**REGISTERED CHARITY NUMBER: 270093** **Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024** **for** **B HAMMER CHARITABLE TRUST** Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH **B HAMMER CHARITABLE TRUST** **Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024** ||**Page**| |---|---| |**Report of the Trustees**|1 to 2| |**Independent Examiner's Report**|3| |**Statement of Financial Activities**|4| |**Balance Sheet**|5| |**Notes to the Financial Statements**|6 to 8| **B HAMMER CHARITABLE TRUST** ## **Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024** The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objectives of the charity and its principal activity is to support such charities or charitable purposes by providing assistance in the form of grants of money or any other such assistance as the trustees shall from time to time decide to be in the best interests of the charity and for wholly charitable purposes. ## **Public benefit** The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Company's aims and objectives and in planning future activities and setting the grant making policy for the year. The trustees identify institutions and organisations which meet its above criteria and regularly support a number of these institutions and organisations. ## **Grantmaking** Grants are made to charitable institutions and organisations after it has been satisfied that payments will accord with the objectives of the charity. ## **Volunteers** There were no volunteers during the year. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The results for the year and the financial position at the year end were considered satisfactory by the trustees. During the year the charity continued its philanthropic activities in support of religious, educational and other charitable institutions and the donations made were £42,650 (2023: £39,100). ## **Fundraising activities** Income arising on investments were considered reasonable and the trustees feel that the present level of income is sufficient to permit the charity to continue for the foreseeable future. A summary of the charity's transactions and of it's financial position is shown in the financial statements together with the accompanying notes. ## **Investment performance** The trustees are satisfied with the return on investments achieved during the year and feel confident that the charity has adequate reserves to fulfil its charitable obligations. ## **Internal and external factors** There are no specific factors to report. ## **FINANCIAL REVIEW** ## **Principal funding sources** The principal funding sources are income generated from the investment properties and interest on cash deposits. ## **Reserves policy** The balance sheet shows a satisfactory position with total unrestricted funds amounting to £2,177,382 (2023: £2,131,648). The charity aims to maintain reserves in order that it is in a position to continue its grant making activities at a consistent level and to cover contingencies of additional calls being made upon the charity for support of organisations or institutions in times of need. The present level of funding is adequate to support the continuation of the provision of assistance by the giving of grants or equipment in the short term, and the trustees consider the financial position of the charity to be satisfactory. Page 1 **B HAMMER CHARITABLE TRUST** ## **Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024** ## **FUTURE PLANS** The Trustees plan to continue to support charities and charitable purposes in accordance with their grant making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end. The trustees continue to monitor the economic environment and seek investment opportunities to increase the income of the charity. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 270093 ## **Principal address** 4 Ravenscroft Avenue London NW11 0RY ## **Trustees** Mr M Weissbraun Mr M W Itzinger Mr A Hammer ## **Independent Examiner** Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH Approved by order of the board of trustees on 9 January 2025 and signed on its behalf by: Mr A Hammer - Trustee Page 2 **Independent Examiner's Report to the Trustees of B Hammer Charitable Trust** ## **Independent examiner's report to the trustees of B Hammer Charitable Trust** I report to the charity trustees on my examination of the accounts of B Hammer Charitable Trust (the Trust) for the year ended 31 March 2024. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** 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 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. 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 Daniel Fine, DCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH 9 January 2025 Page 3 **B HAMMER CHARITABLE TRUST** ## **Statement of Financial Activities** ## **FOR THE YEAR ENDED 31 MARCH 2024** |Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
Charitable grants made
Charitable activities
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|2024
Unrestricted
fund
£
107,042
16,899
42,650
1,759
61,308
45,734
2,131,648
2,177,382|2023
Total
funds
£
68,421
12,550
39,100
(2,086)
49,564
18,857
2,112,791
2,131,648| |---|---|---| The notes form part of these financial statements Page 4 ## **B HAMMER CHARITABLE TRUST** ## **Balance Sheet** ## **31 MARCH 2024** |Notes
**FIXED ASSETS**
Investment property
6
**CURRENT ASSETS**
Debtors
7
Cash at bank
**CREDITORS**
Amounts falling due within one year
8
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds
**TOTAL FUNDS**|2024
Unrestricted
fund
£
800,000
4,507
1,373,415
1,377,922
(540)
1,377,382
2,177,382
2,177,382
2,177,382
2,177,382|2023
Total
funds
£
800,000
3,533
1,328,655
1,332,188
(540)
1,331,648
2,131,648
2,131,648
2,131,648
2,131,648| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 9 January 2025 and were signed on its behalf by: Mr A Hammer - Trustee The notes form part of these financial statements Page 5 **B HAMMER CHARITABLE TRUST** **Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Financial reporting standard 102 - reduced disclosure exemptions** The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirements of Section 7 Statement of Cash Flows. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Investment property** Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. INVESTMENT INCOME** |Rents received
Deposit account interest|2024
£
50,750
56,292
107,042|2023
£
46,540
21,881
68,421| |---|---|---| continued... Page 6 **B HAMMER CHARITABLE TRUST** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **3. RAISING FUNDS** ## **Investment management costs** |**Investment management costs**||| |---|---|---| |Rent collection
Property repairs
Service charges|2024
£
1,253
728
14,918
16,899|2023
£
1,284
701
10,565| |||12,550| ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **5. STAFF COSTS** There were no staff costs for the year ended 31 March 2024 nor for the year ended 31 March 2023 ## **6. INVESTMENT PROPERTY** |**FAIR VALUE**
At 1 April 2023
and 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income|2024
£
4,507|£
800,000|£
800,000| |---|---|---|---| |||800,000|| |||800,000|| ||||2023
£
3,533| continued... Page 7 **B HAMMER CHARITABLE TRUST** **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024** |**8.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |---|---|---|---| |||2024|2023| |||£|£| ||Other creditors|540|540| ## **9. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2024. Page 8