DosigN Envek)p8 ID.. C22058EB-95A4-4797-9462-5A24B8BE7507 THE DAVID AND RUTH BEHREND FUND UNAUDITED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 CHARITY NUMBER- 261567
DoSIgn Envel¢pe ID.. c22058EW95A447g7-9462-54B88E75O7 THE DAVID AND RUTH BEHREND FUND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2024 The Trustees present their annual report and financial statements of the charity for the year ended 31st March 2024. The financial statements have been prepared in accordance with Ihe accounting policies set out in note 1 to the financial statements and comply with the charity's trusl deed, 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 IFRS 1021 OBJECTIVES AND ACTIVITIES The Trust has been established lo make grants for charitable purposes. Grants are only made to charities known lo the settlor and unsoliciled applications are therefore not considered. Public Benefit In planning the Fund's grant making the trustees have considered the Charity Commission guidan on public benefit. Achievements and Performance Investments have been managed throughoLJt the year by the Investment Managers. with performan being monitored by the trustees. The Trust has therefore been able to maintain its level of grant-making. Financial Review Income lolalling £62.07512023= £117,030) was received during the year of which £62,075 {2023'. £57,030) was investrnent income. This funded grants of £93,95612023.' £97,183) 10 charitable organisations. Capital investments were valued at £1,820,72612023: £1,722,490) at the year erld. Investment Policy and Powers The trustees have the same full and unrestricted powers of investment in all respects as if il were the beneficial owner. The investment strategy is set by the trustees and takes account of recent demands for funds and an assessment of expected future needs {see Reserves Policy). The investment policy and strategy are reviewed with the investment managers at regular intervals. The investment objective is lo maintain. overall, the real value of capital and income. Risk Management The main risks to which the charity is exposed as identified by the trustees have been considered and systems have been established to mitigate those risks. Reserves Policy The trust deed permits the spending of capital., the trustees have, however, agreed to relain the capital for the lime being and to invest it to produce income to make grants. The trustees are managing the reserves lo balance the needs of current and future beneficiaries. It is not anticipated that the needs of beneficiaries will diminish over time.
Dosign Envek)pe ID.. C22058EB-95A44797-9462-SA24B8BE7507 THE DAVID AND RUTH BEHREND FUND TRUSTEES. REPORT FOR THE YEAR ENDED 31ST MARCH 2024 Plans for the Future The objectives remain unchanged for the future- the intention is for continued investment management on a consistent basis and distribution of income to charitable organisations. Structure, Governance and Management The Trust was established by a Trust Deed dated 17 September 1969 and is administered by its Gorporate Trustee, Liverpool Charity and Voluntary seIceS. Recruitment and appointment of new trustees The statutory power of appointing new trustees applies to the Trust Deed. The power of recruiting and appointing new trustees is vested with the existing trustees. Name Charity number Principal Office The David and Ruth Behrend Fund 261567 LCVS 151 Dale Street Liverpool L2 2AH A N Behrend M C Behrend Liverpool Charity and VolunlarySeNices ILCVS), a corporate trustee, which is incorporated under the Companies Act as a cornpany limited by guarantee without share capital as company number 18175g, a registered charity, number 223485, and a charitable Trust Corporation. LCVS trustees. who are also ils directors, were as follows during the year. Sonia Bassey MBE Mike Thomas Dorcas Akeju Sonia Bassey MBE Maxine Ennis Ken Perry John Price Michael Salla Louise Scholes Gemma Shone James Sloan Neil John Sturmey Mike Thomas Trustees Trustees LCVS Chair LCVS Treasurer Secretary Investment Manager Helen Rotheram (Appointed 9th May 2023) Evelyn Partners Second floor, Liver Building, Pier Head Liverpool L3 1 NY
Do¢uSiyn Envtsbp& ID." C22058EB-95A44797_9482.SA24B88E7507 THE DAVID AND RUTH BEHREND FUND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2024 TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees lo prepare financial statements for each year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required lo.. selecl suilable accounting policies and then apply them consistently., observe the methods and principles in the applicable Charities SORP. make judgements and estimates that are reasonable and prudent.. slate whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements., prepare the financial statemenls on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charilies Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraLJd and other irregularities. Signed on behalf of the Trustee, Liverpool Charity and Voluntary SeNices. DOE81nId ty. Mike Thomas - LCVS Trustee 18/06/2024 Dated:
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DAVID AND RUTH BEHREND FUND I report to the trustee on my examinalion of the accounts of The David and Ruth Behrend Fund I'the charity,) for the year to 31SI March 2024. which are set out on pages 6 to 14. Responsibilities and basis of report As the trustee of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the 2011 Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the appSicable Directions given by the Charity Commission under section 14515llbl of the 2011 Acl. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the mallers that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, l express no opinion as to whether the accounts present a 'lrue and fair view, and my report is limited to those specific matters sel out in the independent examiner's staterllent. Independent examiner's statement I have completed my exarnination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act., or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounls 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 mallers in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Paula Sanchez Name of applicable listed body.. Association of Chartered Certified Accountants Relevant professional qualification or body.. ACCA Date.. 28 June 2024
Docusign Envelope ID.. C22058EB-95A44797-9482-5A24B8BE7507 THE DAVID AND RUTH BEHREND FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 Unrestricted Funds Capital Funds 2024 Income Funds 2024 Total 2024 Total 2023 In¢ome from: Donations Investments Noles 60,000 57,030 2b 62,075 62,075 Total income 62,075 62.075 117,030 Expenditure on: Raising funds Charitable activities 4,981 4,981 97,310 4,903 100,284 97,310 Total expenditure 97,310 4.981 102,291 105,187 Net income (35,2351 (4,9811 {40,216) 11,843 Net gainsl{lossl on investment 103.217 103,217 {57,6811 Net movement in funds {35,2351 98,236 63,001 {45,838) Reconciliation of funds.. Total funds brought fonvard 96,362 1,722,490 1,818,852 1,864,690 Total funds carried forward 61,127 1,820,726 1,881,853 1,818,852 The notes on pages 8 to 14 fomi part of these accounts. The nel movement in the funds in the year is derived from the continuing activity of the charity.
Docusign Envebpe ID.. C22058EB-95A44797-9462-5A24B8BE7507 THE DAVID AND RUTH BEHREND FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 31st March 2024 31. March 2023 Fixed assets Notes Investments 1,820,726 1,722,490 Current assets Debtors Cash balances 64,481 99,463 64,481 99,463 Current liabilities Creditors 13,3541 13,1011 Net current assets 61,127 96,362 Net assets 1.881.853 1,818,852 The funds of the charity: Unrestricted funds Income funds Capital funds 61,127 1,820,726 96,362 1.722,490 1,881.853 1,818,852 Approved and authorised for issue by the Trustees and signed on their behalf by 'ty*.i¥Stofl914C-""" Mike Thomas - LCVS Trustee 18106/2024 Dated:
Do¢uSign Envelop$ ID. C22058EB-95A44797-9482-5A2488BE7507 THE DAVID AND RUTH BEHREND FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 1. ACCOUNTING POLICIES Basis of Accounting The accounts have been prepared under the historical cost convention with items recognised at cost or Iransaclion value unless otherwise stated in the relevant note(sl to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practi.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 ISORP 2019) effective from 1 January 2019 and Charities Act 2011. The trusl constitutes a public benefit entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Slalement of Cash Flows. Going concern At the lime of approving the accounts, the trustee has reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustee continues to adopt the going concern basis of accounting in preparing the accounts. Investments In accordance with Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2019), investments held as fixed assets are stated at fair value. Realised and unrealised gains and losses are dealt with as movements on the Capital Fund. Investments are valued al the mid-market price on the valuation dale. Fund accounting Unrestricted funds are considered 'free' reseNes and are available for use or retention at the discretion of the Trustees, in accordance with the charity's objectives. Free reserves are undesignaled funds available for the furtherance of the general objectives of the charity. Income recognition Income from investments comprises dividend income and interest and are accounted for when received in the financial year. Donations are recognised at the earlier of notification or date of receipt, in the case of the third-paty donations and legacy income when received by the organisation. Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation cornmitting the charity to that expenditure, it is probable that selllement will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual basis. All expenses, including support and governance costs, are allocated or apportioned to the applicable expenditure headings in the stalement of financial activities.
Do¢uSign Envelope ID.. C22058EB-95A44797-9462-5A248BBE7507 THE DAVID AND RUTH BEHREND FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Raising funds costs relate to expenses incurred in the management of the investment assets. Charitable activities include grant funding, along with associated support costs, to beneficiaries. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity. Governance costs relate to Complian with constitutional and statutory requirements and specifically include all costs incurred by the charity in producing the Annual Report. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid investments with original maturities of three months or less. and bank overdrafts. Financial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charity's balan sheet when the charity becomes party lo the contractual provisions of Ihe instrument. Financial assets and liabililies are offset, with the net amounls presented in the financial statements, when there is a legally enforceable right to sel off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 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 rale of interest. Fir)ancial assels classified as reTrivable within one year are not arllortised. Basic financial liabilities Basic financial liabilities, including creditors 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 receipts discounted al a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rale method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
Docusign EDvelopB ID". C22058EW95A44797-9462-5A24B8BE7507 THE DAVID AND RUTH BEHREND FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Taxation The charity benefits from various exemptions from taxation afforded by lax legislation and is not liable to corporation tax on income or gains falling within those exemptions. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT. 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 on-going 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. 2. Income and endowments from.. Income Funds 2024 Capital Funds 2024 Total Total 2024 2023 Donation and legacies Donations 60,000 b. Investments Investments dividends and interest 62.075 62.075 57,030 3. Expenditure on charitable activities: Direct Support& Total Total Charitable Governance 2024 2023 Expenditure Costs To make grants for charitable purposes. 96,025 1,285 97,310 100,284 io
Do¢uSlgn Envolop¢ ID." C22058EB.9SA44797_9462U24B8BE7507 THE DAVID AND RUTH BEHREND FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 ST Analysed as follows.. 2024 2023 Direct charitable expenditure.. Grant funding Grant making administration costs LCVS 93,956 97,183 2,069 1,901 96.025 99,084 2024 2023 Support & Governance costs." Administration - LCVS Independent examination 1,035 250 950 250 1,285 1,200 Total expenditure on charitable activities 97,310 100,284 li
DO$19M Envelope ID.. C22058EB-95A44797-9462-5A24B8BE7507 THE DAVID AND RUTH BEHREND FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 The following grants were made during the year: Grants of £1,000 and over Ariel Trust Ltd Birkenhead Youth Club British Refugee Council Charles Thompsons Mission Croxteth And Gillmoss Community Daisy Inclusive UK East Liverpool Riding for The Disabled Feeding Birkenhead Freedom From Torture KIND Knowsley Disability Concern LCVS Everyday Changes Fund Liverpool Arabic Centre Mango Tree Orphan Support Prog MICAH Merseyside Holiday Service North Liverpool Foodbank Osun Arts Foundation Personal Success 2,500 1,050 1,562 2,000 2,500 1,601 1,500 2,000 1,400 1.250 1,644 8,400 1,760 1,050 2.000 1,400 2,000 2,500 2,100 1,400 1,050 1,400 1,610 1,400 2,520 1,050 1,400 2,000 2.500 1,791 5,000 1,050 1,500 1,900 1,310 1,920 1,050 1.800 2,000 1,050 pss Refugee Action Salvation Army Sanctuary Family Support Save The Children Scrapyard Studios CIC Shaflesbury Youth Club Shelter South Liverpool Foodbank Split Perspectivz CIC Sl Andrew's Community Network St Elizabeth's PCC St Johns Hospi Wirral The Crossanl Of Inequalily CAF The Halle O'brien CIC The Hive Wirral Youth Zone The Positivitree Viking Centre & Youth Club Wigzee Woo CIC Wirral Foodbank World Mission 76,918 12
Docusign Envek)pe ID.. C22058EB-95A44797-9462ffjAE4B8BE7507 THE DAVID AND RUTH BEHREND FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Subtotal Olher grants 76,918 17,038 93,956 4. Fixed Asset Investments 2024 2023 Quoted Investments: Market value al 151 April 2023 Disposal proceeds Acquisitions al cost Realised gainslllossesl on investment assets Unrealised gainsl{losses) on investment assets {Decreasel/increase in cash held by Investrnenl Manager 1,722,490 (283,017) 283,017 703 1,786,011 {160,8211 149,857 87,351 {142,8311 102,514 14,9811 2,923 Market Value at 31st March 2024 1,820.726 1,722,490 Book Value at 31st March 2024 1,240,820 1,245,098 Fixed assel investments are managed by Evelyn Partners and are held in custodianship, in an account designated for clients, registered in the name of a nominee company lo the order of Pershing Securities Limited. At the 31, March 2024 the following investments were valued at more than 5 % of the total market value of the investments.. Legal and General US Index Trusl Stewart Investors Asia Pacific 31 Group 120,118 70,553 154,534 10.0 5. Debtors There were no debtors during ihe year end 31 sl March 202412023.. £nil} 6. Creditors 2024 2023 Administration LCVS Independent examination fee 3,104 250 2,851 250 3,354 3,101 13
Docusign Env8lopÈ ID." C22058Ee.9SA44797_9462_5A2488B&7507 THE DAVID AND RUTH BEHREND FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 7. Unrestricted Funds Income Fund.. Inveslment income and donations received for distribution as grants lo charitable voluntary organisations. Capital Fund.. Funds held provide income for the ongoing activities of the Irusl. 8. Related Party Transactions Charitable activities.. these include £2,06912023= £1,901) grant making administration costs payable to LCVS. Support and governan costs include £1,035 {2023.' £9501 total £3,104 12023.. £2,851) payable to LCVS in respect of accountancy and trust administration which is included in creditors at the year end. LCVS is related to the Trust by virtue of being the corporate trustees. 14