REGISTERED CHARITY NUMBER: 275240
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
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 2024
| 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 |
| Detailed Statement of Financial Activities | 10 |
THE SCHREIB TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024
The trustees present their report with the financial statements of the charity for the year ended 30 June 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 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 2024
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 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 21 March 2025 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 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:
-
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 The Institute of Chartered Accountants in England and Wales
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
21 March 2025
Page 3
THE SCHREIB TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024
| 30.6.24 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 154,333 Investment income 2 70,000 Total 224,333 EXPENDITURE ON Raising funds 3 40,000 Charitable activities GENERAL 4,986 Charitable 351,257 Total 396,243 NET INCOME/(EXPENDITURE) (171,910) RECONCILIATION OF FUNDS Total funds brought forward 295,541 TOTAL FUNDS CARRIED FORWARD 123,631 |
30.6.23 Total funds £ 177,664 70,058 |
|---|---|
| 247,722 | |
| 40,000 6,607 148,967 |
|
| 195,574 | |
| 52,148 243,393 |
|
| 295,541 |
The notes form part of these financial statements
Page 4
THE SCHREIB TRUST
STATEMENT OF FINANCIAL POSITION 30 JUNE 2024
| 30.6.24 Unrestricted fund Notes £ CURRENT ASSETS Debtors 6 112,109 Cash at bank 13,925 126,034 CREDITORS Amounts falling due within one year 7 (2,403) NET CURRENT ASSETS 123,631 TOTAL ASSETS LESS CURRENT LIABILITIES 123,631 NET ASSETS 123,631 FUNDS 9 Unrestricted funds 123,631 TOTAL FUNDS 123,631 |
30.6.23 Total funds £ 182,109 116,869 298,978 (3,437) 295,541 295,541 295,541 295,541 295,541 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 21 March 2025 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 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.
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 | ||
|---|---|---|
| 30.6.24 | 30.6.23 | |
| £ | £ | |
| Rents received | 70,000 | 70,000 |
| Deposit account interest | - | 58 |
| 70,000 | 70,058 | |
| RAISING FUNDS | ||
| Investment management costs | ||
| 30.6.24 | 30.6.23 | |
| £ | £ | |
| Rent paid | 40,000 | 40,000 |
Page 6
continued...
THE SCHREIB TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.
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 Charitable Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors |
Unrestricted fund £ 177,664 70,058 247,722 40,000 6,607 148,967 195,574 52,148 243,393 295,541 30.6.24 30.6.23 £ £ 70,000 140,000 42,109 42,109 112,109 182,109 |
|---|---|
continued...
Page 7
THE SCHREIB TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
| 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 8) Trade creditors 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 At 1.7.23 £ Unrestricted funds General fund 295,541 TOTAL FUNDS 295,541 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 224,333 TOTAL FUNDS 224,333 Comparatives for movement in funds At 1.7.22 £ Unrestricted funds General fund 243,393 TOTAL FUNDS 243,393 |
30.6.24 30.6.23 £ £ - 282 (955) - 3,358 3,155 2,403 3,437 30.6.24 30.6.23 £ £ - 282 Net movement At in funds 30.6.24 £ £ (171,910) 123,631 (171,910) 123,631 Resources Movement expended in funds £ £ (396,243) (171,910) (396,243) (171,910) Net movement At in funds 30.6.23 £ £ 52,148 295,541 52,148 295,541 |
|---|---|
continued...
Page 8
THE SCHREIB TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
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 £ 247,722 247,722 |
Resources Movement expended in funds £ £ (195,574) 52,148 (195,574) 52,148 |
Resources Movement expended in funds £ £ (195,574) 52,148 (195,574) 52,148 |
|---|---|---|---|
| 52,148 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.7.22 £ 243,393 243,393 |
Net movement in funds £ (119,762) (119,762) |
At 30.6.24 £ 123,631 |
|---|---|---|---|
| 123,631 |
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 £ 472,055 472,055 |
Resources Movement expended in funds £ £ (591,817) (119,762) (591,817) (119,762) |
Resources Movement expended in funds £ £ (591,817) (119,762) (591,817) (119,762) |
|---|---|---|---|
| (119,762) |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2024.
Page 9
THE SCHREIB TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024
| 30.6.24 | 30.6.23 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | - | (1) |
| Donations | 154,333 | 177,665 |
| 154,333 | 177,664 | |
| Investment income | ||
| Rents received | 70,000 | 70,000 |
| Deposit account interest | - | 58 |
| 70,000 | 70,058 | |
| Total incoming resources | 224,333 | 247,722 |
| EXPENDITURE | ||
| Investment management costs | ||
| Rent paid | 40,000 | 40,000 |
| Charitable activities | ||
| Rates and water | 870 | 3,465 |
| Insurance | 1,114 | 768 |
| Grants to institutions | 351,256 | 148,340 |
| 353,240 | 152,573 | |
| Support costs | ||
| Finance | ||
| Bank charges | 3 | 1 |
| Governance costs | ||
| Accountancy and legal fees | 3,000 | 3,000 |
| Total resources expended | 396,243 | 195,574 |
| Net (expenditure)/income | (171,910) | 52,148 |
This page does not form part of the statutory financial statements
Page 10