**Charity Registration Number: 270994** ## **EMANUEL VINCENT HARRIS TRUST** **Trustees Report and Financial Statements For the year ended 31 March 2024** EVHT Accounts 23/24 London Borough of Camden ## **EMANUEL VINCENT HARRIS TRUST ACCOUNTS** ## CONTENTS ||Page| |---|---| |Legal and Administrative Information|3| |Trustee’s Report|4| |Independent Examiners Report|6| |Statement of Financial Activities and notes|8| |Balance Sheet and notes|9| Author: Lesley Conway – Lesley.Conway@Camden.gov.uk 2 London Borough of Camden ## **EMANUEL VINCENT HARRIS TRUST** ## **Legal and Administrative Details** ## **TRUSTEES** London Borough of Camden ## **CHARITY NUMBER** 270994 ## **BANKERS** National Westminster Bank Hampstead Village Branch ## **SOLICITORS** Head of Legal Services London Borough of Camden Town Hall Judd Street London WC1M 9LP Author: Lesley Conway – Lesley.Conway@Camden.gov.uk 3 London Borough of Camden ## **EMMANUEL VINCENT HARRIS TRUST** ## **Trustees Report for the Year Ended 31 March 2024** The trustees present their report and the financial statements for the year ended 31 March 2024. ## **Objects and Principal Activities of the Charity** The Emmanuel Vincent Harris Trust was originally set up to manage a building at 10 Fitzroy Park situated in London N6. This building was sold to a private buyer in August 2004 and the value of the sale maintained as a Trust with the London Borough of Camden as Trustee. The net receipt from sale is to be held as a restricted investment asset with the interest accumulated from treasury management disbursed within the community. The principal purpose of the Charity is to act for the general benefit of the inhabitants of the area of benefit (London Borough of Camden) in such charitable ways as the trustee thinks fit, including making grants to other charitable organisations providing facilities for the appreciation of art or objects of historical interest, primarily for the benefit of those inhabitants. Mazars LLP are the auditors for London Borough of Camden and audit the London Borough of Camden accounts. Emmanuel Vincent Harris Trust transactional activity is incorporated within these accounts. ## **Activities during the year** In 2004-05 the property at 10 Fitzroy Park was sold thus changing the source of income from a property asset to an investment asset. The capital receipt element of the asset cannot be distributed, only the interest generated from this. During the year 2023/24, the trust earned an interest income of £205,160.01. The accumulated interest income over the years will be distributed to qualifying organisations by Member decision. ## **Risk Management Policy** The trustee has identified and reviewed the major risks to which the charity could be exposed. Systems to mitigate those risks identified have also been reviewed and established where appropriate. ## **Reserves Policy** Only the investment income generated by the restricted investment asset is allowed to be used for expenditure in line with the Charity’s aims. If the general reserve reduces to zero, then expenditure will cease until such time as it increases once more. It is therefore not deemed appropriate to have a standard level of reserves at this time. This will be reviewed on an annual basis. Author: Lesley Conway – Lesley.Conway@Camden.gov.uk 4 London Borough of Camden ## **Governance and internal control** The sole trustee is the London Borough of Camden. ## **Statement of Trustees’ Responsibilities** The London Borough of Camden as a whole (not individuals or members) is the sole trustee of the trust. The trust was registered on 30[th] July 1976. The trustees are required to ensure that financial statements are prepared for each financial year and that these statements give a true and fair value of the state of affairs of the charity and of its incoming resources and application of these resources, including its income and expenditure for that period. In preparing these statements the trustees are required to: - Select suitable accounting policies and then apply them consistently; - Make judgments and estimates that are reasonable and prudent; - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustee is responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Statement of Recommended Practice for Charities (SORP - FRS 102 issued in October 2019). They 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. The trustees confirm that all applicable accounting standards and statements of recommended practice have been followed in the preparation of these statements. Approved by the trustee on xxxxxxx and signed on their behalf by …………………….. Hanad Mohamed, Director of Equalities & Community Strength London Borough of Camden Author: Lesley Conway – Lesley.Conway@Camden.gov.uk 5 London Borough of Camden ## **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report** **----- Start of picture text -----**
Report to the
trustees/ members EMMANUEL VINCENT HARRIS TRUST
of
On accounts for the
31 March 2024 Charity no (if any) 270994
year ended
Set out on pages 8 to 9
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||The charity's trustees are responsible for the preparation of the accounts. The| |---|---| ||charity’s trustees consider that an audit is not required for this year under| ||section 144 of the Charities Act 2011 (the Charities Act) and that an| ||independent examination is needed.| |**Respective**|It is my responsibility to:| |**responsibilities of**
**trustees and**
**examiner**|examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions
given by the Charity Commission (under section 145(5)(b) of the Charities| ||Act, and| ||to state whether particular matters have come to my attention.| ||My examination was carried out in accordance with general Directions given| ||by the Charity Commission. An examination includes a review of the| |**Basis of**
**independent**
**examiner’s**
**statement**|accounting records kept by the charity and a comparison of the accounts
presented with those records. It also includes consideration of any unusual
items or disclosures in the accounts, and seeking explanations from the
trustees concerning any such matters. The procedures undertaken do not
provide all the evidence that would be required in an audit, and consequently,| ||no opinion is given as to whether the accounts present a ‘true and fair’ view| ||and the report is limited to those matters set out in the statement below.| ||In connection with my examination, no matter has come to my attention| ||1. which gives me reasonable cause to believe that in, any material| ||respect, the requirements:| ||to keep accounting records in accordance with section 130 of| |**Independent**|the Charities Act; and| |**examiner's**|to prepare accounts which accord with the accounting records| |**statement**|and comply with the accounting requirements of the Charities Act| ||have not been met; or| ||2. to which, in my opinion, attention should be drawn in order to enable| ||a proper understanding of the accounts to be reached.| Author: Lesley Conway – Lesley.Conway@Camden.gov.uk 6 London Borough of Camden **Signed: Date:** 9 July 2024 **Name:** Peter Taylor **Relevant professional qualification(s) or** Chartered Institute of Public Finance and Accountancy **body (if any):** All enquiries through Financial Reporting Team, Corporate Finance **Address:** London Borough of Camden, 5 Pancras Square, London, N1C 4AG ## **Section B Disclosure** Only complete if the examiner needs to highlight material problems. **Give here brief details of any items that the** None **examiner wishes to disclose** . Author: Lesley Conway – Lesley.Conway@Camden.gov.uk 7 London Borough of Camden ## **EMMANUEL VINCENT HARRIS TRUST** ## **Statement of Financial Activities (incorporating an Income and Expenditure Account) for the year ended 31[st] March 2024** **----- Start of picture text -----**
Note 2023/24 2022/23
Incoming Resources
Interest 1 (205,160) (83,480)
Total Incoming Resources (205,160) (83,480)
Resources Expended
Charitable Expenditure 0 0
Total Resources Expended 0 0
Net Incoming Resources for the
(205,160) (83,480)
year
Funds at 1 April (310,421) (226,941)
Funds at 31 March (515,581) (310,421)
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## **Notes to the accounts:** 1. Interest of £205,160.01 from an investment asset of £3,796,269 from 1 April 2023 to 31 March 2024. Author: Lesley Conway – Lesley.Conway@Camden.gov.uk 8 London Borough of Camden ## **Balance Sheet as at 31[st] March 2024** **----- Start of picture text -----**
Notes 2023/24 2022/23
£’000 £’000
Fixed Assets
Investment Asset 1 3,796 3,796
Current Assets
Cash at Bank 516 310
Net Assets 4,312 4,106
Funds
Restricted Reserve 3,796 3,796
General Reserve 516 310
Total Funds 2 4,312 4,106
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## **Notes** 1. The net receipt from the sale of 10 Fitzroy Park is to be held as a restricted investment asset with the interest accumulated from treasury management disbursed within the community 2. Reserves **----- Start of picture text -----**
Restricted General
Reserve Reserve Total
£’000 £’000 £’000
Reserves at the start of the year 3,796 310 4,106
Net movement in Funds 0 205 205
Reserves at the end of the year 3,796 516 4,312
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Author: Lesley Conway – Lesley.Conway@Camden.gov.uk 9