JACK LIVINGSTONE CHARITABLE TRUST REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024
CHARITY NUMBER : 263473
JACK LIVINGSTONE CHARITABLE TRUST
| CONTENTS | PAGE |
|---|---|
| Annual Report | 1 |
| Independent examiner's report | 2 |
| Statement of Financial activities | 3 |
| Balance sheet | 4 |
| Notes to the accounts | 5 - 9 |
JACK LIVINGSTONE CHARITABLE TRUST ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024
The trustees present their annual report and accounts for the year ended 5 April 2024.
CONSTITUTION
The Jack Livingstone Charitable Trust is constituted by Deed of trust and is a registered charity No. 263473. Its address is Apsley Cottage, Vale Road, Bowdon, Altrincham, WA14 3AF. The charity's trustees during the year to 5 April 2024 were Mrs J V Livingstone, Mr T Livingstone and Mr B White.
OBJECTS OF THE CHARITY
The object of the charity is to utilise investment income in making donations to other charitable organisations.
RESERVES POLICY
The trustees are committed to ensuring that sufficient reserves are maintained by the charity to cover operational costs and to achieve charitable objectives. The trustees will continue to monitor reserve levels.
REVIEW OF DEVELOPMENTS
During the year the charity received £58390 (2023: £61412) of investment income. The Trust made donations of £167950 (2023 £190230) to various charitable organisations, as detailed in note 2 to the accounts. After governance costs, the net outgoing resource expended of £126,437 were transferred to the Income fund.
RESPONSIBILITIES OF THE TRUSTEES
The Charities Act requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the end of the year and of the incoming and outgoing resources for the year then ended.
In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently, making judgments and estimates that are reasonable and prudent. The Trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its activities.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable then to ensure that the financial statements comply with the Charities Act 2011. 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.
Approved on behalf of the board of trustees
Mrs J V Livingstone
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JACK LIVINGSTONE CHARITABLE TRUST
Independent Examiner's Report to the Trustees of Jack Livingstone Charitable Trust.
I report on the accounts of the Jack Livingstone Charitable Trust for the year ended 5th April 2024, which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
This report is made solely to the Charity's Trustees, as a body, in accordance with s.145 of the Charities Act 2011. My examination 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 examination, for this report, or for the opinions I have formed.
Respective responsibilities of Trustees and examiner.
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider an audit is not required for this year under section 145(5)b of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts (under section 145(5)b of the 2011 Act);
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to follow the procedures laid down in he 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 a comparison of the accounts presented with those records. It also includes a consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
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 the requirements (1)
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to keep accounting records in accordance with section 130 of the 2011 Act, or
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- to prepare accounts which accord with the accounting records and comply with the requirements of the 2011 Act have not been met, or
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the accounts did 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
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs E Smalley Eks Taxation 1 Park Place Walton le Dale Preston PR5 4HQ Date:
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JACK LIVINGSTONE CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024
| Note Incoming resources from generated funds: Investment income Loan stock interest Dividends Profit on foreign exchange Other income Total incoming resources Resources expended Charitable activities 2 Governance costs 3 Total resources expended Net(outgoing)/incoming resources before other recognised gains and losses Other recognised gains and losses Artwork realised loss Capital distribution Unrealised/Realised profit/(loss) on investments Net movement in funds Funds brought forward Funds carried forward |
2024 2023 £ £ 5,875 5,875 46,907 47,885 421 5,270 5,187 2,382 58,390 61,412 167,950 190,230 16,877 25,230 184,827 215,460 -126,437 -154,048 0 0 1,359 1,442 226,548 30,370 227,907 31,812 101,470 -122,236 2,021,672 2,143,908 2,123,142 2,021,672 Unrestricted Fund |
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All activities related to continuing operations.
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 5 to 9 form part of these accounts.
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JACK LIVINGSTONE CHARITABLE TRUST BALANCE SHEET 5 APRIL 2024
| Note FIXED ASSETS Investments 4 CURRENT ASSETS Debtors 5 Cash at bank/broker CREDITORS: Amount falling due within one year 6 Net current assets NET ASSETS FUNDS Capital/Income fund 7 Net movement in funds Funds brought forward Funds carried forward |
2024 2023 £ £ 1,966,974 1,859,799 11,678 11,678 152,910 158,616 164,588 170,294 -8,417 -8,417 156,171 161,877 2,123,145 2,021,676 2,021,674 2,021,674 2,021,674 2,021,674 101,470 -122,236 2,021,674 2,143,910 2,123,144 2,021,674 Unrestricted Fund |
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Approved and signed on behalf of the Board of Trustees on
Mrs J V Livingstone
The notes on pages 5 to 9 form part of these accounts.
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JACK LIVINGSTONE CHARITABLE TRUST BALANCE SHEET
5 APRIL 2024
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1 ACCOUNTING POLICIES
General
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
The Accounts have been prepared the statement of recommended practice, Accounters and reporting by charities preparing their accounts in accordance with the financial reporting standards applicable in the UK and republic of Ireland (FRS102) issued on the 16 July 2014 and with the financial Reporting standard application in the United Kingdom and Republic of Ireland.
Going Concern
The Accounts have been prepared on a going concern basis.
Accounting policies
There are no material changes in the accounts on adoption of FRS102 in respect of the accounts the following policies have been adopted.
Accounting convention
The financial statements are prepared under the historical cost convention, as modified by the revaluation of fixed asset investments.
Fund accounting
The charity maintains various categories of funds as follows:
Unrestricted funds
Income Account
Represents unrestricted income, which is expendable at the discretion of the trustees in the furtherance of the objects of the charity.
Capital Fund
Represents unrestricted investments to be used to generate income for the charity.
Incoming Reserves
All income is recognised in the Statement of Financial Activities when the conditions for the receipt have been met and there is reasonable assurance of receipt. The following accounting policy has been applied to income:
Investment Income
Investment income is accounted for when it is receivable.
Investments
The market value of listed investments is taken at the mid price stock exchange value at the balance sheet date. Unlisted Investments are valued at cost. Any unrealised and realised gains or losses on investments are taken to the Statement of Financial Activities.
Recourses expended
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Charitable activities
Direct charitable expenditure includes all expenditure directly related to the objects of the charity and comprises the following:
Charitable expenditure
Charitable expenditure comprises donations, which are accounted for at the point of approval by the trustees.
Governance costs
Governance costs relate to expenditure incurred in the management of the charity's assets, organisational administration and compliance with constitutional and statutory requirements.
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JACK LIVINGSTONE CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024
| 2. CHARITABLE ACTIVITIES DONATIONS The Jerusalem Foundation Community Security Trust United Jewish Isre South Mcr Synagogue Stockdales Southport New Synangogue The Lowry Centre Trust Jewish Leadership Council Royal Exchange Theatre Food Bank Aid Ohel Sarah UK Yad Vashem Friendship Circle Medequip Rachmistrivke Synagogue Trust Justifi UK Gives Federation Jewish Service Jbox Newark Care South Manchester Holocaust Survivors New Heritage Foundation Manchester Maccabi JW3 Development Northern Invention Better World Charity Mcr Jewish Museum Gateways Focus Foundation Balance of donations (less than £1,000) 3. GOVERNANCE COSTS Accountancy and compliance Investment management fees |
2024 2023 £ £ 50,000 100,000 15,000 10,000 2,500 2,500 5,000 6,000 1,000 1,000 2,500 5,000 5,000 1,800 2,000 1,000 1,000 5,000 2,500 5,000 2,500 5,000 1,000 1,000 7,500 7,500 2,000 1,500 10,000 10,000 1,000 1,000 1,000 2,000 1,500 5,000 5,000 2,500 10,000 2,500 5,000 10,000 10,000 25,000 3,450 1,430 167,950 190,230 2024 2023 £ £ 1,110 1,250 15,767 23,980 16,877 25,230 |
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JACK LIVINGSTONE CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024
| 4. FIXED ASSET INVESTMENTS Market Value At 6 April 2023 Acquisitions at cost Disposals Unrealised profit on revaluation At 5 April 2024 Cost At 5 April 2023 Acquisitions at cost Disposals At 5 April 2024 Total |
Quoted Securities £ 1,802,085 271,933 -391,306 226,548 1,909,260 Artwork £ 57,714 57,714 1,966,974 |
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JACK LIVINGSTONE CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024
| 5. DEBTORS Taxation recoverable Amounts due from Will Trust Loan - Mcr Jewish Philanthropic Trust 6. CREDITORS: amounts falling due within one year Interest overpaid Accruals Amounts owed to J Livingstone 7. FUNDS At 6 April 2023 Net resources expended for the year Capital distribution Unrealised/Realised profit/(loss) on investments At 5 April 2024 |
2024 2023 £ £ 1,180 1,180 498 498 10,000 10,000 11,678 11,678 2024 2023 £ £ 6,000 6,000 1,100 950 1,317 1,200 8,417 8,150 Capital/Income Fund Total £ £ 2,021,674 2,021,674 -126,437 -126,437 1,359 1,359 226,548 226,548 2,123,144 2,123,144 |
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