REGISTERED CHARITY NUMBER: 275240
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
FOR
THE SCHREIB TRUST
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
THE SCHREIB TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
THE SCHREIB TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021
The trustees present their report with the financial statements of the charity for the year ended 30 June 2021. 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 Schreib Trust is constituted by Trust Deed, and its objects are to provide general charitable donations and in particular for the relief of poverty and the advancement of religion and religious education.
The policy of the Schreib Trust continues to be to derive its income from companies associated with the trustees and to make donations in accordance with the Trust's objects.
Public benefit
The Trustees have taken due heed of their obligations relating to Public Benefit Duty affecting charities, as well as to their obligations under the Equalities Act 2010. The Trustees are satisfied that they meet their obligations.
Grantmaking
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the trust.
FINANCIAL REVIEW
Principal funding sources
The trust continued to receive Gift Aid donations from various companies associated with the trustees.
The trust continued to support institutions throughout the world in pursuance of its objects.
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity. This provides sufficient funds to cover the support costs and to respond to emergency applications for grants which arise from time to time.
FUTURE PLANS
There are no current plans to change the activities or modus operandi in the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will select suitable recruitment and training procedures.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
275240
Principal address
147 Stamford Hill London N16 5LG
Page 1
THE SCHREIB TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021
Trustees
J Schreiber Mrs I Schreiber A Green Mrs R Niederman
Appointment of trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to fill the vacancies arising through resignation or death of an existing trustee.
Independent Examiner
Malcolm Venitt A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Solicitors
Bude Nathan Iwanier 1-2 Temple Fortune Parade Bridge Lane London NW11 0QN
Approved by order of the board of trustees on 24 April 2022 and signed on its behalf by:
Mrs R Niederman - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SCHREIB TRUST
Independent examiner's report to the trustees of The Schreib Trust
I report to the charity trustees on my examination of the accounts of The Schreib Trust (the Trust) for the year ended 30 June 2021.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of A.C.A which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Malcolm Venitt A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
24 April 2022
Page 3
THE SCHREIB TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021
| 30.6.21 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 247,971 Investment income 2 70,000 Total 317,971 EXPENDITURE ON Raising funds 3 40,000 Charitable activities GENERAL 233,554 Total 273,554 NET INCOME/(EXPENDITURE) 44,417 RECONCILIATION OF FUNDS Total funds brought forward 176,122 TOTAL FUNDS CARRIED FORWARD 220,539 |
30.6.20 Total funds £ 84,172 70,088 154,260 40,000 128,691 168,691 (14,431) 190,553 176,122 |
|---|---|
The notes form part of these financial statements
Page 4
THE SCHREIB TRUST
STATEMENT OF FINANCIAL POSITION 30 JUNE 2021
| 30.6.21 Unrestricted fund Notes £ CURRENT ASSETS Debtors 6 110,400 Cash at bank 115,499 225,899 CREDITORS Amounts falling due within one year 7 (5,360) NET CURRENT ASSETS 220,539 TOTAL ASSETS LESS CURRENT LIABILITIES 220,539 NET ASSETS 220,539 FUNDS 9 Unrestricted funds 220,539 TOTAL FUNDS 220,539 |
30.6.20 Total funds £ 40,400 135,792 176,192 (70) 176,122 176,122 176,122 176,122 176,122 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 24 April 2022 and were signed on its behalf by:
A Green - Trustee
J Schreiber - Trustee
The notes form part of these financial statements
Page 5
THE SCHREIB TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
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.
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.
Taxation
The charity is exempt from tax on its charitable activities.
2. INVESTMENT INCOME
3.
| INVESTMENT INCOME | ||
|---|---|---|
| 30.6.21 | 30.6.20 | |
| £ | £ | |
| Rents received | 70,000 | 70,000 |
| Deposit account interest | - | 88 |
| 70,000 | 70,088 | |
| RAISING FUNDS | ||
| Investment management costs | ||
| 30.6.21 | 30.6.20 | |
| £ | £ | |
| Rent paid | 40,000 | 40,000 |
Page 6
continued...
THE SCHREIB TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
6.
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities GENERAL Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors |
Unrestricted fund £ 84,172 70,088 154,260 40,000 128,691 168,691 (14,431) 190,553 176,122 30.6.21 30.6.20 £ £ 70,000 - 40,400 40,400 110,400 40,400 |
|---|---|
continued...
Page 7
THE SCHREIB TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 8) Other creditors 8. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts 9. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.7.20 £ 176,122 176,122 Incoming resources £ 317,971 317,971 At 1.7.19 £ 190,553 190,553 |
30.6.21 30.6.20 £ £ 2,205 - 3,155 70 5,360 70 30.6.21 30.6.20 £ £ 2,205 - Net movement At in funds 30.6.21 £ £ 44,417 220,539 44,417 220,539 Resources Movement expended in funds £ £ (273,554) 44,417 (273,554) 44,417 Net movement At in funds 30.6.20 £ £ (14,431) 176,122 (14,431) 176,122 |
|---|---|---|
continued...
Page 8
THE SCHREIB TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 154,260 154,260 |
Resources Movement expended in funds £ £ (168,691) (14,431) (168,691) (14,431) |
Resources Movement expended in funds £ £ (168,691) (14,431) (168,691) (14,431) |
|---|---|---|---|
| (14,431) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.7.19 £ 190,553 190,553 |
Net movement in funds £ 29,986 29,986 |
At 30.6.21 £ 220,539 |
|---|---|---|---|
| 220,539 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 472,231 472,231 |
Resources Movement expended in funds £ £ (442,245) 29,986 (442,245) 29,986 |
Resources Movement expended in funds £ £ (442,245) 29,986 (442,245) 29,986 |
|---|---|---|---|
| 29,986 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2021.
Page 9