REGISTERED CHARITY NUMBER: 288622
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
FOR
WLODOWA CHARITY AND REHABILITATION TRUST
Venitt and Greaves Statutory Auditors Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
WLODOWA CHARITY AND REHABILITATION TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Report of the Independent Auditors | 4 | to | 5 |
| Statement of Financial Activities | 6 | ||
| Statement of Financial Position | 7 | ||
| Statement of Cash Flows | 8 | ||
| Notes to the Statement of Cash Flows | 9 | ||
| Notes to the Financial Statements | 10 | to | 15 |
WLODOWA CHARITY AND REHABILITATION TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2020
TRUSTEES S Rothstein D Birnbaum J Goldstein PRINCIPAL ADDRESS 35 Ashtead Road London London E5 9BJ REGISTERED CHARITY 288622 NUMBER AUDITORS Venitt and Greaves Statutory Auditors Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL BANKERS Lloyds TSB 180 - 182 High Street Walthamstow London E17 7JH
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WLODOWA CHARITY AND REHABILITATION TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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 Wlodowa Charity & Rehabilitation 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 Wlodowa Charity & Rehabilitation Trust continues to be to derive its income from donations from various institutions and individuals 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 in this respect.
Grantmaking
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year donations received totalled £4,851,903. This included £948,789 in restricted funds. This was higher than the previous year when donations received amounted to £4,052,913.
Donations made totalled £4,805,970 (2019 - £4,032,338) These funds were expended on grants for food, clothing and festivals, holidays and communal meals and the relief of poverty and sundry student grants. In addition the charity conducted appeals for needy cases and religious organisations who applied for funds for specific purposes. The trustees report that they were able to distribute funds under the following: categories:
Medical grants - £196,611 Wedding expenses - £125,135 Religious organisations - £627,043
FINANCIAL REVIEW
Investment policy and objectives
The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity.
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity including the possibility of providing capital assets for the needs of charitable institutions.
FUTURE PLANS
The charity intends to carry on its policy of making grants in pursuant of its objects, and continue its activities, as outlined above, for 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 apply 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.
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WLODOWA CHARITY AND REHABILITATION TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are 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 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 order of the board of trustees on 13 October 2021 and signed on its behalf by:
J Goldstein - Trustee
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF WLODOWA CHARITY AND REHABILITATION TRUST
Opinion
We have audited the financial statements of WLODOWA CHARITY AND REHABILITATION TRUST (the 'charity') for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 December 2020 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF WLODOWA CHARITY AND REHABILITATION TRUST
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations, We design procedures in line with our responsibilities, outlined above, to detect material misstatement in respect of irregularities, including fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Venitt and Greaves Statutory Auditors Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
13 October 2021
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WLODOWA CHARITY AND REHABILITATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 EXPENDITURE ON Raising funds Raising donations and legacies 3 Charitable activities 4 Grants for food,clothing and festivals Holidays and communal meals Relief of poverty & sundry students grants Medical grants Wedding expenses Religious organisations Other 7 Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 3,903,114 2,294 2,294 1,294,938 159,145 2,403,098 - - - 7,040 3,866,515 36,599 50,526 87,125 |
Restricted fund £ 948,789 - - - - - 196,611 125,135 627,043 - 948,789 - - - |
31.12.20 Total funds £ 4,851,903 2,294 2,294 1,294,938 159,145 2,403,098 196,611 125,135 627,043 7,040 4,815,304 36,599 50,526 87,125 |
31.12.19 Total funds £ 4,052,913 1,488 |
|---|---|---|---|---|
| 1,488 1,186,714 147,196 1,619,857 155,855 419,749 502,967 4,560 |
||||
| 4,038,386 | ||||
| 14,527 35,999 |
||||
| 50,526 |
The notes form part of these financial statements
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WLODOWA CHARITY AND REHABILITATION TRUST
STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2020
| 31.12.20 | 31.12.19 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Cash at bank | 91,925 | - | 91,925 | 55,086 | |
| CREDITORS | |||||
| Amounts falling due within one year | 11 | (4,800) | - | (4,800) | (4,560) |
| NET CURRENT ASSETS | 87,125 | - | 87,125 | 50,526 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 87,125 | - | 87,125 | 50,526 | |
| NET ASSETS | 87,125 | - | 87,125 | 50,526 | |
| FUNDS | 12 | ||||
| Unrestricted funds | 87,125 | 50,526 | |||
| TOTAL FUNDS | 87,125 | 50,526 |
The financial statements were approved by the Board of Trustees and authorised for issue on 13 October 2021 and were signed on its behalf by:
D Birnbaum - Trustee
J Goldstein - Trustee
The notes form part of these financial statements
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WLODOWA CHARITY AND REHABILITATION TRUST
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020
| 31.12.20 | 31.12.19 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | 36,839 | 14,767 |
| Net cash provided by operating activities | 36,839 | 14,767 | |
| Change in cash and cash equivalents in | |||
| the reporting period | 36,839 | 14,767 | |
| Cash and cash equivalents at the | |||
| beginning of the reporting period | 55,086 | 40,319 | |
| Cash and cash equivalents at the end of | |||
| the reporting period | 91,925 | 55,086 |
The notes form part of these financial statements
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WLODOWA CHARITY AND REHABILITATION TRUST
NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Net income for the reporting period (as per the Statement of Financial | ||
| Activities) | 36,599 | 14,527 |
| Adjustments for: | ||
| Increase in creditors | 240 | 240 |
| Net cash provided by operations | 36,839 | 14,767 |
2.
ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.20 | Cash flow | At 31.12.20 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 55,086 | 36,839 | 91,925 |
| 55,086 | 36,839 | 91,925 | |
| Total | 55,086 | 36,839 | 91,925 |
The notes form part of these financial statements
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WLODOWA CHARITY AND REHABILITATION TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
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.
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. DONATIONS AND LEGACIES
| Donations 3. RAISING DONATIONS AND LEGACIES Postage and stationery Travelling Support costs |
31.12.20 £ 4,851,903 31.12.20 £ 2,125 169 - 2,294 |
31.12.19 £ 4,052,913 |
31.12.19 £ 4,052,913 |
|---|---|---|---|
| 31.12.19 £ 400 259 829 1,488 |
|||
| 1,488 |
continued...
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WLODOWA CHARITY AND REHABILITATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
4. CHARITABLE ACTIVITIES COSTS
| Grants for food,clothing and festivals Holidays and communal meals Relief of poverty & sundry students grants Medical grants Wedding expenses Religious organisations 5. GRANTS PAYABLE Grants for food,clothing and festivals Holidays and communal meals Relief of poverty & sundry students grants Medical grants Wedding expenses Religious organisations |
31.12.20 £ 1,294,938 159,145 2,403,098 196,611 125,135 627,043 4,805,970 |
Grant funding of activities (see note 5) £ 1,294,938 159,145 2,403,098 196,611 125,135 627,043 |
|---|---|---|
| 4,805,970 | ||
| 31.12.19 £ 1,186,714 147,196 1,619,857 155,855 419,749 502,967 |
||
| 4,032,338 |
continued...
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WLODOWA CHARITY AND REHABILITATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
5. GRANTS PAYABLE - continued
6. SUPPORT COSTS
| 6. | SUPPORT COSTS | |||
|---|---|---|---|---|
| Governance | ||||
| Finance | costs | Totals | ||
| £ | £ | £ | ||
| Other resources expended | 2,240 | 4,800 | 7,040 | |
| 7. | OTHER | |||
| 31.12.20 | 31.12.19 | |||
| £ | £ | |||
| Support costs | 7,040 | 4,560 | ||
| 8. | AUDITORS' REMUNERATION | |||
| 31.12.20 | 31.12.19 | |||
| £ | £ | |||
| Fees payable to the charity's auditors for the audit of the charity's financial | ||||
| statements | 4,800 | 4,560 |
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds Raising donations and legacies Charitable activities Grants for food,clothing and festivals Holidays and communal meals Relief of poverty & sundry students grants |
Unrestricted funds £ 3,163,823 1,488 1,488 1,186,714 147,196 1,619,857 |
Restricted fund £ 889,090 - - - - - |
Total funds £ 4,052,913 1,488 |
|---|---|---|---|
| 1,488 1,186,714 147,196 1,619,857 |
continued...
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WLODOWA CHARITY AND REHABILITATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - Unrestricted funds £ Medical grants - Wedding expenses - Religious organisations 189,481 Other 4,560 Total 3,149,296 NET INCOME 14,527 RECONCILIATION OF FUNDS Total funds brought forward 35,999 TOTAL FUNDS CARRIED FORWARD 50,526 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 12. MOVEMENT IN FUNDS At 1.1.20 £ Unrestricted funds General fund 50,526 TOTAL FUNDS 50,526 |
continued Restricted fund £ 155,855 419,749 313,486 - 889,090 - - - 31.12.20 £ 4,800 Net movement in funds £ 36,599 36,599 |
Total funds £ 155,855 419,749 502,967 4,560 |
|---|---|---|
| 4,038,386 | ||
| 14,527 35,999 |
||
| 50,526 | ||
| 31.12.19 £ 4,560 At 31.12.20 £ 87,125 87,125 |
continued...
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WLODOWA CHARITY AND REHABILITATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 3,903,114 Restricted funds Donation for Medical grants, Wedding expenses & Religious organisations 948,789 TOTAL FUNDS 4,851,903 Comparatives for movement in funds At 1.1.19 £ Unrestricted funds General fund 35,999 TOTAL FUNDS 35,999 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 3,163,823 Restricted funds Donation for Medical grants, Wedding expenses & Religious organisations 889,090 TOTAL FUNDS 4,052,913 |
Resources expended £ (3,866,515) (948,789) (4,815,304) Net movement in funds £ 14,527 14,527 Resources expended £ (3,149,296) (889,090) (4,038,386) |
Movement in funds £ 36,599 - 36,599 At 31.12.19 £ 50,526 50,526 Movement in funds £ 14,527 - 14,527 |
|---|---|---|
continued...
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WLODOWA CHARITY AND REHABILITATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.19 | in funds | 31.12.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 35,999 | 51,126 | 87,125 |
| TOTAL FUNDS | 35,999 | 51,126 | 87,125 |
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 Restricted funds Donation for Medical grants, Wedding expenses & Religious organisations TOTAL FUNDS |
Incoming resources £ 7,066,937 1,837,879 8,904,816 |
Resources expended £ (7,015,811) (1,837,879) (8,853,690) |
Movement in funds £ 51,126 - |
|---|---|---|---|
| 51,126 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2018.
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