFNER HOFF LTD**
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
## **C S Kaufman Charitable Trust**
## **Financial Statements**
## **Year ended 5 April 2022**
||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Independent examiner's report to the trustees|**6**|
|Statement of financial activities|**7**|
|Statement of financial position|**8**|
|Notes to the financial statements|**9**|
## **C S Kaufman Charitable Trust**
## **Trustees' Annual Report**
## **Year ended 5 April 2022**
The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2022.
**Reference and administrative details Registered charity name** C S Kaufman Charitable Trust **Charity registration number** 253194 **Principal office** 50 Keswick Street Gateshead Tyne & Wear NE8 1TQ **The trustees** Mrs L Kaufman S Kaufman J J Kaufman C J A Kaufman **Independent examiner** Mr D Schwarz FCCA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
**- 1 -**
## **C S Kaufman Charitable Trust**
**Trustees' Annual Report** _**(continued)**_
## **Year ended 5 April 2022**
## **Structure, governance and management**
C S Kaufman Charitable Trust is constituted under a trust deed dated 17 July 1967. It is a registered charity with a charity number being 253194.
Recruitment and appointment of new trustees would be in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
There is no chief executive officer. The day-to-day affairs are undertaken by the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.
There are no policies for the induction or training of new trustees.
## **Risk review**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.
The risks faced by the trust are principally operational risks from ineffective grant making. These risks are managed by the trustees researching potential beneficiaries before granting donations.
Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all grants.
**- 2 -**
## **C S Kaufman Charitable Trust**
**Trustees' Annual Report** _**(continued)**_
## **Year ended 5 April 2022**
## **Objectives and activities**
The objects of the charity are:
To apply the income and also so much of the capital as the settlor may determine to such charities or for such charitable purposes as the trustees may determine.
## **Public benefit**
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.
## **Grant making policy**
The charity is funded by donations and income from investments and gives out grants in line with the above objects. Grants made during the year to institutions are as detailed in the accounts. The application of the funds is by way of grants to either institutions or individuals and is almost always to institutions.
The Trustees receive many grant applications. They primarily support charities, organisations or individuals in the following areas: advancement of the Jewish Faith, advancement of the Jewish education and relief of poverty. In deciding who they support they consider the financial need and track record of the applicant.
There were no grants paid to individual during the year.
Grants made during the year to institutions are as detailed in the accounts.
The application of the funds by way of grants to either institutions or individuals and is almost always to institutions.
The trustees consider they have met the public benefit test and outline these achievements below.
The trustees measure the success of achieving the stated aims by the number and value of grants paid out for each object. The grants paid out in the year are detailed in the notes to the accounts and the trustees consider they have met their aims successfully this year.
The trustees consider the shorter term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.
**- 3 -**
## **C S Kaufman Charitable Trust**
**Trustees' Annual Report** _**(continued)**_
## **Year ended 5 April 2022**
## **Achievements and performance**
The charity received £232,230 in donations during the year and paid out £231,753 by way of grants and support costs. These grants were made in line with the stated objects of the charity.
The charity has investment income receivable from investment property for the year amounting to £163,765.
The charity incurred support and governance costs comprising bank charges, bank interest, professional fees and small office costs.
All other office costs are borne by the trustees.
Grants over £1,000 made during the year to institutions are as detailed in the accounts.
There were no material fundraising costs during the year.
Related party transactions in the reporting period are as disclosed in the notes to the accounts.
There was net income and net movement in funds for the year amounting to £164,242.
## **Financial review**
## **Investment performance**
The investments of the charity have provided a net return of 10% in the year.
The trustees consider this acceptable when compared with returns available on deposits in any of the banking institutions. The investment returns have been consistent for a number of years and are not at the expense of any exposure of loan to value covenants that would put these investments at risk.
## **Reserves policy**
The Unrestricted Fund represents the unrestricted funds arising from past operating results.
The Trustees are satisfied that the balance of the Fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.
In considering the limited financial obligations of the charity, the trustees have resolved to maintain a minimum reserve practical for donations which are seasonal.
The trustees have considered the market value of the investment property taking into account the loan to value of the properties as well as the nature and exposure of the syndicate properties. The trustees consider the holding value to be the fair value.
The trustees are delighted to have made valuable contributions to the community as a result of this income and hope to be able to do so for many years to come.
## **Coronavirus**
The charity has not been materially affected by the coronavirus.
The free reserves, represented by the net current assets of the charity stand at £67,890, all of which are unrestricted.
**- 4 -**
## **C S Kaufman Charitable Trust**
**Trustees' Annual Report** _**(continued)**_
## **Year ended 5 April 2022**
The trustees' annual report was approved on 17 November 2022 and signed on behalf of the board of trustees by:
**Mrs L Kaufman** Trustee
**- 5 -**
## **C S Kaufman Charitable Trust**
## **Independent Examiner's Report to the Trustees of C S Kaufman Charitable Trust**
## **Year ended 5 April 2022**
I report to the trustees on my examination of the financial statements of C S Kaufman Charitable Trust ('the charity') for the year ended 5 April 2022.
## **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 Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no material 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 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 accounts to be reached.
## **Mr D Schwarz FCCA**
Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
17 November 2022
**- 6 -**
## **C S Kaufman Charitable Trust**
## **Statement of Financial Activities**
## **Year ended 5 April 2022**
|||**2022**|**2022**|2021|
|---|---|---|---|---|
|||Unrestricted|||
|||funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|£|
|**Income and endowments**|||||
|Donations and legacies|**4**|232,230|232,230|–|
|Investment income|**5**|163,765|163,765|124,810|
|||--------------------------------|--------------------------------|--------------------------------|
|**Total income**||395,995|395,995|124,810|
|||================================|================================|================================|
|**Expenditure**|||||
|Expenditure on raising funds:|||||
|Investment management costs|**6**|–|–|1,502|
|Expenditure on charitable activities|**7,8**|231,753|231,753|124,835|
|||--------------------------------|--------------------------------|--------------------------------|
|**Total expenditure**||231,753|231,753|126,337|
|||================================|================================|================================|
|||--------------------------------|--------------------------------|--------------------------------|
|**Net income/(expenditure) and net movement in funds**||164,242|164,242|(1,527)|
|||================================|================================|================================|
|**Reconciliation of funds**|||||
|Total funds brought forward||1,508,011|1,508,011|1,509,538|
|||-----------------------------------------|-----------------------------------------|-----------------------------------------|
|**Total funds carried forward**||1,672,253|1,672,253|1,508,011|
|||=========================================|=========================================|=========================================|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
**The notes on pages 9 to 16 form part of these financial statements.**
**- 7 -**
## **C S Kaufman Charitable Trust**
## **Statement of Financial Position**
## **5 April 2022**
|||**2022**|2021|
|---|---|---|---|
||**Note**|**£**|£|
|**Fixed assets**||||
|Investments|**14**|1,604,363|1,424,363|
|**Current assets**||||
|Debtors|**15**|6,250|3,000|
|Cash at bank and in hand||61,640|80,648|
|||----------------------------|----------------------------|
|||67,890|83,648|
|||----------------------------|----------------------------|
|**Net current assets**||67,890|83,648|
|||-----------------------------------------|-----------------------------------------|
|**Total assets less current liabilities**||1,672,253|1,508,011|
|||=========================================|=========================================|
|**Funds of the charity**||||
|Unrestricted funds||1,672,253|1,508,011|
|||-----------------------------------------|-----------------------------------------|
|**Total charity funds**|**16**|1,672,253|1,508,011|
|||=========================================|=========================================|
These financial statements were approved by the board of trustees and authorised for issue on 17 November 2022, and are signed on behalf of the board by:
**Mrs L Kaufman** Trustee
**The notes on pages 9 to 16 form part of these financial statements.**
**- 8 -**
## **C S Kaufman Charitable Trust**
## **Notes to the Financial Statements**
## **Year ended 5 April 2022**
## **1. General information**
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 50 Keswick Street, Gateshead, Tyne & Wear, NE8 1TQ.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amount reported.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
**- 9 -**
**C S Kaufman Charitable Trust**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 5 April 2022**
## **3. Accounting policies** _**(continued)**_
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- legacy income is recognised when receipt is probable and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Investments**
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
**- 10 -**
**C S Kaufman Charitable Trust**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 5 April 2022**
## **3. Accounting policies** _**(continued)**_
## **Investment property**
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
## **Investments in associates**
Investments in associates accounted for in accordance with the cost model are recorded at cost
less any accumulated impairment losses.
Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
## **Investments in joint ventures**
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
## **Impairment of fixed assets**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
**- 11 -**
**C S Kaufman Charitable Trust**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 5 April 2022**
## **3. Accounting policies** _**(continued)**_
## **Impairment of fixed assets** _**(continued)**_
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
## **Financial instruments**
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
**- 12 -**
## **C S Kaufman Charitable Trust**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 5 April 2022**
|**4.**|**Donations and legacies**|||||
|---|---|---|---|---|---|
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||**Donations**|||||
||Donations|232,230|232,230|–|–|
|||================================|================================|==============|==============|
|**5.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||Income from investment properties|163,765|163,765|124,810|124,810|
|||================================|================================|================================|================================|
|**6.**|**Investment management costs**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||Property repairs and maintenance|||||
||charges|–|–|1,502|1,502|
|||==============|==============|=======================|=======================|
|**7.**|**Expenditure on charitable activities**|**by fund type**||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||Charitable Grants|229,082|229,082|123,855|123,855|
||Support costs|2,671|2,671|980|980|
|||--------------------------------|--------------------------------|--------------------------------|--------------------------------|
|||231,753|231,753|124,835|124,835|
|||================================|================================|================================|================================|
|**8.**|**Expenditure on charitable activities**|**by activity type**||||
|||Grant funding|Support|**Total funds**|Total fund|
|||of activities|costs|**2022**|2021|
|||£|£|**£**|£|
||Charitable Grants|229,082|331|229,413|123,965|
||Governance costs|–|2,340|2,340|870|
|||--------------------------------|-----------------------|--------------------------------|--------------------------------|
|||229,082|2,671|231,753|124,835|
|||================================|=======================|================================|================================|
**- 13 -**
## **C S Kaufman Charitable Trust**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 5 April 2022**
## **9. Analysis of support costs**
|||Analysis of|||
|---|---|---|---|---|
|||support costs|||
|||activity 1|**Total 2022**|Total 2021|
|||£|**£**|£|
||General office|331|331|110|
||Governance costs|2,340|2,340|870|
|||-----------------------|-----------------------|--------------|
|||2,671|2,671|980|
|||=======================|=======================|==============|
|**10.**|**Analysis of grants**||||
||||**2022**|2021|
||||**£**|£|
||**Grants to institutions**||||
||Friends Of Beis Chinuch Lebonos||15,000|–|
||Friends of Beis Soroh Schenirer||25,000|12,000|
||Grants under £1,000||3,582|1,855|
||Keren Chochmas Shloime||25,000|–|
||Keren Gemilas Chasodim||60,000|25,000|
||Keren Gemilas Chesed Fund||–|25,000|
||Keren Hatzolas Doros||–|15,000|
||MD & S Charitable Trust||–|20,000|
||Merkaz Hatorah Belz Machnovka||30,000|–|
||Mifal Hachesed Vehatzdoko||25,000|–|
||Nitei Orah||–|4,000|
||One Heart Lev Echod||20,500|–|
||Shir Chesed Beis Yisroel||25,000|10,000|
||Zera Yehuda||–|11,000|
||||--------------------------------|--------------------------------|
||||229,082|123,855|
||||--------------------------------|--------------------------------|
||Total grants||229,082|123,855|
||||================================|================================|
|**11.**|**Independent examination fees**||||
||||**2022**|2021|
||||**£**|£|
||Fees payable to the independent examiner for:||||
||Independent examination of the financial statements||960|1,020|
||||==============|=======================|
## **12. Staff costs**
The average head count of employees during the year was Nil (2021: Nil).
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
## **13. Trustee remuneration and expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
**- 14 -**
## **C S Kaufman Charitable Trust**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 5 April 2022**
## **14. Investments**
||**Investment**|
|---|---|
||**properties**|
||**£**|
|**Cost or valuation**||
|At 6 April 2021|1,424,363|
|Additions|180,000|
||-----------------------------------------|
|**At 5 April 2022**|1,604,363|
||=========================================|
|**Impairment**||
|**At 6 April 2021 and 5 April 2022**||
|**Carrying amount**||
|**At 5 April 2022**|1,604,363|
||=========================================|
|At 5 April 2021|1,424,363|
||=========================================|
All investments shown above are held at valuation.
## **Investment properties**
Investment properties above represent investments in UK investment property comprising various investment properties in the UK that the charity owns outright. Valuation of the UK investment property is current market value which is fair value in the opinion of the trustees.
## **15. Debtors**
||**2022**|2021|
|---|---|---|
||**£**|£|
|Other debtors|6,250|3,000|
||=======================|=======================|
## **16. Analysis of charitable funds**
**Unrestricted funds**
|**Unrestricted funds**||||||
|---|---|---|---|---|---|
|||At|||**At**|
||6|April 2021|Income|Expenditure|**5 April 2022**|
|||£|£|£|£|
|General funds||1,508,011|395,995|(231,753)|
1,672,253|
|||=========================================|================================|================================|=========================================|
|||At|||At|
||6|April 2020|Income|Expenditure|5 April 2021|
|||£|£|£|£|
|General funds||1,509,538|124,810|(126,337)|
1,508,011|
|||=========================================|================================|================================|=========================================|
**- 15 -**
## **C S Kaufman Charitable Trust**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 5 April 2022**
## **17. Analysis of net assets between funds**
||Unrestricted|**Total Funds**|
|---|---|---|
||Funds|**2022**|
||£|**£**|
|Investments|1,604,363|1,604,363|
|Current assets|67,890|67,890|
||-----------------------------------------|-----------------------------------------|
|**Net assets**|1,672,253|1,672,253|
||=========================================|=========================================|
||Unrestricted|Total Funds|
||Funds|2021|
||£|£|
|Investments|1,424,363|1,424,363|
|Current assets|83,648|83,648|
||-----------------------------------------|-----------------------------------------|
|**Net assets**|1,508,011|1,508,011|
||=========================================|=========================================|
## **18. Related parties**
Mrs L L Kaufman is a trustee of C S Kaufman Charitable Trust. During the year she donated £26,660, and £60,000 worth of an investment property to the charity.
## **19. Taxation**
C S Kaufman Charitable Trust is a registered charity and therefore is not liable to income tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
**- 16 -**