**Registered Charity No: 275423** **THE CECIL ISRAEL CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **FISHER PHILLIPS LLP** Chartered Accountants Summit House 170 Finchley Road London NW3 6BP ## **THE CECIL ISRAEL CHARITY** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **The Trustees:** E S Gorney R D Gorney ## **The Charity's principal address:** 24 Brampton Groce London NW4 4AQ ## **Independent Examiner:** Fisher Phillips LLP Summit House 170 Finchley Road London NW3 6BP ## **THE CECIL ISRAEL CHARITY** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** ## **CONTENTS** ||Pages| |---|---| |Trustees' Report|1| |Independent Examiner's Report|2| |Statement of financial activities|3| |Balance sheet|4| |Notes to the accounts|5| **THE CECIL ISRAEL CHARITY Charity number: 275423 TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021** The trustees present their report and financial statements for the year ended 31 December 2021. The trustees have adopted the provision of the Statement of Recommended Practice (SORP) ''Accounting and Reporting by Charities'' (FRS 102) in preparing the annual report and financial Statements of the Charity. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. - 1 The Trust was established by Deed of Trust dated 15 February 1978 and is registered with the Charity Commission under number 275423. - 2 The Trust's objects are to raise and distribute funds for such charitable purpose or purposes for such charitable institution or institutions as the trustees in their absolute discretion think fit, such that it carries out its charitable purposes for the public benefit. The trustees have complied with their duty to have due regard to the commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. - 3 The Trustees who served throughout the year were :- - E S Gorney R D Gorney - 4 The results for the year can be summarised as :- |The results for the year can be summarised as :-|| |---|---| |Income
Expenditure
Excess of expenditure over income|Restricted
Unrestricted
Total
£
£
£
-
37,517
37,517
-
(51,249)
(51,249)| ||-
(13,732)
(13,732)| - 5 Statement of Trustees' responsibilities The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales 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 and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP (FRS 102); - make judgements and estimates that are reasonable and prudent; · state whether applicable accounting standards and statements of recommendation practice have been followed, subject to any departures disclosed and explained in the financial statements ; · prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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. Approved by the Trustees on 27 October 2022 E S Gorney …............................................ R D Gorney …................................................ _Page 1_ **THE CECIL ISRAEL CHARITY Charity number: 275423** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CECIL ISRAEL CHARITY** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** The trustees present their report together with the financial statements of the trust for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 5 and comply with the trust deed and applicable law. ## **Respective responsibilities of trustees and examiner** The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied oursevels that the trust is not subject to audit and is eligible for independent examination, it is our responsibility to: - examine the accounts under section 145 of the 2011 Act; - follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and - to state whether particular matters have come to our attention ## **Basis of independent examiner's report** Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of 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 you as 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. ## **Independent Examiner's Statement** In connection with our examination, no matter has come to our attention: - 1) which gives us reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 130 of the 2011 Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or - 2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. **Anthony Ornstein FCA** Date: 27 October 2022 for and on behalf of Fisher Phillips LLP Chartered Accountants Summit House 170 Finchley Road London NW3 6BP _Page 2_ ## **THE CECIL ISRAEL CHARITY Charity number : 275423 STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** |**Notes**
**INCOME FROM:**
Donations received
Income tax recoverable through Gift Aid
Gain on sale of property legacy
Other income
**TOTAL INCOME**
**EXPENDITURE ON:**
Charitable donations
Other expenses
**TOTAL EXPENDITURE**
**NET INCOME/(EXPENDITURE)**
Balances brought forward at 1 January 2021
**3**
**3**
**BALANCE CARRIED FORWARD AT**
**31 DECEMBER 2021**|**2021**
**2020**
**Restricted**
**Unrestricted**
**Total**
**Total**
**£**
**£**
**£**
**£**
-
30,000
**30,000**
**10,000**
-
7,500
**7,500**
**2,500**
-
-
**-**
**100,000**
-
17
**17**
**17**| |---|---| ||-
37,517
**37,517**
**112,517**
-
(51,249)
**(51,249)**
**(43,032)**
-
-
**-**
**(962)**| ||**-**
(51,249)
**(51,249)**
**(43,994)**| ||**-**
(13,732)
**(13,732)**
**68,523**
**-**
198,887
**198,887**
**130,364**| ||**-**
**185,155**
**185,155**
**198,887**| The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended are derived from continuing activities. The attached notes form part of these financial statements _Page 3_ **THE CECIL ISRAEL CHARITY Charity number : 275423 BALANCE SHEET** ## **AS AT 31 DECEMBER 2021** |**Notes**
**CURRENT ASSETS**
Cash at bank and in hand
Sundry debtor
**3**
**TOTAL ASSETS**
**FUNDS**
Restricted funds
**4**
Unrestricted funds
**4**
**TOTAL FUNDS**|**£**
175,155
10,000
**185,155**
**185,155**
**-**
185,155
**185,155**
**2021**|**£**
193,887
5,000
**2020**| |---|---|---| |||**198,887**| |||**198,887**| |||**-**
198,887| |||**198,887**| These financial statements were approved by the trustees on 27 October 2022 and were signed on their behalf by: **E. S. Gorney** …............................................. **R. D. Gorney** …........................................ The attached notes form part of these financial statements. _Page 4_ **THE CECIL ISRAEL CHARITY Charity number : 275423 NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** ## **1 ACCOUNTING POLICIES** ## 1.1 **Basis of preparation** The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice. The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A. ## 1.2 **Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. ## 1.3 **Income** Incoming resources comprise donations and legacies received in the year. ## 1.4 **Expenditure** Resources expended are included in the statement of financial activities on an actual basis and comprise donations to other registered charities and other charitable support expenditure, - 1.5 **Fund accounting** Restricted funds are funds which have been given for particular projects. Unrestricted funds are not subject to any restrictions regarding their use and are available for application on the general purposes of the charity. - 1.6 **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## 1.7 **Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## 1.8 **Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2 STAFF COSTS AND TRUSTEES' REMUNERATION** The Charity does not employee any staff nor are the trustees remunerated. ## **3 DEBTORS** |**DEBTORS**|| |---|---| |Sundry Debtor - Gift Aid Receivable|**2021**
**2020**
**_£_**
**£**
10,000
5,000| ||10,000
5,000| |**4**
**FUNDS**
**Unrestricted reserves**
**Restricted reserves**|**At 1 January**
Incoming
Resources
**At 31 December**
**2021**
resources
expended
**2021**
**£**
**£**
**£**
**£**
**-**
-
-
-
**-**
198,887
37,517
(51,249)
-
**185,155**
Transfer
between funds| |---|---| ||**198,887**
**37,517**
**(51,249)**
**-**
**185,155**| _Page 5_