Page |
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|---|---|
Trustees’ annual report |
1 to4 |
Independent Examiner's Report |
5 |
Statementoffinancialactivities |
6 |
Balance sheet |
7 |
Notes to the accounts |
8 to 13 |
Investments |
14 to 44 |
Objectives and Grant |
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|---|---|
MakingPolicies: |
The termsof the trust require the trustees to make grants (which may be from |
capital or income)for “charitable objects or purposes”at the trustees’ absolute |
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discretion. The trustees have resolved to support charitable organisations |
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concerned with medicine, social care, education, disabled persons and homes |
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for the elderly and charities which benefit people of the Jewishfaith. |
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In July each yearthe trustees review previous donations and consider new |
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applications. They have a rolling programmeofvisits to the charities they support. |
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Donations are madeon an annualbasis, but the trustees do not make any |
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commitmentto provide support in future years. |
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Achievements and |
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performance: |
During the year ended 5 April 2021 the trustees metthe trust's objectives by |
making grants totalling £58,000 as shown on page 13. |
|
Financial review: |
Total income was £68,012 (2020: £88,883) with expenditure amounting to |
£85,041 (2020: £76,007). Net assets at the end of the year were £4,325,374 |
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(2020: £3,748,549). |
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Investment Powers and |
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Policy: |
The trustees have the powersof investment of beneficial owners and the |
governing document doesnot imposeanyrestrictions. |
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During the year the investmentpolicy was to generate the optimum incomefor |
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distribution whilst at the sametime investing for capital growth. In March 2009 |
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the trustees adopted a policy to grow the real value (above UK CPI)oftheir |
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investments while generating a reasonable level of income. They therefore |
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continue to pursuea total return policy. In September 2013 the trustees appointed |
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Coutts & Co Investment Management to managetheir investments on a |
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discretionary basis replacing their previous advisory contract. The managers |
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collect the income andreport to the trustees quarterly. The trustees consider these |
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reports and comment where necessary. During the year to 5 April 2021 the |
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trustees had two meetings with the managersto review the performanceof the |
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investments andto discuss strategyin the light of stockmarket conditions. |
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Public Benefit: |
The trustees have considered the Charity Commission’s guidance on public |
benefit issued in January 2008 and subsequently. In accordance with that |
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guidance, they review the activities of the organisations to which they |
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make donationsto satisfy themselves that those activities meet the principles |
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of public benefit laid down by the Commission. |
for the year ended 5 April 2021 |
|||||
|---|---|---|---|---|---|
Expendable |
Unrestricted |
2021 |
2020 |
||
Endowment |
Income |
Total |
Total |
||
Notes |
Funds |
Funds |
|||
£ |
£ |
£ |
£ |
||
Income and endowments from |
|||||
Investment income |
3 |
- |
68,012.15 |
68,012.15 |
88,883 |
Total income and endowments |
- |
68,012.15 |
68,012.15 |
88,883 |
|
Expenditure on |
|||||
Costs ofraising funds |
|||||
Investment managementcosts |
5 |
20,441.31 |
- |
20,441.31 |
20,144 |
Charitable activities |
4 |
- |
64,600.00 |
64,600.00 |
55,863 |
Total expenditure |
20,441.31 |
64,600.00 |
85,041.31 |
76,007 |
|
Net gains/(losses) on investments |
6 |
594,037.12 |
- |
594,037.12 |
(275,756) |
Net gain/(loss) on currency exchanges |
( 182.77) |
- |
( 182.77) |
901 |
|
593,854.35 |
- |
593,854.35 |
(274,855) |
||
Net Income/(expenditure) |
573,413.04 |
3,412.15 |
576,825.19 |
( 261,979) |
|
Net Movementin Funds |
573,413.04 |
3,412.15 |
576,825.19 |
(261,979) |
|
Reconciliation of funds |
|||||
Total funds brought forward |
3,343,192.57 |
405,356.37 |
3,748,548.94 |
4,010,528 |
|
Total funds carried forward |
3,916,605.61 |
408,768.52 |
4,325,374.13 |
3,748,549 |
Notes |
2021 |
2020 |
|||
|---|---|---|---|---|---|
Fixed assets |
|||||
Listed investments at market value (page 44) |
4,292,425.00 |
3,446,484 |
|||
Total fixed assets |
4,292,425.00 |
3,446,484 |
|||
Current assets |
|||||
Cashat bank and in handNet current assets |
32,949.13 |
32,049.13 |
302,065 |
302,065 |
|
Total net assets |
4,325,374.13 |
3,748,549 |
|||
The fundsofthe charity |
|||||
Expendable endowmentfunds |
3,916,605.61 |
3,343,193 |
|||
Unrestricted income funds |
408,768.52 |
405,356 |
|||
Total Funds |
4,325,374.13 |
3,748,549 |
3. |
Investment income |
2021 |
2020 |
|---|---|---|---|
£ |
£ |
||
Dividends |
67,910.94 |
88,034 |
|
Deposit interest |
101.21 |
849 |
|
68,012.15 |
88,883 |
||
4. |
Charitable activities |
2021 |
2019 |
£ |
£ |
||
Charitableactivities |
64,600.00 |
55,863 |
|
The breakdownofcharitableactivities is as follows: |
|||
2021 |
2020 |
||
£ |
£ |
||
Grants - see page 13 |
58,000.00 |
50,000 |
Governancecosts |
2021 |
2020 |
|---|---|---|
£ |
||
Unrestricted income funds |
||
Accountant's charges |
4,800.00 |
4,560 |
Independentexamination fees |
1,800.00 |
1,200 |
Bank charges |
: |
103 |
6,600.00 |
5,863 |
|
Total Charitable activities |
64,600.00 |
55,863 |
f raising funds |
2021 |
2020 |
£ |
ie |
|
Investment management charges |
20,441.31 |
20,144 |
asset investments |
2021 |
2020 |
|---|---|---|
£ |
£ |
|
Marketvalue at 5 April 2020 |
3,446,484.00 |
3,905,595 |
Additions |
3,243,658.59 |
2,435,110 |
Disposals |
( 2,991,754.71) |
(2,618,464) |
Net realised investment gains/(losses) |
332,137.59 |
30,647 |
Net unrealised investment gains/(losses) |
261,899.53 |
(306,404) |
Marketvalue at 5 April 2021 |
4,292,425.00 |
3,446,484 |
Historical cost at 5 April 2021 |
4,146,739 |
3,598,108 |
Fixed |
Net Current |
||||
|---|---|---|---|---|---|
Assets |
Assets |
Total |
|||
£ |
£ |
£ |
|||
Expendable |
Endowment |
Funds |
3,916,605.61 |
- |
3,916,605.61 |
Unrestricted |
Funds |
375,819.39 |
32,949.13 |
408,768.52 |
|
4,292,425.00 |
32,949.13 |
4,325,374.13 |
Expendable |
Unrestricted |
|||
|---|---|---|---|---|
Capital |
Income |
2020 |
||
Notes |
Funds |
Funds |
Total |
|
£ |
£ |
£ |
||
Income and endowments from |
||||
Investment income |
3 |
- |
88,883 |
88,883 |
Total income and endowments |
: |
88,883 |
88,883 |
|
Expenditure on |
||||
Costs of raising funds |
||||
Investment managementcosts |
5 |
20,144 |
- |
20,144 |
Charitable activities |
4 |
- |
55,863 |
55,863 |
Total expenditure |
20,144 |
55,863 |
76,007 |
|
Net gains/(losses) on investments |
6 |
( 275,756) |
- |
(275,756) |
Net gains/(losses) on currency exchanges |
901 |
- |
901 |
|
(274,855) |
- |
(274,855) |
||
Net Income/(expenditure) |
(294,999) |
33,020 |
(261,979) |
|
Net Movementin Funds |
(294,999) |
33,020 |
(261,979) |
|
Reconciliation of funds |
||||
Total funds brought forward |
3,638,192 |
372,336 |
4,010,528 |
|
Total funds carried forward |
3,343,193 |
405,356 |
3,748,549 |
. Charitable donations |
||
|---|---|---|
£ |
£ |
|
2021 |
2020 |
|
999 Group |
2,500.00 |
2,000.00 |
Action on Addiction |
2,000.00 |
= |
AnneFrankTrust |
1,000.00 |
1,000.00 |
British Friends of Rambah Medical Centre |
1,000.00 |
1,000.00 |
Farmsfor City Children |
2,000.00 |
2,000.00 |
Dreamstore |
- |
2,000.00 |
Integrated Neurological Services |
2,500.00 |
2,000.00 |
Irene Taylor Trust |
2,500.00 |
2,000.00 |
Jewish Association for the MentallyIII |
2,000.00 |
2,000.00 |
Jewish Blind and Disabled |
1,000.00 |
1,000.00 |
Jewish Care |
12,000.00 |
11,000.00 |
London Symphony Orchestra |
2,500.00 |
2,000.00 |
Medical Engineering Resource Unit |
2,000.00 |
2,000.00 |
Meningitis Research Foundation |
2,500.00 |
2,000.00 |
New Horizon Youth Centre |
3,500.00 |
3,000.00 |
Nightingale House |
2,500.00 |
2,000.00 |
Ocean Youth Trust South |
1,000.00 |
a |
Operation Wheelchairs Committee |
1,000.00 |
1,000.00 |
PALS |
2,000.00 |
2,000.00 |
QuakerSocial Action |
3,500.00 |
3,000.00 |
Revitalise |
2,000.00 |
2,000.00 |
Step 2 Recovery |
2,000.00 |
= |
The Brandon Centre |
3,000.00 |
3,000.00 |
Worshipful Companyof Barbers |
2,000.00 |
2,000.00 |